XML 27 R15.htm IDEA: XBRL DOCUMENT v3.25.1
Equity Plans
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Equity Plans Equity Plans
SJW 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 (“ESPP”). As of March 31, 2025, 231,971 shares are issuable upon the vesting of outstanding restricted stock units and deferred restricted stock units and an additional 931,045 shares are available for award issuances under the long-term incentive plans.
A summary of compensation costs charged to income, by award type, and proceeds from the ESPP, are presented below for the three months ended March 31, 2025 and 2024:
 Three months ended March 31,
 20252024
Compensation costs charged to income:
   ESPP$89 195 
   Restricted stock and deferred restricted stock1,121 1,343 
Total compensation costs charged to income$1,210 1,538 
ESPP proceeds$1,116 1,101 
Restricted Stock and Deferred Restricted Stock
For the three months ended March 31, 2025 and 2024, SJW Group granted 46,405 and 37,520, respectively, of three-year service-based restricted stock awards with a weighted average grant date fair value per unit of $44.17 and $61.10, respectively.
For the three months ended March 31, 2025 and 2024, SJW Group granted 56,646 and 44,433 target units, respectively, of performance-based and market-based restricted stock awards with a weighted-average grant date fair value per unit of $51.87 and $53.69, 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 March 31, 2025, the total unrecognized compensation costs related to restricted and deferred restricted stock plans was $8,981. This cost is expected to be recognized over a weighted average period of 2.18 years.