Form 4: Sempra Director Michael N. Mears Reports Acquisition of Phantom Shares

Director Michael N. Mears reports acquiring phantom shares of Sempra Common Stock as part of director compensation.

Summary

• Michael N. Mears, a director of Sempra, reported acquiring 148.95 phantom shares of Sempra Common Stock on October 1, 2024.
• The acquisition is part of director compensation.
• The price per share was $83.92.
• Following the transaction, Mears beneficially owns 17,160.61 shares, including 1,654.36 unvested restricted phantom shares.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. It reflects standard compensation practices.

Positives

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

Risks

• The 1,654.36 unvested restricted phantom shares are subject to forfeiture if service as a director terminates prior to vesting for any reason other than death, disability or removal without cause, which could impact Mears' holdings.

Industry Context

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

Stakeholder Impact

• The acquisition of phantom shares by a director aligns their interests with shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates