Form 4: Sempra Director Acquires Phantom Shares

Andres Conesa, a Director at Sempra, acquired phantom shares as part of his director compensation on April 1, 2026.

Summary

• Andres Conesa, a Director at Sempra Energy (SRE), acquired 128.32 phantom shares on April 1, 2026.
• These phantom shares were acquired as part of his director compensation.
• The phantom shares are convertible into Sempra Common Stock on a 1-for-1 basis.
• The acquisition was made under a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following the transaction, Conesa beneficially owns 11,516.8 shares of Sempra Common Stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports a routine director compensation transaction without providing new financial information or strategic updates.

Positives

• Director compensation awarded in the form of equity (phantom shares) can align management interests with shareholders.
• The acquisition was made under a Rule 10b5-1(c) plan, suggesting a pre-determined and structured approach to compensation.
• The transaction indicates continued direct ownership by a director, suggesting confidence in the company.

Risks

• The value of phantom shares is tied to the stock price, meaning their value can fluctuate with market conditions.
• While acquired as compensation, the disposal of these shares in the future could impact market supply.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding future financial performance. It solely reports a change in beneficial ownership.

Industry Context

StockSavvy.ai notes that the issuance of phantom shares as director compensation is a common practice in the utility and energy sector, aiming to retain talent and align executive interests with long-term shareholder value.

Corporate Governance

Related Party Transactions

• Acquisition of 128.32 phantom shares by Director Andres Conesa as part of director compensation.

Stakeholder Impact

• Shareholders: The transaction reflects a standard compensation practice, with no immediate direct impact on share price. Continued equity awards can align management with shareholder interests.
• Employees: No direct impact mentioned.
• Creditors: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Customers: No direct impact mentioned.

Next Steps

• The acquired phantom shares are convertible into common stock, with exercisability immediate for vested shares.
• Further transactions by the reporting person will be reported on subsequent SEC filings.

Key Dates

Keywords

Sempra Energy, SRE, Form 4, Director Compensation, Phantom Shares, Beneficial Ownership, Equity Award, Securities Transaction