Form 4: Sempra Executive Vice President Justin Christopher Bird Reports Acquisition of Phantom Shares

Executive Vice President of Sempra, Justin Christopher Bird, reports the acquisition of phantom shares under the company's deferred compensation plan.

Summary

• Justin Christopher Bird, an Executive Vice President at Sempra, filed a Form 4 to report changes in beneficial ownership.
• The report indicates the acquisition of 35.7 phantom shares of Sempra Common Stock on January 13, 2025, under the Sempra deferred compensation plan.
• The price of the phantom shares is $77.66.
• Following the reported transaction, Bird beneficially owns 14,970.53 derivative securities.
• The phantom shares were acquired in connection with a deferral of a portion of salary and include additional shares accrued as dividend equivalents since the last report.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing related to executive compensation, indicating standard business operations. The sentiment is neutral to slightly positive as it reflects ongoing alignment of executive interests with the company's performance.

Positives

• The acquisition of phantom shares through a deferred compensation plan is a common practice for executives.
• The reporting of this transaction ensures transparency in executive compensation.

Industry Context

Executive compensation through deferred compensation plans and phantom stock is a common practice in publicly traded companies to align executive interests with shareholder value.

Comparison to Industry Standards

• Deferred compensation plans are a standard component of executive compensation packages in the energy sector, similar to companies like NextEra Energy and Duke Energy.
• The use of phantom shares is a common method to provide equity-based compensation without diluting existing shareholders, aligning with practices seen at comparable firms.

Stakeholder Impact

• Shareholders are informed about changes in executive compensation, promoting transparency.
• Employees may be indirectly affected by the company's financial performance, which is influenced by executive decisions.

Key Dates