H2O AMERICA — Director's Dealing 2018

Mar 1, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SJW GROUP (SJW)
CIK: 0000766829
Period of Report: 2018-02-28

Reporting Person: Papazian Suzy (Gen. Counsel/Corp. Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-28	Common Stock	F	386	$52.94	Disposed	7079	Direct
2018-02-28	Common Stock	G	733	—	Disposed	6346	Direct
2018-02-28	Common Stock	G	733	—	Acquired	5526	Indirect

Footnotes

F1: Represents 386 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 return on equity ("ROE") restricted stock units ("RSU") reported on the Form 4 filed on February 27, 2018.

F2: Represents 4,264 shares of the issuer's common stock and 2,815 shares of the issuer's common stock underlying RSUs that will vest and become issuable in accordance with their terms.

F3: Represents an aggregate of 733 shares of common stock that were issued and transferred by reporting person to the John Affaki and Suzy Papazian Living Trust dated December 10, 2008 in connection with the issuance of shares of common stock underlying the ROE RSU described in footnote 1 above.

F4: Represents 3,531 shares of the issuer's common stock and 2,815 shares of the issuer's common stock underlyng RSUs that will vest and become issuable in accordance with their terms.

F5: Includes an aggregate of 733 shares of common stock that were issued and transferred by the reporting person to the John Affaki and Suzy Papazian Living Trust dated December 10, 2008 in connection with the issuance of shares of common stock underlying the ROE RSU described in footnote 1 above.