Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 49

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 49
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 Group President, California; Mr. Bird, who is the Chief Executive Officer of Sempra Infrastructure, was promoted to Executive Vice President of Sempra while retaining his role at Sempra Infrastructure; and Ms. Day, who was previously Deputy General Counsel, was promoted to Chief Legal Counsel. In setting 2024 compensation, the Compensation and Talent Development Committee considered the company’s and each named executive officer’s performance, the experience they bring to their roles, the desire to retain seasoned, high-performing senior leadership and market compensation data and market positioning relative to general industry data and utility peers that are most similar to Sempra. See “Labor Market Reviews” below for additional information on how the committee uses external market data. Based on its review, the committee approved increases to the target total direct compensation for all the named executive officers from 2023 to 2024. The committee believes these adjustments are appropriate in the context of broader market trends and each individual’s roles, responsibilities and contributions to advancing our strategic priorities. With respect to Mr. Martin, he is a seasoned Chief Executive Officer and his target total direct compensation reflects his performance and leadership. In determining the target total direct compensation for the other named executive officers, the committee considered that each assumed a new role effective January 1, 2024, among other factors.

| Name              |     | Base Salary |     | Target Value of 2024 
    Performance-Based 
         Annual Bonus |     | Target 2024 LTIP 
      Award Value |     |   Target 2024 Total 
 Direct Compensation |
| Jeffrey W. Martin |     |  $1,600,000 |     |           $2,800,000 |     |      $12,725,000 |     |         $17,125,000 |
| Karen L. Sedgwick |     |    $630,000 |     |            $ 567,000 |     |      $ 2,003,000 |     |         $ 3,200,000 |
| Justin C. Bird    |     |    $780,000 |     |            $ 702,000 |     |      $ 1,918,000 |     |         $ 3,400,000 |
| Diana L. Day      |     |    $510,000 |     |            $ 306,000 |     |        $ 816,000 |     |         $ 1,632,000 |
| Trevor I. M