Form 4: Sempra Director Cynthia Warner Reports Acquisition of Phantom Shares

Director Cynthia Warner acquired 370.31 phantom shares of Sempra common stock as part of director compensation on July 1, 2024.

Summary

• On July 1, 2024, Cynthia J. Warner, a director of Sempra, acquired 370.31 phantom shares of Sempra common stock.
• The acquisition was part of director compensation.
• The price per share was $74.97.
• Following the transaction, Warner directly owns 8,697.27 phantom shares.
• The phantom shares are convertible to common stock on a 1-for-1 basis and are immediately exercisable upon vesting.
• The expiration date is not applicable.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing indicating standard director compensation practices. It doesn't suggest any immediate positive or negative implications for the company's financial health or stock performance.

Positives

• The acquisition of phantom shares as director compensation aligns the director's interests with those of the shareholders.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Comparison to Industry Standards

• Director compensation packages often include stock or phantom stock to align director and shareholder interests, a common practice among publicly traded companies like Sempra.
• Companies such as NextEra Energy, Inc. (NEE) and Duke Energy Corporation (DUK) also utilize similar compensation strategies for their board members.

Stakeholder Impact

• The acquisition of phantom shares by a director can positively impact shareholders by aligning the director's interests with the company's long-term success.

Key Dates