Company: AWK
Filing Date: 2025-12-17
Form Type: S-4
Source: 0001193125-25-321389
Chunk: 221

Company: American Water Works Company, Inc.
Filing Date: 2025-12-17
Form: S-4
Chunk 221
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----|:--|--------------------------:|:----|:--|-------------------:|
| (in millions, except per share data)                                        |     |   |                           |     |   |                    |
| Numerator                                                                   |     |   |                           |     |   |                    |
| Pro forma net income - basic and diluted                                    |     | $ |                     1,353 |     | $ |              1,522 |
| Denominator                                                                 |     |   |                           |     |   |                    |
| American Water Pro forma weighted-average common shares outstanding - basic |     |   |                       195 |     |   |                195 |
| Add: Shares issued to Essential shareholders                                
 (1)                                                                         |     |   |                        86 |     |   |                 86 |
| Pro forma weighted-average common shares outstanding - basic                |     |   |                       281 |     |   |                281 |
| Pro forma basic earnings per share                                          
 (2)                                                                         |     | $ |                      4.81 |     | $ |               5.41 |
| Add: Dilutive effect of stock-based awards                                  |     |   |                         — |     |   |                  — |
| Pro forma weighted-average common shares outstanding - diluted              |     |   |                       281 |     |   |                281 |
| Pro forma diluted earnings per share                                        
 (2)                                                                         |     | $ |                      4.81 |     | $ |               5.41 |

| 2) | Amounts may not calculate due to rounding. |

154

DESCRIPTION OF AMERICAN WATER CAPITAL STOCK

This section of this joint proxy statement/prospectus summarizes the material terms of American Water’s capital stock if the merger is completed. The following description of American Water’s capital stock is not intended to be complete. For more information, please refer to the American Water certificate of incorporation and the American Water bylaws, each of which is filed as an exhibit to the registration statement of which this joint proxy statement/prospectus forms a part and incorporated herein by reference, and may also be affected by the provisions of the DGCL or the common law of the state of Delaware. All references within this section to “common stock” mean American Water common stock unless otherwise noted.

Authorized Capital Stock

American Water’s authorized capital stock consists of (i) 500,000,000 shares of American Water common stock and (ii) 50,000,000 shares