Business Context and Reporting Period
Company: American States Water Company (AWR)
Filing Type: Form 8-K (Current Report)
Date of Report: February 20, 2026
Principal Executive Offices: San Dimas, CA
This filing reports the entry into a material definitive agreement regarding the Company's equity distribution program.
Key Financial Metrics
This filing does not contain standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial figure disclosed relates to the equity distribution program:
- Aggregate Offering Price Limit: $200 million
- Remaining Amount Available for Sale: Approximately $40.7 million
Material Changes
On February 20, 2026, the Company amended its Equity Distribution Agreement, originally dated February 27, 2024. The material change involves the replacement of a sales agent:
- Outgoing Agent: Janney Montgomery Scott LLC (JMS)
- Incoming Agent: Huntington Securities, Inc. (Huntington)
- Remaining Agents: Wells Fargo Securities, LLC; RBC Capital Markets, LLC; and Siebert Williams Shank & Co., LLC.
Guidance, Outlook, and Risks
Management Commentary: The Company retains the discretion to offer and sell Common Shares "at the market" through the sales agents under the amended agreement. The filing notes that the sales agents and their affiliates provide various financial services to the Company and its subsidiary, Golden State Water Company (GSWC), for which they receive customary fees.
Risks and Contingencies: The filing states that the summary of the Amendment is not complete and is qualified by the full text of the Amendment filed as Exhibit 1.1. It also includes standard disclaimers that the report does not constitute an offer to sell securities in jurisdictions where such an offer would be unlawful.
Investor Verification Checklist
- Verify the full terms of the Amendment to the Equity Distribution Agreement in Exhibit 1.1.
- Confirm the current status of the $40.7 million remaining under the $200 million "at the market" offering program.
- Review the original Form 8-K filed on February 27, 2024, for the baseline terms of the Equity Distribution Agreement.
- Monitor future filings for actual share sales executed under the amended agreement.