H2O AMERICA — Director's Dealing 2018

Jan 4, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SJW GROUP (SJW)
CIK: 0000766829
Period of Report: 2018-01-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-01-03	Common Stock	F	168	$62.87	Disposed	7177	Direct
2018-01-03	Common Stock	G	216	—	Disposed	6961	Direct
2018-01-03	Common Stock	G	216	—	Acquired	4347	Indirect

Footnotes

F1: Represents 168 shares of common stock withheld by the issuer to satisfy the reporting person's tax withholding obligations with respect to an aggregate of 00 shares of common stock underlying Restricted Stock Units ("RSUs") that vested and became issuable on January 3, 2018 pursuant to the terms of the January 3, 2017 Restricted Stock Issuance Agreement between the issuer and the reporting person. The issuable shares were previously reported as Table I securities at the time the restricted stock units were granted, and accordingly the issuance of those shares is not a reportable transaction on this Form 4.

F2: Represents 3,568 shares of the issuer's common stock and 3,609 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 216 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 RSUs described in footnote 1 above.

F4: Represents 3,352 shares of the issuer's common stock and 3,609 shares of the issuer's common stock underlying RSUs that will vest and become issuable in accordance with their terms.

F5: Includes an aggregate of 216 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 RSUs described in footnote 1 above.