Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 54

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 54
---
 The committee’s use of general industry, utilities industry and energy industry compensation data reflects the competitive labor market from which we recruit executives. Corporate Officer Backgrounds Sempra’s 19 officers as of December 31, 2024 were hired from a broad range of industries, including accounting and finance, consulting, energy, law and utilities. Figure 5 Market Review The Compensation and Talent Development Committee seeks to provide compensation opportunities for our executives that are commensurate with the competitive labor market. Some shareholders provided feedback about the number of companies included in the Compensation and Talent Development Committee’s annual labor market review under the approach used in prior years. The Fall 2022 labor market review consisted of two peer groups and included more than 200 peer companies (a general industry peer group consisted of 187 non-financial Fortune 500 companies with revenues of $7.5 billion to $30.25 billion from Radford’s Global Compensation Database and a utilities industry peer group consisted of the 27 companies that comprised the S&P 500 Utilities Index, excluding water companies). The Compensation and Talent Development Committee adopted a simpler, more transparent approach beginning with the labor market review in Fall 2023 that informed the 2024 compensation program, using a single 28-company peer group composed of general industry, utilities industry and energy industry companies (Compensation Peer Group). The Compensation Peer Group is representative of the broad multi-industry labor market from which officer roles are recruited. The committee reviews compensation data at the 25 th, 50 thand 75 thpercentiles of the Compensation Peer Group data, in total and by component (base salaries, target performance-based annual bonuses and target long-term equity-based incentives), and generally targets alignment with the 50 thpercentile. However, positioning relative to the 50 thpercentile may vary based on factors such as the comparability of market survey positions to the scope and structure of our positions, performance, experience, time in position and succession planning considerations. Based on the Fall 2023 labor market review, 2024 target total compensation for Messrs. Martin and Mihalik fell within the third quartile (between the 50 thand 75 thpercentiles) of the Compensation Peer Group data. Target total compensation for 2024 for Ms. Sedgwick, who was promoted to Executive Vice President and Chief Financial Officer effective January 1, 2024, fell within the second quartile (between the 25 thand 50 thpercentiles) of the Compensation Peer Group data for the