awk-20251216

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 16, 2025

American Water Works Company, Inc.

(Exact name of registrant as specified in its charter)

Commission File Number: 001-34028


Delaware			51-0063696
(State or other jurisdiction of incorporation)			(IRS Employer Identification No.)

1 Water Street

Camden, NJ 08102-1658

(Address of principal executive offices, including zip code)

(856) 955-4001

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Common stock, par value $0.01 per share

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New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

Kentucky Public Service Commission (“KPSC”) Issuance of Final Order in Kentucky-American Water Company (“Kentucky American Water”) General Rate Case

On December 16, 2025, the KPSC issued a final order (the “Order”) approving the adjustment of base rates requested in a general rate case originally filed on May 16, 2025 by Kentucky American Water, a wholly owned subsidiary of American Water Works Company, Inc. (the “Company”). The Order approved an $18.2 million annualized increase in water system revenues, excluding infrastructure surcharges of $9.9 million, based on an authorized return on equity (“ROE”) of 9.70%, authorized rate base of $667.0 million, and a capital structure with a common equity component of 52.26% and a non-equity component of 47.74%, as compared to an authorized ROE of 9.70%, an authorized rate base of $489.4 million, and a capital structure with a common equity component of 52.22% and a non-equity component of 47.78%, all as approved in Kentucky American Water’s last general rate case effective May 3, 2024. The Order also terminated Kentucky-American Water’s Qualified Infrastructure Program (“QIP”) rider and included the costs and investments of the QIP in approved base rates. The requested annualized revenue increase was driven primarily by approximately $212 million of capital investments completed and planned by Kentucky American Water from February 2025 through December 2026. The new rates are effective as of December 16, 2025.

A copy of the press release issued by Kentucky American Water on December 17, 2025 has been filed as Exhibit 99.1 hereto and is incorporated herein by reference. References and links to websites and other information contained in this press release are not provided as active hyperlinks, and the information contained in or accessed through these hyperlinks shall not be incorporated into, or form a part of, this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits to this Current Report have been filed herewith (except as noted below):


Exhibit No.						Description
99.1*						Press Release, dated December 1 7 , 2025, issued by Kentucky American Water.
104						Cover Page Interactive Data File (the cover page XBRL tags are included and formatted as Inline XBRL).
*Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AMERICAN WATER WORKS COMPANY, INC.

Dated:

December 18, 2025

By:

/s/ DAVID M. BOWLER

David M. Bowler

Executive Vice President and Chief Financial Officer

Exhibit 99.1

Kentucky American Water Granted New Water Rates

by Kentucky Public Service Commission

Increase driven by more than $212 million in system improvements

LEXINGTON, Ky. (December 17, 2025) – The Kentucky Public Service Commission (PSC) has approved new water rates for Kentucky American Water. The approved rates represent a total annualized revenue increase of approximately $18.2 million.

The company’s rate request was filed on May 16, 2025, and was primarily driven by more than $212 million in water treatment and distribution system improvements made since the company’s last rate filing. These improvements help ensure Kentucky American Water continues to provide safe, clean, reliable and affordable drinking water service to our customers and supports economic development in our communities.

The new rates are effective as of December 16, 2025. With the approved rate increase, the average monthly bill for residential water customers using an average of 3,900 gallons per month will increase by approximately $2.

“Kentucky American Water is committed to providing safe, clean, reliable and affordable water service to over half a million people in portions of 13 counties,” said Rob Burton, president of Kentucky American Water. “Our long-term, efficient and consistent approach to capital investment enables us to achieve the high level of water service our customers expect and deserve while also helping ensure compliance with state and federal regulations.”

Customers will be informed of the approved rates by mail and through the company’s website at www.kentuckyamwater.com.

Kentucky American Water offers customer assistance programs that include payment plans, budget billing and, for income-eligible customers, the company’s H2O Help to Others customer assistance program. More information can be found by clicking the Customer Assistance Program link under Customer Service & Billing on the company’s website.

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About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,700 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About Kentucky American Water

Kentucky American Water, a subsidiary of American Water, is the largest regulated water utility in the state, with 150 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 527,000 people.

For more information, visit Kentucky American Water’s website and join Kentucky American Water on Facebook, X, Instagram and LinkedIn.

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For further information:

Media Contact:

Susan Lancho

Senior Manager, External and Government Affairs

Kentucky American Water

[email protected]

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