AMERICAN STATES WATER COMPANY (NYSE:AWR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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AMERICAN STATES WATER COMPANY (NYSE:AWR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 30, 2017, the Compensation Committee of the Board of Directors approved the 2017 short-term incentive program (the “Bonus Program”) for the executive officers (the “Executive Officers”) of American States Water Company.  Under the terms of the Bonus Program, each of the Executive Officers is eligible to earn an objective cash bonus and a discretionary cash bonus for the 2017 calendar year.

The target aggregate bonus for Robert J. Sprowls, President and Chief Executive Officer of American States Water Company and its subsidiaries, Eva G. Tang, Senior Vice President-Finance, Chief Financial Officer and Corporate Secretary of American States Water Company and its subsidiaries and Treasurer of American States Water Company, Denise L. Kruger, Senior Vice President-Regulated Utilities for Golden State Water Company, James C. Cotton III, Senior Vice President and Procurement Officer of American States Utility Services, Inc. and its subsidiaries, and Patrick R. Scanlon, Vice President-Water Operations for Golden State Water Company is 70%, 30.5%, 30.5%, 50% and 25%, respectively, of his or her base salary for 2017.  The objective bonus is 80% of the target aggregate bonus for each of these Executive Officers and will become payable based upon each Executive Officer’s attainment of specific performance targets set forth in the Bonus Program.  The discretionary bonus is 20% of the target aggregate bonus for each of these Executive Officers and is payable based on the Company’s subjective assessment of the Executive Officer’s performance in the areas of our business over which he or she has responsibility.

A copy of the 2017 Short-Term Incentive Program and the Form of 2017 Short-Term Incentive Program Award Agreement are attached as Exhibits 10.1 and 10.2.

Section 9-Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

The following documents are filed as an Exhibit to this report:

Exhibit 10.1: 2017 Short-Term Incentive Program*

Exhibit 10.2: Form of 2017 Short-Term Incentive Program Award Agreement*

*Management contract or compensatory arrangement.


About AMERICAN STATES WATER COMPANY (NYSE:AWR)

American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc. (ASUS), as well as various subsidiaries of ASUS. The Company’s segments include water, electric and contracted services. Within the segments, AWR has two principal business units, water and electric service utility operations, conducted through GSWC, and contracted services conducted through ASUS and its subsidiaries. GSWC is a public utility engaged principally in the purchase, production, distribution and sale of water in approximately 10 counties in the State of California. GSWC also distributes electricity in various San Bernardino County mountain communities in California through its Bear Valley Electric Service division. ASUS operates, maintains and performs construction activities, including renewal and replacement capital work, on water and/or wastewater systems at various United States military bases.

AMERICAN STATES WATER COMPANY (NYSE:AWR) Recent Trading Information

AMERICAN STATES WATER COMPANY (NYSE:AWR) closed its last trading session up +0.86 at 44.37 with 113,340 shares trading hands.