Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 41

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 41
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 66 |

| 2025 Proxy Statement |     | 37 |

TABLE OF CONTENTS Executive Compensation

This Compensation Discussion and Analysis focuses on the compensation of the following individuals, who we collectively refer to as our named executive officers:

| ​Named Executive Officer |     | Title as of December 31, 2024                            |
|:-------------------------|:----|:---------------------------------------------------------|
| Jeffrey W. Martin        |     | Chairman, Chief Executive Officer and President          |
| Karen L. Sedgwick        |     | Executive Vice President and Chief Financial Officer     |
| Justin C. Bird           |     | Executive Vice President                                 |
| Diana L. Day             |     | Chief Legal Counsel                                      |
| Trevor I. Mihalik(1)     |     | Executive Vice President and Group President, California |

Table 1

| (1) | Mr. Mihalik retired effective January 1, 2025. |

Business Overview and Strategy Sempra’s management team has set a clear mission to be North America’s premier energy infrastructure company. In alignment with our mission, we have:

| • | Simplified our business model in order to improve execution, build scale and deliver improved financial results |

| • | Continued to strategically invest in transmission and distribution infrastructure, which is the portion of the energy value chain where we believe there is an attractive risk/reward profile for our owners |

| • | Positioned our three integrated growth platforms in highly attractive and contiguous markets in North America to better serve tens of millions of consumers in both the United States and abroad to help enable the energy transition |

Our investments are focused on opportunities across our platforms that are backed by regulated returns or long-term contracts, which improves our earnings visibility and helps mitigate the risk profile of our businesses. While the majority of our operations are focused on regulated utilities, including our Sempra Texas platform where Oncor is experiencing strong market growth and our dual-utility Sempra California platform advancing investments in safety and reliability, we also have a strong non-utility infrastructure business. Our Sempra Infrastructure platform, which develops infrastructure projects in North America across three business lines —LNG, Energy Networks and Low-Carbon Solutions—has a portfolio of LNG opportunities strategically located in the Pacific and Gulf coasts of North America. We therefore evaluate our performance against both the S&P 500 Utilities Index and the broader market, including the S&P 500 Index. Our labor market for senior management talent also extends beyond the utility industry, as discussed under “Labor Market Reviews.”