X0306 4 2016-05-03 0 0001434728 Global Water Resources, Inc. GWRS 0001672998 Bowers Cindy M C/O GLOBAL WATER RESOURCES, INC. 21410 N 19TH AVENUE #220 PHOENIX AZ 85027 1 0 0 0 Common Stock 2016-05-03 4 A 0 63524 A 237002 D Stock Option (Right to Buy) 8.65 2018-06-23 Common Stock 43393 43393 D 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. Holders of GWRC's common shares received one share of the Company's common stock for each then outstanding common share of GWRC. As a result, the reporting person received 63,524 shares of the Company's common stock for the 63,524 common shares of GWRC held by the reporting person prior to the consummation of the Merger. On April 28 2016, the Company effected a 100.68-for-1 forward stock split of its common stock. The number of shares reported reflects the stock split. This stock option was previously reported as covering 431 shares at an exercise price of $870.66 per share, but was adjusted to reflect the stock split described in footnote (2) to this Form 4. This stock option is immediately exercisable. /s/ Joanne Ellsworth, attorney-in-fact 2016-05-05