Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 194

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 194
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 ordinary course of business consistent with past practice and that do not adversely affect American Water, issue, sell, pledge, dispose of or encumber, or authorize the issuance, sale, pledge, disposition or 
 encumbrance of, any American Water equity securities (except as otherwise provided by the terms of the merger agreement or as required by the terms of any specified American Water benefit plan or the American Water Dividend Reinvestment and Direct  
 Stock Purchase Plan), other than (A) issuances of shares of American Water common stock in respect of any settlement of any restricted share units (including performance share units), phantom shares, restricted stock or similar equity awards        
 with respect to shares of American Water common stock outstanding on the date of the merger agreement or as may be granted after such date as permitted under the merger agreement and (B) the grant of equity compensation awards in the ordinary       
 course of business in accordance with American Water’s customary compensation practices;                                                                                                                                                                 |

| • |     | adopt a plan or agreement of complete or partial liquidation, dissolution, merger, consolidation, restructuring, 
 recapitalization or other reorganization, or enter into a letter of intent or agreement in                       |

130

| principle with respect thereto, other than the merger and other than any merger, consolidation, restructuring or reorganization among wholly owned subsidiaries in the ordinary course of business 
 consistent with past practice and that do not adversely affect American Water;                                                                                                                     |

| • |     | redeem, repurchase, defease, cancel or otherwise acquire indebtedness of American Water or its subsidiaries,                                                                                                                                         
 other than (i) transactions among American Water and any wholly owned subsidiary or among wholly owned subsidiaries, in each case, in the ordinary course of business consistent with past practice and that do not adversely affect American Water, 
 (ii) any required amortization payments and mandatory prepayments, and (iii) indebtedness arising under agreements specified in the confidential disclosure schedule delivered by American Water, in each case, in accordance with the terms of      
 the instrument governing such indebtedness as in effect on the date of the merger agreement;                                                                                                                                                         |

| • |     | create, incur, assume or otherwise be liable with respect to any indebtedness of American Water or its                                                                                                                                                   
 subsidiaries, other than (i) in the ordinary course of business consistent with past practice, (ii) indebtedness incurred by any subsidiary under any loan agreement specified in the confidential disclosure schedule delivered by American             
 Water, (iii) in connection with a refinancing of existing indebtedness on commercially