XML 31 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
YearSummary Compensation Table Total for Mr. Thornburg ($)Compensation Actually Paid to Mr. Thornburg ($)(1)Average Summary Compensation Table Total for Non-CEO NEOs ($)(2)Average Compensation Actually Paid to Non-CEO NEOs ($)(1)(2)Value of Initial Fixed $100 Investment Based on:Net Income (thousands)($)Adjusted Diluted EPS ($)(4)
Total Shareholder Return ($) S&P 1000 Utilities Index Total Shareholder Return ($)(3)
20244,045,212 1,809,440 1,411,736 1,084,127 77.40 123.90 93,967 2.93 
20234,210,736 3,040,179 1,350,918 967,212 99.95 99.67 84,987 2.76 
20223,185,995 4,590,645 992,647 1,043,718 121.57 104.34 73,828 2.37 
20213,288,886 2,754,516 995,670 1,004,775 107.21 104.92 60,478 1.87 
20203,213,749 2,323,211 1,509,541 887,589 99.57 86.71 61,515 2.24 
       
Company Selected Measure Name Adjusted Diluted EPS        
Named Executive Officers, Footnote The following individuals are our other Named Executive Officers for each fiscal year:
YearCEONon-CEO NEOs
2024
Eric Thornburg
Bruce Hauk, Kristen Johnson, Tanya Moniz-Witten, and Andrew Walters
2023Eric ThornburgWillie Brown, Bruce Hauk, Kristen Johnson, and Andrew Walters
2022Eric ThornburgAndrew Gere, Bruce Hauk, Kristen Johnson, James Lynch, Andrew Walters, and Maureen Westbrook
2021Eric ThornburgAndrew Gere, James Lynch, Andrew Walters, and Maureen Westbrook
2020Eric ThornburgAndrew Gere, James Lynch, Suzy Papazian, and Andrew Walters
       
PEO Total Compensation Amount $ 4,045,212 $ 4,210,736 $ 3,185,995 $ 3,288,886 $ 3,213,749
PEO Actually Paid Compensation Amount $ 1,809,440 3,040,179 4,590,645 2,754,516 2,323,211
Adjustment To PEO Compensation, Footnote Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, adjusted as follows:
2020
2021
2022
2023
2024
AdjustmentsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY(1,152,286)(269,674)(1,282,631)(262,473)(1,692,981)(311,991)(1,709,660)(287,875)(1,670,168)(390,421)
2020
2021
2022
2023
2024
AdjustmentsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End1,018,166 241,679 1,242,978 262,208 2,197,855 261,303 1,376,320 233,398 928,369 279,873 
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date— — — 8,019 — 7,200 — 6,299 — 6,795 
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End(170,466)(41,443)(215,751)(20,597)316,753 23,261 (459,915)(73,131)(639,460)(73,661)
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date (6,171)(17,437)(128,319)(8,834)136,732 (220)(213,231)(25,328)(657,019)(65,131)
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End(202,059)(43,685)— — — (28,750)— — — — 
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date — — — — — — — — — 
Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY— — — — — — — — — — 
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Non qualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY(791,763)(632,101)(634,950)(84,225)(49,697)(6,469)(688,654)(297,356)(748,516)(146,317)
Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans414,041 128,210 484,303 103,258 495,988 106,739 524,583 57,427 551,022 58,151 
2020
2021
2022
2023
2024
AdjustmentsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Increase for Above-Market or Preferential
Earnings on Deferred Compensation that is not Tax Qualified
— 12,499 — 11,749 — — — 2,860 — 3,102 
TOTAL ADJUSTMENTS(890,538)(621,952)(534,370)9,105 1,404,650 51,073 (1,170,557)(383,706)(2,235,772)(327,609)
       
Non-PEO NEO Average Total Compensation Amount $ 1,411,736 1,350,918 992,647 995,670 1,509,541
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,084,127 967,212 1,043,718 1,004,775 887,589
Adjustment to Non-PEO NEO Compensation Footnote Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, adjusted as follows:
2020
2021
2022
2023
2024
AdjustmentsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY(1,152,286)(269,674)(1,282,631)(262,473)(1,692,981)(311,991)(1,709,660)(287,875)(1,670,168)(390,421)
2020
2021
2022
2023
2024
AdjustmentsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End1,018,166 241,679 1,242,978 262,208 2,197,855 261,303 1,376,320 233,398 928,369 279,873 
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date— — — 8,019 — 7,200 — 6,299 — 6,795 
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End(170,466)(41,443)(215,751)(20,597)316,753 23,261 (459,915)(73,131)(639,460)(73,661)
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date (6,171)(17,437)(128,319)(8,834)136,732 (220)(213,231)(25,328)(657,019)(65,131)
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End(202,059)(43,685)— — — (28,750)— — — — 
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date — — — — — — — — — 
Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY— — — — — — — — — — 
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Non qualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY(791,763)(632,101)(634,950)(84,225)(49,697)(6,469)(688,654)(297,356)(748,516)(146,317)
Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans414,041 128,210 484,303 103,258 495,988 106,739 524,583 57,427 551,022 58,151 
2020
2021
2022
2023
2024
AdjustmentsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOsMr. ThornburgAverage non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Mr. Thornburg
Average non-CEO NEOs
Increase for Above-Market or Preferential
Earnings on Deferred Compensation that is not Tax Qualified
— 12,499 — 11,749 — — — 2,860 — 3,102 
TOTAL ADJUSTMENTS(890,538)(621,952)(534,370)9,105 1,404,650 51,073 (1,170,557)(383,706)(2,235,772)(327,609)
       
Compensation Actually Paid vs. Total Shareholder Return
Narrative Disclosure to Pay Versus Performance Table
Relationship between Financial Performance Measures
The line graphs below compare: (i) the compensation actually paid to our CEO and the average of the compensation actually paid to our remaining named executive officers, with (ii) our cumulative TSR, (iii) Comparator Group TSR, (iv) our Net Income, and (v) our Adjusted Diluted EPS, in each case, for the fiscal years ended December 31, 2020, 2021, 2022, 2023, and 2024.
TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.
Compensation Actually Paid vs Total Shareholder Return v3.jpg
       
Compensation Actually Paid vs. Net Income
Narrative Disclosure to Pay Versus Performance Table
Relationship between Financial Performance Measures
The line graphs below compare: (i) the compensation actually paid to our CEO and the average of the compensation actually paid to our remaining named executive officers, with (ii) our cumulative TSR, (iii) Comparator Group TSR, (iv) our Net Income, and (v) our Adjusted Diluted EPS, in each case, for the fiscal years ended December 31, 2020, 2021, 2022, 2023, and 2024.
TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.
Compensation Actually Paid vs Net Income v2.jpg
       
Compensation Actually Paid vs. Company Selected Measure
Narrative Disclosure to Pay Versus Performance Table
Relationship between Financial Performance Measures
The line graphs below compare: (i) the compensation actually paid to our CEO and the average of the compensation actually paid to our remaining named executive officers, with (ii) our cumulative TSR, (iii) Comparator Group TSR, (iv) our Net Income, and (v) our Adjusted Diluted EPS, in each case, for the fiscal years ended December 31, 2020, 2021, 2022, 2023, and 2024.
TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.
Compensation Actually Paid vs Adj. Diluted EPS v3.jpg
       
Total Shareholder Return Vs Peer Group
Narrative Disclosure to Pay Versus Performance Table
Relationship between Financial Performance Measures
The line graphs below compare: (i) the compensation actually paid to our CEO and the average of the compensation actually paid to our remaining named executive officers, with (ii) our cumulative TSR, (iii) Comparator Group TSR, (iv) our Net Income, and (v) our Adjusted Diluted EPS, in each case, for the fiscal years ended December 31, 2020, 2021, 2022, 2023, and 2024.
TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.
Compensation Actually Paid vs Total Shareholder Return v3.jpg
       
Tabular List, Table Adjusted diluted EPS;
Capital additions;
Customer satisfaction;
Employee satisfaction;
Environmental leadership – water quality;
Return on equity; and
rTSR percentile positioning.
       
Total Shareholder Return Amount $ 77.40 99.95 121.57 107.21 99.57
Peer Group Total Shareholder Return Amount 123.90 99.67 104.34 104.92 86.71
Net Income (Loss) $ 93,967,000 $ 84,987,000 $ 73,828,000 $ 60,478,000 $ 61,515,000
Company Selected Measure Amount | $ / shares 2.93 2.76 2.37 1.87 2.24
PEO Name Eric Thornburg Eric Thornburg Eric Thornburg Eric Thornburg Eric Thornburg
Additional 402(v) Disclosure TSR is cumulative for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2024, 2023, 2022, 2021, and 2020, respectively, calculated in accordance with Item 201(e) of Regulation S-K. The S&P 1000 Utilities Index is the same index we use in our relative TSR plan to help determine compensation for our named executive officers and is described as such in the Compensation Discussion and Analysis section.        
Measure:: 1          
Pay vs Performance Disclosure          
Name •Adjusted diluted EPS        
Non-GAAP Measure Description Adjusted Diluted EPS is a non-GAAP measure that is derived from diluted earnings per share reported in SJW Group's audited financial statements adjusted to exclude certain compensation-related items, gains and losses on asset sales, changes in the fair value of equity investments, impairments of long-lived assets, and acquisition-related costs. Adjusted Diluted EPS presented above is calculated as defined in SJW Group's incentive plans which may provide for different adjustments compared to the adjustments the Corporation uses to calculate Adjusted Diluted EPS that is presented in earnings releases, investor presentations, and other external communications. Refer to Appendix A of this Proxy Statement for a reconciliation to the most directly comparable GAAP measure.        
Measure:: 2          
Pay vs Performance Disclosure          
Name •Capital additions        
Measure:: 3          
Pay vs Performance Disclosure          
Name •Customer satisfaction        
Measure:: 4          
Pay vs Performance Disclosure          
Name •Employee satisfaction        
Measure:: 5          
Pay vs Performance Disclosure          
Name •Environmental leadership – water quality        
Measure:: 6          
Pay vs Performance Disclosure          
Name •Return on equity        
Measure:: 7          
Pay vs Performance Disclosure          
Name •rTSR percentile positioning        
PEO          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (2,235,772) $ (1,170,557) $ 1,404,650 $ (534,370) $ (890,538)
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (748,516) (688,654) (49,697) (634,950) (791,763)
PEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 551,022 524,583 495,988 484,303 414,041
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,670,168) (1,709,660) (1,692,981) (1,282,631) (1,152,286)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 928,369 1,376,320 2,197,855 1,242,978 1,018,166
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (639,460) (459,915) 316,753 (215,751) (170,466)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (657,019) (213,231) 136,732 (128,319) (6,171)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 (202,059)
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0
PEO | Equity Awards, Award Modifications During the Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Adjustment, Increase for Above-Market or Preferential Earnings on Deferred Compensation that is not Tax Qualified [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (327,609) (383,706) 51,073 9,105 (621,952)
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (146,317) (297,356) (6,469) (84,225) (632,101)
Non-PEO NEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 58,151 57,427 106,739 103,258 128,210
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (390,421) (287,875) (311,991) (262,473) (269,674)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 279,873 233,398 261,303 262,208 241,679
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (73,661) (73,131) 23,261 (20,597) (41,443)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,795 6,299 7,200 8,019 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (65,131) (25,328) (220) (8,834) (17,437)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 (28,750) 0 (43,685)
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Equity Awards, Award Modifications During the Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Adjustment, Increase for Above-Market or Preferential Earnings on Deferred Compensation that is not Tax Qualified [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 3,102 $ 2,860 $ 0 $ 11,749 $ 12,499