Tighten the adjusting ring whenever you have a drip from the end of the spout and/or see water coming from beneath the lever handle. Tightening the adjusting ring applies increased pressure to the seats and valve seal.
A combination 1/8 hex key & spanner wrench was included with your faucet. Use the hex key to loosen the set screw located on the face of the lever handle then lift the lever handle to remove it from the ball valve stem.
Observe if there is water puddled in the adjusting ring atop the ball valve. If so, the adjusting ring has been too loose and water is leaking past the valve seal.
Use the spanner to tighten the adjusting ring. Only slight clockwise adjustment should be required.
If the adjusting ring is adjusted too tightly, the lever handle will be difficult to move. If the adjusting ring is adjusted too loosely, water will leak past the seats and/or valve seal.
You can tell if the valve seal is leaking by observing water coming from beneath the lever handle and dripping down over the valve retaining nut onto the chrome cover. Water may also drip down the inside of the valve retaining cap and onto the chrome cover.
It is important to keep the adjusting ring properly set. If allowed to leak, lime or other minerals in your water can deposit on the threads that attach the valve retaining ring to the valve body and make it very difficult to remove the valve retaining ring when the time comes for valve parts replacement.
If the adjusting ring cannot be set so that water does not drip from the spout, water does not leak from the valve seal and the handle moves freely all at the same time, K2300 Valve Seats & Springs and/or K2305 Valve Seal & Cam should be replaced.