Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 69

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 69
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 compensation plan available to officers and certain other key management employees. Our named executive officers also participate in our pension plans, consisting of our Cash Balance Plan in which all named executive officers participate, a Supplemental Executive Retirement Plan in which Messrs. Martin and Bird and Ms. Sedgwick participate, and Mr. Mihalik participated prior to his retirement, and a Cash Balance Restoration Plan in which Ms. Day participates. The Cash Balance Plan, the Cash Balance Restoration Plan and the SERP use only base salary and performance-based annual bonuses in calculating benefits. The value of long-term incentive plan awards and other equity awards is not included. These plans are further described in Tables 19 and 20 below.

| Plan Type        |     | Plan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |     | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Savings Plans    |     | Sempra Savings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 Plan (401(k) Savings Plan)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |     | Employees may contribute a portion of their eligible pay to a tax-qualified 401(k) savings plan, the Sempra Savings Plan. Contributions to the plan may be invested on a tax-deferred or after-tax basis (including a Roth option). The Internal Revenue Code limits the amount of compensation eligible for deferral under tax-qualified plans.                                                                                                                
 Employees may receive company contributions of up to 4% of eligible pay. Eligible pay generally includes base salary and performance-based annual bonus, net of any amounts contributed under the deferred compensation plan. The basic company matching contribution is equal to one-half of the first 6% of the employee’s contributions. In addition, employees receive a “stretch match” equal to one-fifth of the next 5% of the employee’s contributions. 
 All employee contributions and related investment earnings in the 401(k) savings plan vest immediately. Employees are eligible to participate in the plan and receive company matching contributions upon hire. Company matching contributions (including related earnings) vest after one year of service.                                                                                                                                                     |
| Employee and     
 Director Savings 
 Plan (Deferred   
 Compensation     
 Plan)            |     | Our executive officers and other key management employees also may defer up to 85% of their base salary and performance-based annual bonus under a nonqualified deferred compensation plan, the Employee and Director Savings Plan. Executive officers also may defer all or a portion of certain performance-based restricted stock unit awards upon vesting.                                                                                                                                                                                                                                                                                       
 Participants can direct these deferrals into:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 •Funds that