Form 4: Sempra CEO Jeffrey Martin Reports Acquisition of Phantom Shares

Sempra CEO Jeffrey Martin reports the acquisition of 2,863.65 phantom shares under the company's deferred compensation plan.

Summary

• On March 11, 2025, Jeffrey W. Martin, Chairman, CEO, and President of Sempra, acquired 2,863.65 phantom shares of Sempra Common Stock.
• The acquisition was made under Sempra's deferred compensation plan at a price of $69.84 per phantom share.
• The total acquisition cost was $200,000.
• Following the transaction, Martin directly owns 178,995.74 derivative securities.
• The phantom shares are payable in cash and can be transferred into an alternative investment account.
• The conversion rate for the derivative security is 1 for 1.
• The phantom shares are immediately exercisable and have no expiration date.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine transaction related to executive compensation. It reflects standard practice and doesn't inherently indicate positive or negative performance.

Positives

• The acquisition of phantom shares by the CEO could be seen as a positive sign, indicating confidence in the company's future performance.

Industry Context

Executive compensation in the form of phantom shares is a common practice in publicly traded companies to align management's interests with those of the shareholders.

Comparison to Industry Standards

• Phantom stock plans are a common form of executive compensation, similar to stock options or restricted stock units, used by companies like NextEra Energy, Duke Energy, and Southern Company to incentivize and retain key employees.
• The specific terms of Sempra's deferred compensation plan, such as the vesting schedule and payout terms, would need to be compared to those of its peers to determine its relative attractiveness.

Stakeholder Impact

• The acquisition of phantom shares by the CEO aligns his interests with those of the shareholders, potentially encouraging decisions that increase shareholder value.

Key Dates