H2O AMERICA — Director's Dealing 2020

Jan 6, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SJW GROUP (SJW)
CIK: 0000766829
Period of Report: 2020-01-02

Reporting Person: Walters Andrew F (Chief Corp Development Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-02	Common Stock	A	1508	—	Acquired	14951	Direct
2020-01-02	Common Stock	F	342	$69.63	Disposed	14609	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100	Indirect

Footnotes

F1: Represents 1,508 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 will entitle the reporting person to receive one share of the issuer's common stock when that unit vests. The units will vest in three successive annual installments upon the reporting person's completion of each year of service with the issuer over the three-year period measured from the date of grant, subject to accelerated vesting under certain prescribed circumstances.

F2: Represents 10,914 shares of the issuer's common stock and 4,037 shares of the issuer's common stock underlying RSUs that will vest and become issuable in accordance with their terms.

F3: Represents 342 shares of common stock withheld of the issuer in satisfaction of the applicable withholding taxes on certain shares of common stock that became issuable on January 2, 2020 pursuant to the terms of the January 2, 2018 and January 2, 2019 Restricted Stock Unit Issuance Agreements between the reporting person and the issuer. 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.

F4: Represents 11,411 shares of the issuer's common stock and 3,198 shares of the issuer's common stock underlying RSUs which will vest and become issuable in accordance with their terms.