Form 4: Sempra CEO Jeffrey Martin Sells 50,703 Shares Under 10b5-1 Trading Plan

Sempra's Chairman, CEO, and President, Jeffrey W. Martin, sold 50,703 shares of common stock on February 28, 2024, under a pre-established Rule 10b5-1 trading plan.

Summary

• On February 28, 2024, Jeffrey W. Martin, Chairman, CEO, and President of Sempra, sold 50,703 shares of Sempra common stock.
• The sale was executed at a weighted average price of $70.92 per share, with individual prices ranging from $70.62 to $71.53.
• The transaction was conducted under a pre-existing trading plan established on August 8, 2022, in accordance with Rule 10b5-1(c) of the Securities Exchange Act of 1934.
• Following the transaction, Martin directly owns 2.27 shares and indirectly owns 18,342.49 shares through a 401(k) savings plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the sale was conducted under a pre-planned 10b5-1 trading plan. It doesn't necessarily indicate a negative outlook on the company.

Industry Context

Sales by insiders are a common occurrence, and the use of 10b5-1 plans allows corporate executives to sell shares over a pre-determined period, avoiding concerns about trading on inside information. The market will often look at the size and frequency of such sales to gauge sentiment.

Comparison to Industry Standards

• Comparing Jeffrey Martin's trading activity to other utility company executives requires access to their individual filings.
• Generally, executives use 10b5-1 plans to diversify their holdings or for personal financial planning.
• The size of the transaction (50,703 shares) is relatively modest compared to the total outstanding shares of Sempra, but still a significant amount of money.

Stakeholder Impact

• The sale could have a minor negative impact on shareholder sentiment, although the pre-planned nature of the sale mitigates this concern.
• The impact on employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates