Form 4: Sempra Energy CEO Jeffrey Martin Reports Acquisition of Phantom Shares

Sempra Energy's Chairman, CEO, and President, Jeffrey W. Martin, reported the acquisition of phantom shares under the company's deferred compensation plan.

Summary

• On March 4, 2024, Jeffrey W. Martin, Chairman, CEO, and President of Sempra Energy, filed a Form 4 to report changes in beneficial ownership.
• The report details the acquisition of 52,873.35 phantom shares of Sempra Common Stock under Sempra's deferred compensation plan.
• The acquisition price was $70.74 per phantom share, resulting in a total acquisition cost of $3,740,261.
• Martin directly owns 145,754.64 derivative securities following the reported transaction.
• The phantom shares are payable in cash and can be transferred into an alternative investment account.
• The conversion rate for the derivative security is 1 for 1, and the shares are immediately exercisable with no expiration date.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing an executive's compensation. It's neutral in tone and doesn't inherently suggest positive or negative sentiment about the company's overall performance.

Positives

• The acquisition of phantom shares by the CEO demonstrates confidence in the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity within Sempra's executive compensation structure.

Stakeholder Impact

• The acquisition of phantom shares aligns the CEO's interests with those of the shareholders, as the value of the shares is tied to the company's stock performance.

Key Dates