H2O AMERICA — Director's Dealing 2017

Apr 27, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SJW GROUP (SJW)
CIK: 0000766829
Period of Report: 2017-04-26

Reporting Person: ARMSTRONG KATHARINE (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-26	Common Stock	A	1155	—	Acquired	5662	Direct
2017-04-26	Common Stock	G	957	—	Disposed	4705	Direct
2017-04-26	Common Stock	G	957	—	Acquired	4793	Indirect

Footnotes

F1: Represents 1,155 restricted stock units granted to the reporting person under the Issuer's Long-Term Incentive Plan. Each restricted stock unit will entitle the reporting person to receive one share of the Issuer's common stock when that unit vests. The units will vest in full upon the reporting person's continuation in Board service through the day immediately preceding the date of the Issuer's 2018 annual stockholders meeting, subject to accelerated vesting under certain prescribed circumstances.

F2: Includes 2,550 shares of the issuer's common stock, 2,112 shares of the issuer's common stock underlying restricted stock units, and 1,000 shares of the issuer's common stock held in an IRA account.

F3: Represents shares of the issuer's common stock issued in the name of Katharine Armstrong as trustee for the Katharine Armstrong Love Exempt Trust U/A/D 6/30/2009 upon settlement of restricted stock units previously reported by the reporting person in Table I as directly owned.

F4: Includes 2,550 shares of the issuer's common stock, 1,155 shares of the issuer's common stock underlying restricted stock units, and 1,000 shares of the issuer's common stock held in an IRA account.