8-K
filed June 1, 2023, 7:59 PM ET
ticker CWT
CIK 0001035201
leadership
confidence high
sentiment neutral
materiality 0.60
Cal Water CFO retires; interim CFO appointed; Chairman Nelson retires, Kropelnicki becomes Chairman
CALIFORNIA WATER SERVICE GROUP
- CFO Thomas Smegal III retires May 31, 2023; will serve as strategic advisor for two years for $524,600.
- David Healey appointed Interim CFO and Treasurer, annual salary $470,000; board seeks permanent CFO.
- VP Engineering Robert Kuta departs May 31, 2023; receives $337,167 lump-sum for up to 20 hrs/week advisory for two months.
- Chairman Peter Nelson retired; CEO Martin Kropelnicki becomes Chairman; Scott Morris remains Lead Independent Director.
- Promotions: Michael Luu to SVP Corporate Services & Chief Risk Officer; Shilen Patel to Chief Business Development Officer at Cal Water.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas F. Smegal III retired as Vice President, Chief Financial Officer and Treasurer at CALIFORNIA WATER SERVICE GROUP.
- Action
- retired
- Role
- Vice President, Chief Financial Officer and Treasurer
Exact text from the filing
On May 26, 2023, Thomas F. Smegal III, Vice President, Chief Financial Officer and Treasurer notified the California Water Service Group (the “Company”) of his intention to retire from his position as Chief Financial Officer effective May 31, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
Robert J. Kuta resigned as Vice President, Engineering & Chief Water Quality & Environmental Compliance Officer at CALIFORNIA WATER SERVICE GROUP.
- Action
- resigned
- Role
- Vice President, Engineering & Chief Water Quality & Environmental Compliance Officer
Exact text from the filing
On May 26, 2023, Robert J. Kuta, Vice President, Engineering & Chief Water Quality & Environmental Compliance Officer notified the Company of his intention to leave the Company effective May 31, 2023 to pursue other opportunities that better suit the needs of his family.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David B. Healey was appointed as Interim Vice President, Chief Financial Officer and Treasurer at CALIFORNIA WATER SERVICE GROUP.
- Action
- appointed
- Role
- Interim Vice President, Chief Financial Officer and Treasurer
Exact text from the filing
On May 31, 2023, the Board of Directors (the “Board”) appointed David B. Healey, 66, to serve as Interim Vice President, Chief Financial Officer and Treasurer, while the Board evaluates candidates for the permanent position.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
CALIFORNIA WATER SERVICE GROUP shareholders rejected Stockholder proposal requesting additional emissions reduction targets and reporting at the 2023-05-31 meeting.
- Outcome
- failed
- Meeting
- 2023-05-31
Exact text from the filing
The stockholder proposal requesting additional emissions reduction targets and reporting was not approved as follows: Votes For Votes Against Abstentions Broker Non-Votes 15,029,598 30,772,600 397,522 4,598,164
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
CALIFORNIA WATER SERVICE GROUP shareholders approved Ratification of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for 2023 at the 2023-05-31 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
The selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for 2023 was ratified as follows: Votes For Votes Against Abstentions Broker Non-Votes 50,247,940 421,681 128,263 -
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
CALIFORNIA WATER SERVICE GROUP shareholders approved Advisory vote on the frequency of future advisory votes to approve compensation paid to the Company’s named executive officers at the 2023-05-31 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
The advisory vote on the frequency of future advisory votes to approve compensation paid to the Company’s named executive officers was as follows: Votes For 1 Year Votes For 2 Years Votes For 3 Years Abstentions Broker Non-Votes 44,322,870 147,449 1,630,702 98,699 4,598,164
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
CALIFORNIA WATER SERVICE GROUP shareholders approved Advisory vote on the compensation paid to the Company’s named executive officers at the 2023-05-31 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
The advisory vote on the compensation paid to the Company’s named executive officers was approved as follows: Votes For Votes Against Abstentions Broker Non-Votes 44,409,824 1,596,800 193,096 4,598,164
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
CALIFORNIA WATER SERVICE GROUP shareholders approved Amendment to the Company’s Certificate of Incorporation to reflect the new Delaware law provisions regarding officer exculpation at the 2023-05-31 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
The amendment to the Company’s Certificate of Incorporation to reflect the new Delaware law provisions regarding officer exculpation was approved as follows: Votes For Votes Against Abstentions Broker Non-Votes 37,462,740 8,555,956 181,024 4,598,164
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
CALIFORNIA WATER SERVICE GROUP shareholders approved Election of Directors at the 2023-05-31 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
The following nominees for Director were elected to serve until the 2024 Annual Meeting of Stockholders based upon the following votes: Nominee Votes For Votes Against Abstentions Broker Non-Votes Gregory E. Aliff 45,715,759 391,091 92,870 4,598,164 Shelly M. Esque 45,655,710 450,811 93,199 4,598,164 Martin A. Kropelnicki 45,221,050 900,186 78,484 4,598,164 Thomas M. Krummel, M.D. 44,323,613 1,785,064 91,043 4,598,164 Yvonne A. Maldonado, M.D. 45,647,073 471,212 81,435 4,598,164 Scott L. Morris 44,780,776 1,329,212 89,732 4,598,164 Carol M. Pottenger 45,634,141 475,817 89,762 4,598,164 Lester A. Snow 44,597,093 1,509,896 92,731 4,598,164 Patricia K. Wagner 45,955,751 159,791 84,178 4,598,164
View on SEC.gov
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