Form 4: Sempra Executive VP Karen Sedgwick Reports Acquisition of Phantom Shares

Executive VP and CFO of Sempra, Karen L. Sedgwick, reports the acquisition of 3,348.5 phantom shares of Sempra Common Stock under the company's deferred compensation plan.

Summary

• Karen L. Sedgwick, Executive VP and CFO of Sempra, filed a Form 4 on May 30, 2024, reporting a transaction.
• The transaction involved the acquisition of 3,348.5 phantom shares of Sempra Common Stock.
• These shares were acquired under Sempra's deferred compensation plan at a price of $74.66 per phantom share.
• The total acquisition cost was $250,000.
• The phantom shares are payable in cash and can be transferred into an alternative investment account.
• The date exercisable is immediate and the expiration date is not applicable.

Sentiment

Score: 6

Explanation: The document itself is neutral, simply reporting a transaction. The acquisition of phantom shares could be seen as a slightly positive sign of executive confidence, but it's a routine part of compensation.

Positives

• The acquisition of phantom shares by a high-ranking executive could be seen as a positive sign of confidence in the company's future.

Future Outlook

There are no explicit forward-looking statements in this document.

Industry Context

Executive compensation, including deferred compensation plans and phantom stock awards, is a common practice in publicly traded companies to align executive interests with shareholder value. The specifics of these plans can vary widely.

Comparison to Industry Standards

• Deferred compensation plans are a common tool used by companies like Sempra and its peers, such as NextEra Energy and Duke Energy, to attract and retain top executive talent.
• Phantom stock plans are often used as a cash-settled alternative to traditional stock options, providing executives with similar incentives without diluting existing shareholders.
• The details of Sempra's plan, such as the vesting schedule and payout terms, would need to be compared to those of its competitors to fully assess its competitiveness.

Stakeholder Impact

• The acquisition of phantom shares has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.

Key Dates