Form 4: Sempra Director Pablo Ferrero Reports Acquisition of Phantom Shares as Director Compensation

Director Pablo Ferrero reports acquiring 175.17 phantom shares of Sempra common stock as part of director compensation on April 1, 2024.

Summary

• On April 1, 2024, Pablo Ferrero, a director of Sempra, acquired 175.17 phantom shares of Sempra common stock.
• This acquisition was part of director compensation.
• The price per share was $71.36.
• Following the transaction, Ferrero beneficially owns 13,867.79 shares.
• This total includes 1,671.12 unvested restricted phantom shares that are subject to forfeiture under certain conditions.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. The acquisition of phantom shares as compensation is a standard practice.

Positives

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

Risks

• The 1,671.12 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 the director's long-term alignment with the company.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The acquisition of phantom shares as compensation is a common practice to align the interests of directors with those of shareholders.

Stakeholder Impact

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

Key Dates