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Utilities

H2O America Executive Compensation (FY25)

HTO · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Andrew Walters
Median of the other named officers
$1,391,132
5 officers, excluding the chief executive
Latest say-on-pay support
=
May 13, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 27, 2026Latest filing (8-K): May 19, 2026
13 filings cited on this page
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394 figures on this page: 384 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

More on H2O America

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Andrew Walters: $1,344,608 → $2,872,942 (113.7% higher)
Say-on-pay support: 94.6% → 97.4% (2.8 points higher)
CEO pay ratio: 31:1 → 21:1 (32.3% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is H2O America's chief executive and what were they paid?
Andrew Walters, Chief Executive Officer and Chairman of the Board, received $2,872,942 in total compensation for fiscal 2025. Walters' total was 113.7% higher than the $1,344,608 reported for fiscal 2024.
What was H2O America's say-on-pay result?
Shareholders supported the say-on-pay proposal with 97.4% of votes cast for or against in favor at the meeting held May 13, 2026 for fiscal 2025.
Which companies are in H2O America's peer group?
The disclosed peer group includes Alliant Energy Corporation, Consolidated Edison, Inc., DTE Energy Company, Exelon Corporation and NiSource Inc., among others.
What is H2O America's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 21:1.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Eric Thornburg
President, Chief Executive Officer and Chairman of the Board of SJW Group
◇—◇—◇◇◇◇
Bruce Hauk
Chief Operating Officer of SJW Group
◇◇◇—◇◇◇◇
Andrew Walters
Chief Financial Officer and Treasurer of SJW Group
◇—◇—◇—◇◇
Kristen Johnson
Senior Vice President and Chief Administrative Officer of SJW Group
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Eric Thornburg
President, Chief Executive Officer and Chairman of the Board of SJW Group
◇—◇—◇◇◇◇
Kristen Johnson
Senior Vice President and Chief Administrative Officer of SJW Group
◇—◇—◇◇◇◇
Andrew Walters
Chief Financial Officer and Treasurer of SJW Group
◇—◇—◇◇◇◇
Bruce Hauk
Chief Operating Officer of SJW Group
◇—◇—◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Eric Thornburg
President, Chief Executive Officer and Chairman of the Board of SJW Group
◇—◇—◇◇◇◇
Tanya Moniz-Witten
President, San Jose Water Company
◇◇◇—◇◇◇◇
Kristen Johnson
Senior Vice President and Chief Administrative Officer of SJW Group
◇—◇—◇◇◇◇
Andrew Walters
Chief Financial Officer and Treasurer of SJW Group
◇—◇—◇—◇◇
Bruce Hauk
Chief Operating Officer of SJW Group
◇—◇—◇◇◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Eric Thornburg
Former President, Chief Executive Officer and Chairman of the Board
Departed during or after this year
◇—◇——◇◇◇
Andrew Walters
Chief Executive Officer and Chairman of the Board
◇—◇—◇◇◇◇
Kristen Johnson
President of Shared Services, Senior Vice President and Chief Administrative Officer
◇—◇—◇◇◇◇
Bruce Hauk
President and Chief Operating Officer
◇—◇—◇◇◇◇
Willie Brown
Vice President and General Counsel
◇—◇—◇◇◇◇
Ann Kelly
Chief Financial Officer and Treasurer
◇—◇—◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Andrew F. WaltersPSU◇◇◇—◇—◇
Andrew F. WaltersRSU◇——◇——◇
Andrew F. WaltersPSU◇◇◇—◇—◇
Andrew F. WaltersRSU◇——◇——◇
Andrew F. WaltersPSU◇◇◇—◇—◇
Andrew F. WaltersPSU◇◇◇—◇—◇
Ann KellyRSU◇——◇——◇
Ann KellyPSU◇◇◇—◇—◇
Ann KellyRSU◇——◇——◇
Ann KellyPSU◇◇◇—◇—◇
Ann KellyPSU◇◇◇—◇—◇
Ann KellyPSU◇◇◇—◇—◇
Bruce A. HaukRSU◇——◇——◇
Bruce A. HaukRSU◇——◇——◇
Bruce A. HaukPSU◇◇◇—◇—◇
Bruce A. HaukPSU◇◇◇—◇—◇
Eric W. ThornburgRSU◇——◇——◇
Eric W. ThornburgPSU◇◇◇—◇—◇
Eric W. ThornburgPSU◇◇◇—◇—◇
Kristen A. JohnsonRSU◇——◇——◇
Kristen A. JohnsonPSU◇◇◇—◇—◇
Kristen A. JohnsonPSU◇◇◇—◇—◇
Kristen A. JohnsonRSU◇——◇——◇
Willie BrownPSU◇◇◇—◇—◇
Willie BrownRSU◇——◇——◇
Willie BrownPSU◇◇◇—◇—◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Eric ThornburgPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Andrew WaltersRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Ann KellyRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Bruce HaukPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Willie BrownPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Kristen JohnsonPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gregory P. Landis
Lead independent director
◇◇————◇
Daniel B. More
◇◇————◇
Carol P. Wallace
◇◇————◇
Heather Hunt
◇◇————◇
Mary Ann Hanley
◇◇————◇
Rebecca A. Klein
◇◇————◇
Denise L. Kruger
◇◇————◇
Carl Guardino
◇◇————◇
Eric W. Thornburg
Board chair
◇—————◇
Nick O. Rowe served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Alliant Energy Corporation LNT
  • Consolidated Edison, Inc. ED
  • DTE Energy Company DTE
  • Exelon Corporation EXC
  • NiSource Inc. NI
  • Southwest Gas Holdings, Inc. SWX

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 13, 2026=◇◇◇
2024May 14, 2025=◇◇◇
2023June 20, 2024=◇◇◇
2022April 26, 2023=◇◇◇
2021April 27, 2022=◇◇◇
2020April 28, 2021=◇◇◇
2019April 29, 2020=◇◇◇
2018April 24, 2019=◇◇◇
2017April 25, 2018=◇◇◇
2016April 26, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Andrew Walters (Chief Executive Officer and Chairman of the Board), FY2025 total compensation $2,872,942 (base salary $619,308) [exec_comp, SEC accession 0001628280-26-023458, filed 2026-04-03]

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What this page does not include

Everything above is a fact H2O America disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where H2O America sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
394 figures on this page: 384 cited to the filing that reported them, 10 calculated from figures it prints.
384 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001628280-26-036086
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001628280-26-023458
    Compensation of Directors · Grants of Plan-Based Awards · Outstanding Equity Awards at Fiscal Year-End · Pay Ratio Disclosure · and 1 more section
  3. 0000766829-25-000054
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000766829-25-000027
    Summary Compensation Table
  5. 0000766829-24-000062
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000766829-23-000106
    Item 5.07: Submission of Matters to a Vote of Security Holders.
  7. 0000766829-23-000078
    Summary Compensation Table
  8. 0001193125-22-132961
    Item 5.07: Submission of Matters to a Vote of Security Holders.
  9. 0000766829-21-000069
    Item 5.07: Submission of Matters to a Vote of Security Holders.
  10. 0000766829-20-000087
    Item 5.07: Submission of Matters to a Vote of Security Holders.
  11. 0000766829-19-000084
    Item 5.07: Submission of Matters to a Vote of Security Holders.
  12. 0000766829-18-000090
    Item 5.07: Submission of Matters to a Vote of Security Holders.
  13. 0000766829-17-000061
    Item 5.07: Submission of Matters to a Vote of Security Holders.
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “H2O America executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/HTO (accessed 2026).
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The paid brief for H2O America

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
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13 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Utilities rankings

Chief executive pay — UtilitiesCEO pay ratio — UtilitiesSay-on-pay support — Utilities

Peers H2O America discloses

The companies named in HTO's own disclosed peer group.

Alliant Energy CorporationConsolidated Edison, Inc.DTE Energy CompanyExelon CorporationNiSource Inc.Southwest Gas Holdings, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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