DEFERRED COMPENSATION AWARDS (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Total Awards Granted, Number of Units Outstanding and Amounts Paid to PSU and RSU Holders and RSA Units Granted and Compensation Expense Related to the Grant

The following table details total awards granted and the number of units outstanding as of March 31, 2024, along with the amounts paid to holders of the restricted stock units (“RSUs”) for the three months ended March 31, 2024 and 2023 (in thousands, except unit amounts):

			Amounts Paid For the Three Months Ended March 31,
Grant Date	Units Granted	Units Outstanding	2024		2023
Q1 2020	22,481	—	—		24
Q1 2021(1)	27,403	—	28		30
Q1 2022(1)	22,262	7,112	23		25
Q1 2023(1)	30,366	19,399	32		—
Q1 2024(1)	30,962	30,962	—		—
Total	133,474	57,473	$	83	$	79

(1)Pursuant to the Global Water Resources, Inc. 2020 Omnibus Incentive Plan, effective May 7, 2020, long-term incentive awards are no longer granted in the form of PSUs and are granted as RSUs instead.

The following table details the RSA units granted during the three months ended March 31, 2024 and 2023, as well as the compensation expense related to the grant and partial vesting of RSAs for the three months ended March 31, 2024 and 2023 (in thousands, except share amounts):

	For The Three Months Ended March 31,
	2024		2023
Compensation expense	$	198	$	255
RSAs issued	0		0

Schedule of Recipients of SARs Awards, Grant Date, Units Granted, Exercise Price, Outstanding Shares and Amounts Paid

The following table details the recipients of the stock appreciation rights (“SARs”) awards, the grant date, units granted, exercise price, outstanding units as of March 31, 2024 and amounts paid during the three months ended March 31, 2024 and 2023 (in thousands, except unit and per unit amounts):

						Amounts Paid For the Three Months Ended March 31,
Recipients	Grant Date	Units Granted	Exercise Price		Units Outstanding	2024		2023
Members of Management (1)(2)	Q1 2015	299,000	$	4.26	12,500	$	—	$	165
Members of Management (1)(3)	Q1 2018	33,000	$	8.99	8,250	—		—
Total		332,000			20,750	$	—	$	165

(1)The SARs vested ratably over 16 quarters from the grant date.

(2)The exercise price was determined to be the fair market value of one share of GWR Global Water Resources Corp. stock on the grant date of February 11, 2015.

(3)The exercise price was determined to be the fair market value of one share of GWRI stock on the grant date of March 12, 2018.

Schedule of Estimated Future Compensation Expense

Based on GWRI’s closing share price on March 28, 2024 (the last trading date of the quarter), deferred compensation expense to be recognized over future periods is estimated for the years ending December 31 as follows (in thousands):

	RSUs
2024 (remaining period)	$	259
2025	255
2026	131
Total	$	645