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Equity Plans | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Equity Plans | Equity PlansSJW Group’s long-term incentive plans provide employees, non-employee board members or the board of directors of any parent or subsidiary, consultants, and other independent advisors who provide services to the company or subsidiary the opportunity to acquire an equity interest in SJW Group. SJW Group also maintains stock plans in connection with its acquisition of CTWS which are no longer granting new stock awards. In addition, shares are issued to employees under SJW Group’s employee stock purchase plan. As of June 30, 2023, 156,299 shares are issuable upon the vesting of outstanding restricted stock units and deferred restricted stock units and an additional 1,132,390 shares are available for award issuances under the long-term incentive plans. On April 26, 2023, SJW Group adopted the successor plans, 2023 Long-Term Incentive Plan and 2023 Employee Stock Purchase Plan, to replace the Amended and Restated Long-Term Incentive Plan (the, “Predecessor Incentive Plan”) and 2014 Employee Stock Purchase Plan (the, “Predecessor ESPP”), respectively. The Predecessor Incentive Plan terminated on April 23, 2023 and Predecessor ESPP terminated on July 31, 2023. Each outstanding award under the Predecessor Incentive Plan will remain outstanding under the Predecessor Incentive Plan and shall be governed solely by the terms of the documents evidencing such awards. The 2023 Long-Term Incentive Plan reserves a total of 1,142,000 shares of SJW Group’s common stock for issuance to employees, non-employee board members or the board of directors of any parent or subsidiary, consultants, and other independent advisors who provide services to the SJW Group and its subsidiaries. The 2023 Employee Stock Purchase Plan reserves for a total of 500,000 shares of SJW Group’s common stock for issuance for eligible employees to purchase common stock at a discount through accumulated payroll deductions. Remaining reserves for both of the predecessor plans will be terminated with the adoption of the successor plans. A summary of compensation costs charged to income and proceeds from the exercise of restricted stock and similar instruments that are recorded to additional paid-in capital and common stock, by award type, are presented below for the three and six months ended June 30, 2023 and 2022:
| Three months ended June 30, |  | Six months ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Compensation costs charged to income: |  |  |  |  |  |  |
ESPP | $ | — |  |  | — |  |  | $ | 191 |  |  | 185 |
Restricted stock and deferred restricted stock | 1,139 |  |  | 1,041 |  |  | 2,147 |  |  | 2,408 |
Total compensation costs charged to income | $ | 1,139 |  |  | 1,041 |  |  | $ | 2,338 |  |  | 2,593 |
ESPP proceeds | $ | — |  |  | — |  |  | $ | 1,080 |  |  | 1,049 |
Restricted Stock and Deferred Restricted Stock For the three months ended June 30, 2023, and 2022, SJW Group granted 9,610 and 12,604, respectively, one year and three year service-based restricted stock awards with a weighted-average grant date fair value per unit of $75.28 and $58.04, respectively. For the six months ended June 30, 2023 and 2022, SJW Group granted 37,342 and 44,003, respectively, one year and three year service-based restricted stock awards with a weighted-average grant date fair value per unit of $77.21 and $65.41, respectively. For the three months ended June 30, 2023, no performance-based or market-based restricted stock awards were granted. For the three months ended June 30, 2022, SJW Group granted 32 target units performance-based and market-based restricted stock awards granted with a weighted-average grant date fair value per unit of $66.14. For the six months ended June 30, 2023 and 2022, SJW Group granted 31,345 and 33,653 target units, respectively, performance-based and market-based restricted stock awards granted with a weighted-average grant date fair value per unit of $80.05 and $70.35, respectively. Based upon actual attainment relative to the target performance metric, the number of shares issuable can range between 0% to 150% of the target number of shares for performance-based restricted stock awards, or between 0% and 200% of the target number of shares for market-based restricted stock awards. As of June 30, 2023, the total unrecognized compensation costs related to restricted and deferred restricted stock plans was $7,121. This cost is expected to be recognized over a weighted-average period of 1.99 years. Employee Stock Purchase Plan SJW Group’s recorded expenses for its ESPP were $106 and $196 for the three and six months ended June 30, 2023, respectively, and $89 and $182 for the three and six months ended June 30, 2022, respectively. The total unrecognized compensation costs related to the semi-annual offering period that ends July 31, 2023, for the employee stock purchase plan is approximately $34. This cost is expected to be recognized during the third quarter of 2023.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
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