[Form 4] SJW Group Insider Trading Activity

Rhea-AI Filing Summary

Bruce A. Hauk, identified as President and COO of the issuer, reported a Form 4 disclosing a share withholding transaction tied to restricted stock units. On 08/22/2025 the reporting person had 116 shares of common stock withheld to satisfy applicable withholding taxes on RSU shares that became issuable that day; those 116 shares were disposed of at a price of $50.98 per share. The Form 4 shows 13,773 shares of common stock beneficially owned following the reported transaction, consisting of 5,548 shares of common stock and 8,225 shares underlying RSUs that will vest and become issuable in accordance with their terms. The filing was signed by an attorney-in-fact on behalf of Mr. Hauk on 08/26/2025.

Insights

Securities Analyst

TL;DR: Officer withheld 116 RSU shares to cover taxes; remaining holdings include vested shares and unvested RSUs totaling 13,773 shares.

The Form 4 documents a standard tax-withholding disposition rather than an open-market sale: 116 shares were withheld at $50.98 per share to satisfy withholding obligations arising from RSUs that became issuable on 08/22/2025. Post-transaction beneficial ownership is reported as 13,773 shares, split between 5,548 directly held shares and 8,225 shares subject to future vesting. This disclosure is routine insider reporting and provides transparency on the officer’s announced ownership and the remaining unvested RSU exposure.

Corporate Governance Expert

TL;DR: Filing reflects a tax-related share withholding by an officer with no indication of change in control or material corporate action.

The filing identifies Bruce A. Hauk as President and COO and indicates the transaction was a withholding of 116 shares in satisfaction of tax obligations tied to RSUs issued under an August 22, 2022 RSU agreement. The report clarifies the composition of beneficial ownership (5,548 shares plus 8,225 RSU underlying shares) and is signed by an attorney-in-fact, which is customary. There are no disclosures of derivative activity, additional dispositions, or other governance concerns in this Form 4.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hauk Bruce A

(Last) (First) (Middle)

110 W. TAYLOR STREET

(Street)

SAN JOSE CA 95110

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
H2O AMERICA [ HTO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and COO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/22/2025		F		116(1)	D	$50.98	13,773(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents 116 shares of the Issuer's common stock ("Common Stock") withheld in satisfaction of the applicable withholding taxes on certain shares of Common Stock that became issuable on August 22, 2025 pursuant to the terms of the August 22, 2022 Restricted Stock Unit Issuance Agreement between the reporting person and the Issuer. The issuable shares were previously reported as Table I securities at the time the restricted stock units ("RSUs") were granted, and accordingly the issuance of those shares is not a reportable transaction on this Form 4.

2. Represents (i) 5,548 shares of Common Stock and (ii) 8,225 shares of Common Stock underlying RSUs which will vest and become issuable in accordance with their terms.

Remarks:

	/s/ Marisa Attorney-in-Fact for Bruce A. Hauk	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Bruce A. Hauk report on the Form 4 for H2O AMERICA (HTO)?

The Form 4 reports that 116 shares of common stock were withheld to satisfy withholding taxes on RSU shares issuable on 08/22/2025, at a price of $50.98 per share.

How many shares does the reporting person beneficially own after the reported transaction?

The reporting person beneficially owns 13,773 shares following the reported transaction, consisting of 5,548 shares of common stock and 8,225 shares underlying RSUs.

What is the nature of the 8,225 shares referenced in the Form 4?

The 8,225 shares represent common stock underlying restricted stock units (RSUs) which will vest and become issuable in accordance with their terms.

When were the RSUs that triggered the withholding originally granted?

The RSUs referenced were granted pursuant to an August 22, 2022 Restricted Stock Unit Issuance Agreement, as stated in the Form 4 explanations.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by an attorney-in-fact (Marisa) for Bruce A. Hauk and dated 08/26/2025 on the filing.