---
schema_version: "secwatch.filing_event.v1"
accession: "0000766829-25-000012"
form_type: "8-K"
ticker: "HTO"
cik: "0000766829"
company_name: "H2O AMERICA"
filed_at: "2025-03-03T23:59:59+00:00"
generated_at: "2026-05-25T22:18:40.054235+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# SJW Group appoints CFO Andrew Walters as CEO; Thornburg retires but stays Chair

## Summary
- Andrew F. Walters becomes CEO effective July 1, 2025; base salary $685,000, target bonus 95% of base, LTIP target $1,150,000.
- Eric W. Thornburg retires as CEO/President but remains non-executive Chair with $225,000 annual retainer.
- COO Bruce Hauk also named President; base salary $553,725, target incentive 57.5% of salary, retention RSU $110,745.
- Kristen Johnson becomes President of Shared Services; base salary $543,375, target incentive 47.5%, retention RSU $108,675.

## SEC filing metadata
- accession: 0000766829-25-000012
- form_type: 8-K
- ticker: HTO
- cik: 0000766829
- company_name: H2O AMERICA
- filed_at: 2025-03-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/766829/000076682925000012/0000766829-25-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/766829/000076682925000012/sjw-20250226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000766829-25-000012
- JSON: https://secwatch.observer/filing/0000766829-25-000012.json
- Plain text: https://secwatch.observer/filing/0000766829-25-000012.txt

## Key facts
- Executive change
  Eric W. Thornburg retired as Chief Executive Officer and President at H2O AMERICA.
  - Action: retired
  - Role: Chief Executive Officer and President
  source text: Eric W. Thornburg will retire as Chief Executive Officer and President of the Company, also effective July 1, 2025. Mr. Thornburg will continue to serve as non-executive Chair
  evidence_url: https://www.sec.gov/Archives/edgar/data/766829/000076682925000012/0000766829-25-000012-index.htm
- Executive change
  Andrew F. Walters was appointed as Chief Executive Officer at H2O AMERICA.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: appointed Andrew F. Walters, the Company's current Chief Financial Officer and Treasurer, to the position of Chief Executive Officer, effective July 1, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/766829/000076682925000012/0000766829-25-000012-index.htm
- Executive change
  Bruce Hauk changed role as President at H2O AMERICA.
  - Action: promoted
  - Role: President
  source text: Bruce Hauk, the Company's Chief Operating Officer, will also serve as President of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/766829/000076682925000012/0000766829-25-000012-index.htm
- Executive change
  Kristen Johnson changed role as President of the Shared Services organization at H2O AMERICA.
  - Action: promoted
  - Role: President of the Shared Services organization
  source text: Kristen Johnson, the Company's Senior Vice President and Chief Administrative Officer, will also step into the role of President of the Shared Services organization
  evidence_url: https://www.sec.gov/Archives/edgar/data/766829/000076682925000012/0000766829-25-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.