Company: AWK
Filing Date: 2025-08-27
Form Type: 8-K
Source: 0001410636-25-000164
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Company: American Water Works Company, Inc.
Filing Date: 2025-08-27
Form: 8-K
Item: Item 5.02
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Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On August 26, 2025 (the “Effective Date”), the Board of Directors (the “Board”) of American Water Works Company, Inc. (the “Company”) increased the size of the Board from nine to ten members. Upon the recommendation of the Nominating/Corporate Governance Committee of the Board (the “Nominating Committee”), the Board appointed Lisa A. Grow as an independent director, effective as of the Effective Date and for a term ending on the date of the Company’s 2026 Annual Meeting of Shareholders, or until her earlier death, resignation or removal. Upon the recommendation of the Nominating Committee, the Board appointed Ms. Grow to the Nominating Committee and the Safety, Environmental, Technology and Operations Committee of the Board.
In accordance with the Board’s compensation arrangements currently in effect, Ms. Grow will receive an annual cash retainer of $120,000, payable quarterly and prorated for the director’s initial term of service, as well as reimbursement for expenses incurred in attending Board and committee meetings and reimbursement for attending one continuing director education program per year. On the Effective Date, Ms. Grow was also granted an award of director stock units under the Company’s 2017 Omnibus Equity Compensation Plan, each of which represents an immediately vested contractual right to receive one share of the Company’s common stock. The stock units represent the prorated portion of $175,000 in annual equity compensation for her initial term of service. Shares of Company common stock underlying this award are to be distributed to Ms. Grow within 30 days after the date of grant. Under the Company’s non-employee director stock ownership policy, by August 2030, Ms. Grow is required to hold shares with a value of at least five times her annual cash retainer. 
Ms. Grow has no direct or indirect material interest in any transaction in which the Company is or is to be a participant and which would require reporting under Item 404(a) of Regulation S-K. Other than as described above, there are no arrangements or understandings between Ms. Grow and any other person, pursuant to which the director was selected as such.