Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses AWR in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named AWR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Robert Sprowls | $974,327 | $312,000 | $1,991,967 | $0 | $892,125 | $827,884 | $30,362 | $5,028,665 |
| President and Chief Executive Officer | ||||||||
| Paul Rowley | 488,154 | 55,720 | 151,479 | 0 | 171,963 | 751,354 | 33,052 | 1,651,722 |
| Senior Vice President – Regulated Water Utility of Golden State Water Company | ||||||||
| Eva Tang | 629,568 | 69,369 | 151,479 | 0 | 226,689 | 420,210 | 25,609 | 1,522,924 |
| Senior Vice President – Finance, Chief Financial Officer, Corporate Secretary and Treasurer | ||||||||
| Gladys Farrow | 391,264 | 37,723 | 108,869 | 0 | 119,021 | 411,143 | 26,066 | 1,094,086 |
| Vice President – Finance, Treasurer and Assistant Secretary of Golden State Water Company | ||||||||
| Christopher Connor | 429,632 | 56,976 | 158,337 | 0 | 158,311 | 140,204 | 31,873 | 975,333 |
| Senior Vice President of American States Utility Services, Inc. and its subsidiaries | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Robert Sprowls | $5,028,665 | — | — | — |
| Paul Rowley | 1,651,722 | — | — | — |
| Eva Tang | 1,522,924 | — | — | — |
| Gladys Farrow | 1,094,086 | — | — | — |
| Christopher Connor | 975,333 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Christopher Connor | RSU | 2025-03-13 | — | — | 1,027 | — | $80,116 |
| Christopher Connor | PSU | 2025-03-13 | 459 | 1,028 | — | 2,236 | 78,221 |
| Gladys Farrow | PSU | 2025-03-13 | 316 | 707 | — | 1,202 | 53,794 |
| Gladys Farrow | RSU | 2025-03-13 | — | — | 706 | — | 55,075 |
| Paul Rowley | PSU | 2025-03-13 | 439 | 983 | — | 1,598 | 74,795 |
| Paul Rowley | RSU | 2025-03-13 | — | — | 983 | — | 76,684 |
| Robert Sprowls | RSU | 2025-03-13 | — | — | 6,503 | — | 507,299 |
| Robert Sprowls | PSU | 2025-03-13 | 8,711 | 19,512 | — | 33,171 | 1,484,668 |
| Eva Tang | RSU | 2025-03-13 | — | — | 983 | — | 76,684 |
| Eva Tang | PSU | 2025-03-13 | 439 | 983 | — | 1,671 | 74,795 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Christopher Connor | $80,116 | $78,221 | $0 | 49.4% |
| Gladys Farrow | 55,075 | 53,794 | 0 | 49.4% |
| Paul Rowley | 76,684 | 74,795 | 0 | 49.4% |
| Robert Sprowls | 507,299 | 1,484,668 | 0 | 74.5% |
| Eva Tang | 76,684 | 74,795 | 0 | 49.4% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Robert Sprowls | PSU | 68,022 | — | $4,930,235 |
| Eva Tang | PSU | 3,503 | — | 253,897 |
| Christopher Connor | PSU | 3,445 | — | 249,694 |
| Paul Rowley | PSU | 3,350 | — | 242,808 |
| Gladys Farrow | PSU | 2,521 | — | 182,722 |
| Christopher Connor | RSU | 2,064 | — | 149,599 |
Compensation is designed to reflect challenging metrics, with approximately 75% of the CEO's compensation at risk, tied to performance measures including relative TSR and internal goals.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pearl Meyer |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-19 | 28,620,741 | 2,468,427 | 253,233 | 92.06% | Passed |
| 2025 | 2025-05-20 | 28,175,605 | 1,924,683 | 200,700 | 93.61% | Passed |
| 2024 | 2024-05-21 | 27,159,142 | 1,378,629 | 248,778 | 95.17% | Passed |
| 2023 | 2023-05-23 | 26,704,337 | 1,348,336 | 188,748 | 95.19% | Passed |
| 2022 | 2022-05-24 | 26,647,062 | 1,173,722 | 207,824 | 95.78% | Passed |
| 2021 | 2021-05-18 | 26,426,827 | 860,287 | 207,686 | 96.85% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-19 | 92.06%a |
| 2025 | 2025-05-20 | 93.61%b |
| 2024 | 2024-05-21 | 95.17%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Annual cash retainer | $150,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 22,500 / 20,000 / 16,000 |
| Stock ownership guideline | — |
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | American States Water | 2025 | Robert Sprowls | $974,327 | $1,991,967 | $0 | $892,125 | $5,028,665 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Robert Sprowls | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “Executive Compensation”. As printed: 5,028,665. Filing ↗machine: r2 · c25 · span 1256354–1256364 |
| 2 | Section 01, Paul Rowley | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “Executive Compensation”. As printed: 1,651,722. Filing ↗machine: r8 · c25 · span 1292000–1292009 |
| 3 | Section 01, Eva Tang | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “Executive Compensation”. As printed: 1,522,924. Filing ↗machine: r5 · c25 · span 1274476–1274485 |
| 4 | Section 01, Gladys Farrow | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “Executive Compensation”. As printed: 1,094,086. Filing ↗machine: r14 · c25 · span 1330092–1330101 |
| 5 | Section 01, Christopher Connor | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “Executive Compensation”. As printed: 975,333. Filing ↗machine: r11 · c25 · span 1310966–1310973 |
| 6 | Section 03, Christopher Connor RSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗machine: span 1544562–1544568 |
| 7 | Section 03, Christopher Connor PSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗ |
| 8 | Section 03, Gladys Farrow PSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗ |
| 9 | Section 03, Gladys Farrow RSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗machine: span 1559892–1559898 |
| 10 | Section 03, Paul Rowley PSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗ |
| 11 | Section 03, Paul Rowley RSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗machine: span 1527960–1527966 |
| 12 | Section 03, Robert Sprowls RSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗machine: span 1496189–1496196 |
| 13 | Section 03, Robert Sprowls PSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗ |
| 14 | Section 03, Eva Tang RSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗machine: span 1512610–1512616 |
| 15 | Section 03, Eva Tang PSU | DEF 14A | 2026-04-03 | 0001140361-26-013117 | Section “What equity awards granted to these named executive officers were outstanding at the end of the year?” · grants of plan-based awards table. Filing ↗ |
| 16 | Section 06, 2026 vote | Form 8-K | 2026-05-21 | 0001628280-26-037056 | Item 5.07 · say-on-pay result. As reported: 92.06% (votes for as printed: 28,620,741). Filing ↗ |
| 17 | Section 06, 2025 vote | Form 8-K | 2025-05-22 | 0001056903-25-000011 | Item 5.07 · say-on-pay result. As reported: 93.61% (votes for as printed: 28,175,605). Filing ↗ |
| 18 | Section 06, 2024 vote | Form 8-K | 2024-05-23 | 0001628280-24-024970 | Item 5.07 · say-on-pay result. As reported: 95.17% (votes for as printed: 27,159,142). Filing ↗ |
| 19 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 20 | American States Water (subject), Section 10b CEO total | DEF 14A | 2026-04-03 | 0001140361-26-013117 | CEO total compensation as printed in American States Water's own proxy. As printed: 5,028,665. Filing ↗machine: r2 · c25 · span 1256354–1256364 |