Company: AWK
Filing Date: 2025-06-09
Form Type: 8-K
Source: 0001410636-25-000133
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Company: American Water Works Company, Inc.
Filing Date: 2025-06-09
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 June 9, 2025, the Board of Directors (the “ Board”) of American Water Works Company, Inc. (the “ Company”) increased the size of the Board from eight to nine members. Upon the recommendation of the Nominating/Corporate Governance Committee of the Board (the “ Nominating Committee”), the Board appointed Raffiq Nathoo as an independent director, effective immediately and for a term ending on the date of the Company’s 2026 Annual Meeting of Shareholders, or until the director’s earlier death, resignation or removal. Upon the recommendation of the Nominating Committee, the Board appointed Mr. Nathoo to the Audit, Finance and Risk Committee and the Safety, Environmental, Technology and Operations Committee of the Board.

In accordance with the Board’s compensation arrangements currently in effect, Mr. Nathoo will receive an annual cash retainer of $120,000, payable quarterly and prorated for the director’s 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. Mr. Nathoo 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 the director’s initial term of service. Shares of Company common stock underlying this award are to be distributed to Mr. Nathoo within 30 days after the date of grant. Under the Company’s non-employee director stock ownership policy, by June 2030, Mr. Nathoo is required to hold shares with a value of at least five times his annual cash retainer.

Mr. Nathoo 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 Mr. Nathoo and any other person, pursuant to which the director was selected as such.

Item 7.01. Regulation FD Disclosure.

On June 9, 2025, the Company issued a press release announcing the election of Mr. Nathoo as a new independent member of the Board