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

Director Michael N. Mears reports acquisition of 1,641.07 restricted phantom shares of Sempra common stock on May 9, 2024.

Summary

• On May 9, 2024, Michael N. Mears, a director of Sempra, acquired 1,641.07 shares of restricted phantom stock.
• These shares are the economic equivalent of Sempra Common Stock.
• The shares are subject to forfeiture if Mears' service as a director terminates before the 2025 Annual Meeting of Sempra Shareholders, unless due to death, disability, or removal without cause.
• Vested shares, along with reinvested dividend equivalents, will be paid to Mears in cash following separation of service.
• Following the transaction, Mears directly owns 1,641.07 derivative securities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It reports a transaction related to director compensation.

Future Outlook

The vested shares plus reinvested dividend equivalents are paid to the director in cash following separation of service.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as directors and officers, in their company's stock. This allows the public to monitor insider activity, which can provide insights into management's perspective on the company's value and prospects.

Stakeholder Impact

• The acquisition of restricted phantom shares by a director aligns the director's interests with those of the shareholders, as the value of the shares is tied to the performance of Sempra's common stock.

Key Dates