H2O AMERICA — Form 10-Q

H2O America's Board amended its director compensation policies and equity award program effective January 1, 2027. Non-employee directors' annual retainers range from $100,000 (board member) to $225,000 (non-executive chair), with committee fees of $5,000–$25,000. The Formulaic Equity Award Program grants non-employee directors $130,000 in restricted stock units annually (up from prior levels, specific prior amount not disclosed), vesting in one year with 50% post-vesting retention requirement until equity guidelines are met. New deferral election provisions allow directors to defer share issuance under Section 409A.