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Global Water Resources Executive Compensation (FY25)

GWRS · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Ron Fleming
Latest say-on-pay support
=
May 14, 2026
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Data as of November 6, 2026Latest filing (8-K): May 18, 2026
8 filings cited on this page
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135 figures on this page: 130 cited to the filing that reported them, 5 calculated from figures it prints. See the citations

More on Global Water Resources

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Ron Fleming: $753,670 → $819,403 (8.7% higher)
Say-on-pay support: 98.8% → 96.1% (2.7 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Global Water Resources' chief executive and what were they paid?
Ron Fleming, Chairman, President, and Chief Executive Officer, received $819,403 in total compensation for fiscal 2025. Fleming's total was 8.7% higher than the $753,670 reported for fiscal 2024.
What was Global Water Resources' say-on-pay result?
Shareholders supported the say-on-pay proposal with 96.1% of votes cast for or against in favor at the meeting held May 14, 2026 for fiscal 2025.
Which companies are in Global Water Resources' peer group?
The disclosed peer group names American States Water Company, Artesian Resources Corporation, California Water Service Group, Chesapeake Utilities Corporation and Consolidated Water Co. Ltd., among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ron Fleming
Chairman, President, and Chief Executive Officer
◇—◇—◇—◇◇
Michael Liebman
Chief Financial Officer and Corporate Secretary
◇—◇—◇—◇◇
Christopher Krygier
Chief Operating Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ron Fleming
Chairman, President, and Chief Executive Officer
◇—◇—◇—◇◇
Michael Liebman
Chief Financial Officer and Corporate Secretary
◇—◇—◇—◇◇
Christopher Krygier
Chief Operating Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ron Fleming
Chairman, President, and Chief Executive Officer
◇—◇—◇—◇◇
Michael Liebman
Chief Financial Officer and Corporate Secretary
◇—◇—◇—◇◇
Christopher Krygier
Chief Operating Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ron Fleming
Chairman, President, and Chief Executive Officer
◇—◇—◇—◇◇
Michael Liebman
Chief Financial Officer and Corporate Secretary
◇—◇—◇—◇◇
Christopher Krygier
Chief Operating Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2023
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Christopher KrygierRSA◇——◇———
Michael LiebmanRSA◇——◇———
Ron FlemingRSA◇——◇———
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Ron FlemingRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Michael LiebmanRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Christopher KrygierRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Richard M. Alexander
◇◇———◇◇
David Rousseau
◇◇———◇◇
Debra G. Coy
◇◇———◇◇
Brett Huckelbridge
◇◇———◇◇
Andrew M. Cohn
◇◇———◇◇
Jonathan L. Levine
◇◇————◇
Ron L. Fleming served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Rsas.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • American States Water Company AWR
  • Artesian Resources Corporation symbol not shown
  • California Water Service Group CWT
  • Chesapeake Utilities Corporation CPU
  • Consolidated Water Co. Ltd. symbol not shown
  • Genie Energy Ltd. symbol not shown
  • Middlesex Water Company symbol not shown
  • Northwest Natural Holding Company NWN
  • Otter Tail Corporation OTTR
  • Pure Cycle Corporation PUMP
  • RGC Resources, Inc. RGC
  • SJW Group SJW
  • The York Water Company YORW
  • Unitil Corporation UTL

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 14, 2026=◇◇◇
2024May 15, 2025=◇◇◇
2023May 9, 2024=◇◇◇
2022May 3, 2023=◇◇◇
2021May 5, 2022=◇◇◇

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Sample answer — “What is the CEO’s total compensation?”
- Ron Fleming (Chairman, President, and Chief Executive Officer), FY2025 total compensation $819,403 (base salary $385,000) [exec_comp, SEC accession 0001628280-26-022461, filed 2026-03-31]

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What this page does not include

Everything above is a fact Global Water Resources disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Global Water Resources sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
135 figures on this page: 130 cited to the filing that reported them, 5 calculated from figures it prints.
130 cited to the filing
5 calculated from the filing

Documents cited

  1. 0001628280-26-036066
    Item 5.07 Submission of Matters to a Vote of Security Holders.
  2. 0001628280-26-022461
    Director Compensation Table · Outstanding Equity Awards at 2025 Fiscal Year-End · Summary Compensation Table
  3. 0001434728-25-000171
    Item 5.07 Submission of Matters to a Vote of Security Holders.
  4. 0001434728-25-000133
    Summary Compensation Table
  5. 0001434728-24-000157
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001434728-24-000095
    Summary Compensation Table
  7. 0001434728-23-000158
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001434728-22-000158
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Global Water Resources executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/GWRS (accessed 2026).
Short form: data: Velarion

The paid brief for Global Water Resources

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$500 for the Executive Compensation Report. Both reports for $900.
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8 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Global Water Resources discloses

The companies named in GWRS's own disclosed peer group.

American States Water CompanyCalifornia Water Service GroupNorthwest Natural Holding CompanyOtter Tail CorporationPure Cycle CorporationThe York Water CompanyUnitil Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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