H2O AMERICA — Director's Dealing 2018

Jan 3, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SJW GROUP (SJW)
CIK: 0000766829
Period of Report: 2018-01-02

Reporting Person: Thornburg Eric W (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-01-02	Common Stock	A	3545	—	Acquired	18097	Direct

Footnotes

F1: Represents 3,545 shares of the issuer's common stock underlying restricted stock units ("RSUs") granted to the reporting person under the issuer's Long-Term Incentive Plan. Each RSU entitles the reporting person to receive one share of common stock upon vesting of the RSU. The RSUs will vest in three equal installments on each December 31, 2018, December 31, 2019, and December 31, 2020,subject to continued employment through the respective vesting dates, subject to accelerated vesting under certain prescribed circumstances.

F2: Represents 18,097 shares of the issuer's common stock underlying RSUs that will vest and become issuable in accordance with their terms.