H2O AMERICA — Director's Dealing 2017

Mar 1, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SJW GROUP (SJW)
CIK: 0000766829
Period of Report: 2017-02-28

Reporting Person: Gere Andrew (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-28	Common Stock	A	1785	—	Acquired	15151	Direct
2017-02-28	Common Stock	F	660	$48.53	Disposed	14491	Direct

Footnotes

F1: Represents 1,785 shares of common stock that became issuable pursuant to the vesting of Restricted Stock Units ("RSU") upon the attainment of certain performance goal based on return on equity ("ROE") measured over the 2016 calendar year period and continued service by the reporting person through December 31, 2016.

F2: Represents 9,494 shares of the issuer's common stock and 5,657 shares of the issuer's common stock underlying restricted stock units.

F3: Represents 660 shares of common stock withheld by the issuer in satisfaction of the applicable withholding taxes on shares of common stock that became issuable pursuant to the vesting of the ROE RSU reported herein.

F4: Represents 10,619 shares of the issuer's common stock and 3,872 shares of the issuer's common stock underlying restricted stock units.