Global Water Resources Reports Results of Director Election

Rhea-AI Summary

Global Water Resources Inc. (NASDAQ: GWRS) announced the election of new Directors and the ratification of Deloitte & Touche LLP as its independent accounting firm during its 2022 Annual Meeting of Stockholders. A total of 19,142,522 shares were voted, with significant support for the Directors, including Ron L. Fleming receiving 94.51% of votes. The compensation of named executive officers was also approved, with 98.99% of votes in favor. Global Water continues to lead in water management with 25 systems serving metropolitan Phoenix, recycling nearly 1 billion gallons annually.

Positive

• 94.51% of votes for Ron L. Fleming as Director.
• Deloitte & Touche LLP ratified as independent accounting firm with 99.78% approval.
• Compensation of named executive officers approved with 98.99% support.
• Global Water operates 25 systems in metropolitan Phoenix, recycling nearly 1 billion gallons of water annually.

Negative

• Richard M. Alexander received only 83.10% of votes, indicating potential shareholder concerns.
• 17.09% voted against named executive officer compensation, signaling possible dissatisfaction.

PHOENIX, May 06, 2022 (GLOBE NEWSWIRE) -- Global Water Resources Inc., ("the Company"), (NASDAQ: GWRS), (TSX: GWR), announced that the nominees listed in the Proxy Statement, dated March 25, 2022, for the 2022 Annual Meeting of Stockholders ("the Meeting") were selected as Directors of the Company. As of the March 17, 2022 record date for the determination of the shareholders entitled to notice of and to vote at the meeting, 22,649,242 shares of common stock were outstanding and eligible to vote. A total of 19,142,522 shares were voted in person or by proxy at the meeting. The results of the vote for the election of the Directors at the Meeting were as follows:

	Votes For	% of Total Shares Voted	Votes Withheld	% of Total Shares Voted	Broker Non-Votes	% of Total Shares Voted
Ron L. Fleming	18,092,073	94.51%	133,161	0.70%	917,288	4.79%
Richard M. Alexander	15,907,400	83.10%	2,317,834	12.11%	917,288	4.79%
Debra G. Coy	15,992,692	83.55%	2,232,542	11.66%	917,288	4.79%
Brett Huckelbridge	17,723,546	92.59%	501,688	2.62%	917,288	4.79%
David Rousseau	16,067,265	83.93%	2,157,969	11.27%	917,288	4.79%
Jonathan L. Levine	17,892,907	93.47%	332,327	1.74%	917,288	4.79%
Andrew M. Cohn	17,851,510	93.26%	373,724	1.95%	917,288	4.79%

At the Meeting, the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022 was ratified. The results of the vote were as follows:

Votes For	% of Total Shares Voted	Votes Against	% of Total Shares Voted	Abstentions	% of Total Shares Voted	Broker Non-Votes	% of Total Shares Voted
19,100,478	99.78%	27,506	0.14%	14,538	0.08%	—	—%

In addition, the compensation of the Company's named executive officers on an advisory basis was approved. The results of the vote were as follows:

Votes For	% of Total Shares Voted	Votes Against	% of Total Shares Voted	Abstentions	% of Total Shares Voted	Broker Non-Votes	% of Total Shares Voted
14,631,386	76.43%	3,271,365	17.09%	322,483	1.68%	917,288	—%

Finally, the compensation of the Company's named executive officers on an advisory basis was approved. The results of the vote were as follows:

Votes For	% of Total Shares Voted	Votes Against	% of Total Shares Voted	Abstentions	% of Total Shares Voted	Broker Non-Votes	% of Total Shares Voted
18,041,719	98.99%	9,716	0.05%	159,202	0.87%	14,597	—%

About Global Water Resources

Global Water Resources, Inc. is a leading water resource management company that owns and operates 25 systems which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually.

The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle by owning and operating water, wastewater, and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. TWM includes additional smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth. To learn more, visit www.gwresources.com.

Company Contact:
Michael J. Liebman
CFO and SVP
Tel (480) 999-5104
mike.liebman@gwresources.com

Investor Relations:
Ron Both or Justin Lumley
CMA Investor Relations
Tel (949) 432-7566
GWRS@cma.team

Media & ESG Contact:
Tim Randall
CMA
Tel (949) 432-7572
GWRS@cma.team

FAQ

What were the results of the Global Water Resources 2022 Annual Meeting?

In the 2022 Annual Meeting, all nominated Directors were elected with significant majority support, and Deloitte & Touche LLP was ratified as the independent accounting firm.

How many shares were voted at the Global Water Resources meeting?

A total of 19,142,522 shares were voted at the Global Water Resources 2022 Annual Meeting.

What percentage voted in favor of the named executive officers' compensation at GWRS?

The compensation of named executive officers received 98.99% approval at the GWRS 2022 Annual Meeting.

What is Global Water Resources' primary business focus?

Global Water Resources focuses on water resource management, operating 25 systems that provide water, wastewater, and recycled water services.