CALIFORNIA WATER SERVICE GROUP
For the period ended May 28, 2025. Filed Apr 16, 2025.
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May 28, 2025 · Filed Apr 16, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant ☒
Filed by a Party other than the Registrant ☐
Check the appropriate box:
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material under §240.14a-12
California Water Service Group
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
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Fee paid previously with preliminary materials
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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11
A Letter from our Chairman, President & CEO
| | Dear Fellow Stockholder: | |
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It is my pleasure to invite you to join us for the California Water Service Group 2025 Annual Meeting of Stockholders at 9:30 a.m. Pacific Time on Wednesday, May 28, 2025. Once again, we will hold the Annual Meeting online to allow for greater participation by all of our stockholders, regardless of their geographic location. Please see the Notice of Annual Meeting on the next page for more information.
Your vote is very important. We encourage you to read the Proxy Statement and vote your shares at your earliest convenience, even if you plan to attend the meeting.
Sincerely,
Martin A. Kropelnicki
Chairman, President & Chief Executive Officer
While 2024 started off with many significant challenges, we stayed true to our cause, focused and dedicated to what we do best, serving our customers. I am very proud of our overall performance and how 2024 ended, including our continued ability to execute our strategy that aims to create value and growth for our stockholders, customers, communities and employees.
We delivered strong financial results, attributable in part to the June 2024 decision on our 2021 California General Rate Case and Infrastructure Improvement Plan (GRC/IIP). We also filed our 2024 GRC/IIP, which thus far appears to be proceeding on schedule.
As you know, prudent infrastructure investment is our primary growth driver, and in 2024, we invested a record $471 million in water system improvements, including water quality treatment facilities, storage tanks, wells, and computer control systems that we need to deliver a safe, reliable water supply to customers.
Protecting public health and maintaining water quality standards is a primary goal for us. In 2024, we continued to provide high-quality water and excellent service to our customers. We met or surpassed every standard set to protect public health and invested $8 million in treatment facilities for per- and polyfluoroalkyl substances (PFAS). To help customers with past due balances and provide added convenience, we expanded Promise Pay into Washington and New Mexico and rolled out Walmart Bill Pay.
On the environmental stewardship front, we invested approximately $2 million in water conservation programs that are expected to save 52 million gallons per year while helping keep bills more affordable for customers. We also continued our efforts to use energy more efficiently throughout the company and expand our use of electric service vehicles.
Finally, we contributed more than $1.1 million to charitable organizations that share our dedication to enhancing the quality of life in our communities, and an additional $100,000 to the American Red Cross, World Central Kitchen, California Fire Foundation, Pasadena Humane, and SPCA LA, all of whom provided critical services during and after the devastating Los Angeles wildfires, which were adjacent to but did not impact our service areas.
The devastation in the wake of these fires underscored the importance of our wildfire hardening program and emergency planning and response efforts, which we have found to be vitally important in our own experience with the Erskine, Camp, Woolsey, and Mendocino Fires. We plan to continue to prioritize these programs going forward to help lessen the risk posed by natural disasters.
They are just one part of our strategy to grow, protect, and sustain our Company. On behalf of our entire team, I thank you for your continued support and investment in California Water Service Group.
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A Letter from our Lead Independent Director
| | Dear Fellow Stockholder: | |
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As lead independent director, I join Marty Kropelnicki in inviting you to attend our 2025 annual meeting of Stockholders.
As Lead Independent Director, I have the privilege of working alongside Board members who bring diverse experience and expertise to bear in providing independent oversight and guidance to the management team. Collectively, we are responsible for mitigating risk and creating long-term value for our stockholders.
Throughout 2024, we held regular discussions with management on governance, strategy, risk management and risk mitigation, capital allocation, regulatory affairs, business development, water quality, and safety performance. The independent directors and management worked together on key strategic initiatives that affect our company and as Lead Independent Director, I take very seriously the responsibility entrusted to us as your Board.
I believe I speak for all independent directors when I say we are proud of the Company’s performance in 2024. I invite you to attend the Company’s Annual Meeting to learn more, and I encourage you to review and vote on the proposals laid out in this Proxy Statement.
Thank you for your investment in our Company. We appreciate having the opportunity to serve as your Board of Directors.
Sincerely,
Scott L. Morris
Lead Independent Director
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Notice of Annual Meeting of Stockholders
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| | Date and Time | | | | | | | | Location | | | | | | | | Record Date | | | | | |
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| | Wednesday, May 28, 2025 9:30 a.m. Pacific Time | | | | | | | | To attend and participate in the Annual Meeting visit www.virtualshareholdermeeting.com/CWT2025 | | | | | | | | Only stockholders at the close of business on April 1, 2025 are entitled to receive notice of and vote at the Annual Meeting | | | | | |
The 2025 Annual Meeting of Stockholders of California Water Service Group (Group) will be held on May 28, 2025, at 9:30 a.m. Pacific Time. You will be able to attend the Annual Meeting, vote your shares electronically, and submit your questions during the live webcast by visitingwww.virtualshareholdermeeting.com/CWT2025. At the Annual Meeting, stockholders will consider and vote on the following matters:
| | 1. Election of the eleven directors named in the Proxy Statement; | |
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| | 2. An advisory vote to approve executive compensation; | |
| | 3. Ratification of the selection of Deloitte & Touche LLP as the Group’s independent registered public accounting firm for 2025; | |
| | 4. Such other business as may properly come before the Annual Meeting. | |
These matters are more fully described in the Proxy Statement accompanying this notice. We believe your vote is important. Please submit a proxy as soon as possible so that your shares can be voted at the Annual Meeting in accordance with your instructions. You may submit your proxy: (a) online, (b) by telephone, or (c) by U.S. Postal Service mail. You may revoke your proxy at any time prior to the vote at the Annual Meeting. Of course, in lieu of submitting a proxy, you may vote online during the Annual Meeting. For specific instructions, please refer to “Questions and Answers About the Proxy Materials and the Annual Meeting” in this Proxy Statement and the instructions on the proxy card.
In the event of a technical malfunction or other situation that the Chair determines may affect the ability of the Annual Meeting to satisfy the requirements for a meeting of stockholders to be held by means of remote communication under the Delaware General Corporation Law, or that otherwise makes it advisable to adjourn the Annual Meeting, the Chair or Corporate Secretary will convene the meeting at 10:30 a.m. Pacific Time on the date specified above and at the address specified above solely for the purpose of adjourning the meeting to reconvene at a date, time, and physical or virtual location announced by the Chair or Corporate Secretary. Under either of the foregoing circumstances, we will post information regarding the announcement on our Investor Relations website athttps://www.calwatergroup.com/investors.
| | | | | Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be Held on May 28, 2025: Electronic copies of the Group’s Form 10-K, including exhibits, and this Proxy Statement will be available at www.proxyvote.com. | |
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The Group expects to mail the Proxy Materials to its stockholders commencing on April 16, 2025.
By Order of the Board of Directors
Michelle R. Mortensen
Vice President, Corporate Secretary and Chief of Staff
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.