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Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Arrangement, Expensed and Capitalized, Amount
Share-based compensation to both employees and non-employees were as follows:
Years Ended
December 31,
(in thousands)20252024
Employee - RSA$540 $562 
Employee - RSU299329
Total employee share-based compensation839891
Non-employee - RSA173205
Non-employee - RSU(151)(69)
Total non-employee share-based compensation22136
Total share-based compensation$861 $1,027 
Schedule of Share-based Compensation, Stock Options, Activity
A summary of stock option activity was as follows:
(in thousands, except option prices and years)Number of OptionsWeighted Average Remaining Contractual LifeAggregate Intrinsic Value
Options Outstanding at December 31, 20243993.6$595.8 
Granted— 
Exercised— 
Forfeited(2)
Cancelled— 
Options Outstanding at December 31, 20253972.3— 
Options Vested at December 31, 20253972.3$— 
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award
The following table details total units granted and outstanding as of December 31, 2025, along with the amounts paid to holders of the RSUs:
(in thousands, except unit amounts)Years Ended
December 31,
Grant DateUnits GrantedUnits Outstanding20252024
Q1 202222,262 — $20 $87 
Q1 202330,366 — 100 117 
Q1 202432,093 9,963 106 125 
Q1 202534,935 23,283 90 — 
Total119,656 33,246 $316 $329 
Summary of RSU Award Transactions
The following table is a summary of the RSU award transactions for the year ended December 31, 2025:
(in shares, except per unit amounts)Restricted Stock UnitsWeighted Average Award Date Fair Value per Unit ($)
Non-vested at December 31, 202429,664 $12.33 
Granted36,373 11.08 
Forfeited(256)10.31 
Vested(32,535)9.83 
Non-vested at December 31, 202533,246 $11.71 
Schedule of RSA and RSU Transactions
The following table is a summary of the RSA transactions for the year ended December 31, 2025:
(in shares, except per unit amounts)Restricted Stock AwardsWeighted Average Award Date Fair Value per Unit ($)
Non-vested at December 31, 202450,835 $14.04 
Granted53,000 10.47 
Forfeited(2,000)11.55 
Vested(30,501)15.68 
Non-vested at December 31, 202571,334 $10.76 
The following table is a summary of the non-employee director RSA transactions for the year ended December 31, 2025:
(in shares, except per unit amounts)Restricted Stock AwardsWeighted Average Award Date Fair Value per Unit ($)
Non-vested at December 31, 2024— $— 
Granted20,366 9.87 
Forfeited— — 
Vested(20,366)9.87 
Non-vested at December 31, 2025— $— 
Schedule of Deferred Compensation Arrangement with Individual, Share-Based Payments
As these are liability awards, fluctuations in the Company’s stock price can lead to similar fluctuations in cumulative compensation expense (i.e., increases in stock price lead to additional compensation expense and decreases in stock price lead to reductions in compensation expense) in a given period. Based on GWRI’s closing share price on December 31, 2025 (the last trading date of the year), share-based compensation expense to be recognized over future periods is estimated for the years ending December 31 as follows:
(in thousands)Restricted Stock Units
2026$184 
202799 
Total$283 
Schedule of Recipients of SARs Awards, Grant Date, Units Granted, Exercise Price, Outstanding Shares and Amounts Paid The following table details the grant date, units granted, exercise price, outstanding units as of December 31, 2025 and amounts paid:
(in thousands, except unit and per unit amounts)Years Ended
December 31,
Grant DateUnits GrantedExercise PriceUnits Outstanding20252024
Q1 2015(1)
299,000 $4.26 — $— $90 
Q1 2018(2)
33,000 $8.99 8,250 — — 
Total332,000 8,250 $— $90 
(1)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.
(2)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.