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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 30, 2008
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SJW Corp.
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(Exact name of registrant as specified in its charter)
California 1-8966 77-0066628
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
110 W. Taylor Street, San Jose, California 95110
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(Address of principal executive offices) (Zip Code)
(408) 279-7800
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Registrant's telephone number, including area code
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(b) Effective August 11, 2008, Angela Yip will no longer serve
as the Chief Financial Officer and Treasurer of SJW Corp. and
Chief Financial Officer, Treasurer and Senior Vice President of
Finance of San Jose Water Company, SJW Corp.'s wholly owned
subsidiary. Instead, as of that date, Ms. Yip will serve as,
and hold the title of, Executive Vice President of Finance of
SJW Corp. and San Jose Water Company.
(c) David A. Green, 45, has been appointed Chief Financial
Officer and Treasurer of SJW Corp. and San Jose Water Company
effective August 11, 2008.
Mr. Green served as Vice President, Chief Financial Officer and
Treasurer of Specialized Health Products International, Inc., a
medical device company ("SHPI"), from September 2006 until June
2008. Mr. Green managed the financial operations, investor
relations and Merger and Acquisition activities for SHPI. From
2003 to September 2006, Mr. Green worked for Duff & Phelps, LLC,
an investment banking and financial advisory firm, where he was
in charge of the life sciences investment banking practice in
San Francisco, California. Mr. Green was a director in Ernst &
Young's Center for Strategic Transactions from 1998 through 2001
where he advised Silicon Valley technology and life science
companies on transaction strategies for accelerating growth. Mr.
Green is a graduate of the State University of New York and has
an MBA degree from the University of Rochester.
Mr. Green will receive an annual base salary equal to $225,000
and a one-time cash bonus in the amount of $50,000. Mr. Green
will also be eligible to earn a performance-based bonus for the
2008 fiscal year which will range from zero to 150 percent of
$25,000 depending on corporate and individual performance. On
August 11, 2008, Mr. Green will also receive a restricted stock
unit award covering a number of shares of Common Stock of SJW
Corp. determined by dividing the dollar sum of $50,000 by the
closing selling price per share on that date. Such award will
be subject to a four-year vesting schedule tied to Mr. Green's
continued service with the company, and the underlying shares
will be distributed as the award vests. Mr. Green may also
become entitled to certain severance benefits under SJW Corp.'s
Executive Severance Plan in the event his employment terminates
under certain defined circumstances in connection with a change
in control of SJW Corp. The principal features of the Executive
Severance Plan are summarized in the Proxy Statement filed by
SJW Corp. on March 11, 2008.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description of Document
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99.1 Press Release issued by SJW Corp., dated July 3, 2008
announcing the promotion of Angela Yip to Executive
Vice President of Finance and the appointment of
David A. Green as Chief Financial Officer
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
SJW Corp.
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July 3, 2008 /s/ W. Richard Roth
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W. Richard Roth,
President and
Chief Executive Officer
Exhibit
Number Description of Document
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99.1 Press Release issued by SJW Corp., dated July 3, 2008
announcing the promotion of Angela Yip to Executive
Vice President of Finance and the appointment of
David A. Green as Chief Financial Officer
EXHIBIT 99.1
SJW CORP. PROMOTES ANGELA YIP TO EXECUTIVE VICE PRESIDENT OF
FINANCE AND APPOINTS DAVID A. GREEN AS CHIEF FINANCIAL OFFICER
SAN JOSE, CA, July 3, 2008 - Today SJW Corp. (NYSE: SJW) announced new
management appointments to become effective on August 11, 2008.
Angela Yip, 54, will be promoted to the position of Executive Vice
President of Finance of SJW Corp. and its subsidiary San Jose Water Company.
Ms. Yip is currently the Chief Financial Officer and Treasurer of SJW Corp.,
and Chief Financial Officer, Treasurer, and Senior Vice President of Finance
of San Jose Water Company. In her new capacity, Ms. Yip will be primarily
responsible for strategic planning and forecasting, capital management, risk
management, and other finance functions. Ms. Yip will continue to report to
W. Richard Roth, President and Chief Executive Officer.
David A. Green, 45, will serve as Chief Financial Officer and Treasurer of
SJW Corp. and San Jose Water Company. Mr. Green will assume responsibility for
the management of the accounting function. His primary responsibilities will
include the maintenance and preparation of accounting records, internal and
external reporting, external auditing, Sarbanes-Oxley compliance, and other
functions associated with the generation of financial information.
Mr. Green comes to SJW Corp. from Specialized Health Products International,
Inc., where he served as Chief Financial Officer, Treasurer and Vice President
since September 2006. Specialized Health Products was a publicly traded
company until its acquisition in June 2008 by C.R. Bard, Inc. As CFO, Mr.
Green managed the company's financial operations, investor relations, and
merger and acquisition activities. Before this, he was in charge of the life
sciences investment banking practice for Duff & Phelps, LLC, an investment
banking and financial advisory firm. Mr. Green earned his MBA in Finance
from the University of Rochester, New York.
SJW Corp. is a publicly traded holding company headquartered in San
Jose, California. SJW Corp. is the parent company of San Jose Water Company,
SJWTX, Inc. and SJW Land Company. Together, San Jose Water Company and SJWTX,
Inc. provide regulated and nonregulated water service to more than one million
people in San Jose, California and nearby communities and in Canyon Lake,
Texas. SJW Land Company owns and operates commercial buildings, has a
majority interest in a real estate partnership, and has properties in the
states of California, Florida, Connecticut, Texas, Arizona and Tennessee.
This press release may contain certain forward-looking statements including
but not limited to statements relating to SJW Corp.'s plans, strategies,
objectives, expectations and intentions, which are made pursuant to the
safe harbor provisions of the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of SJW Corp. to be materially different from
any future results, performance or achievements expressed or implied by
such forward-looking statements. Certain factors that may cause actual
results, performance or achievements to materially differ are described
in SJW Corp.'s most recent reports on Form 10-K, Form 10-Q and Form 8-K
filed with the Securities and Exchange Commission. SJW Corp. undertakes
no obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.