Global Water Resources, Inc. — Director's Dealing 2016

May 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Global Water Resources, Inc. (GWRS)
CIK: 0001434728
Period of Report: 2016-05-03

Reporting Person: Tedesco David C (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-03	Deferred Phantom Unit	$	A	27293	Acquired		Common Stock (27293)	Direct

Footnotes

F1: On May 3, 2016, Global Water Resources, Inc. (the "Company") completed its merger (the "Merger") with GWR Global Water Resources Corp. ("GWRC") pursuant to which GWRC merged with and into the Company, with the Company surviving as a Delaware corporation. The deferred phantom units ("DPUs") were originally granted at monthly and quarterly intervals from 2013 through the date of this report and became fully vested upon grant. The DPUs originally provided the reporting person the right to receive a cash payment, the value of which, on a particular date, was to be the market value of the equivalent number of GWRC common shares at that date. Upon consummation of the Merger, the DPUs were amended such that the value of the DPUs track the performance of the Company's common stock going forward. The DPUs are only permitted to be redeemed upon the reporting person ceasing to be a director of the Company and do not have a set expiration date.