H2O AMERICA — Director's Dealing 2012

Jan 4, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SJW CORP (SJW)
CIK: 0000766829
Period of Report: 2012-01-03

Reporting Person: CALI MARK L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-03	Common Stock	A	667	$23.47	Acquired	23375	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	23639	Indirect
Common Stock	258094	Indirect
Common Stock	1200	Indirect
Common Stock	288	Indirect
Common Stock	27000	Indirect

Footnotes

F1: The securities represent deferred shares of the issuer's common stock credited to the reporting person's deferred compensation account pursuant to dividend equivalent rights. Those rights resulted initially in the addition of cash sums to the account equal to the dividends which would have been paid during the 2011 calendar year on the deferred stock credited to such account had that stock actually been issued and outstanding on each dividend payment date, and the accumulated sums were then converted into additional shares of deferred stock on January 3, 2012 based on the average of the closing selling prices of the issuer's common stock on each of the dates during the 2011 calendar year on which actual dividends on the common stock were paid. The resulting shares of deferred stock will be distributed as actual shares of the issuer's common stock at a specified time.

F2: Includes 23,375 shared of deferred stock which will be distributed as actual shares of the Issuer's Common Stock at a specified time.