Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 79

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 79
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 the awards. They are calculated in accordance with GAAP for financial reporting purposes based on the assumptions described in Note 13 of the Notes to Consolidated Financial Statements included in our 2024 Annual Report to Shareholders but disregarding estimates of forfeitures related to service-based vesting conditions. |

Stock awards consist of performance-based and service-based restricted stock units. For the performance-based restricted stock units with a performance measure based on total shareholder return, a Monte Carlo valuation model is used to calculate grant date fair value. For the performance-based restricted stock units with a performance measure based on EPS growth (as adjusted for LTIP purposes), the amounts included in this table assume the target level of performance conditions were achieved. The maximum values for these EPS growth-based awards granted in 2024, assuming the highest level of performance conditions were achieved, would be $8,483,348 for Mr. Martin; $1,335,342 for Ms. Sedgwick; $1,278,780 for Mr. Bird; $544,084 for Ms. Day; and $2,533,450 for Mr. Mihalik. For the service-based restricted stock units, the awards were valued at the fair market value of shares of our common stock at the crediting date without reduction for non-transferability, and the amounts included in this table are equal to the number of shares subject to such awards multiplied by the grant date closing price of our common stock. All performance-based and service-based restricted stock units will be settled in shares of Sempra common stock upon vesting, unless deferred in accordance with the terms of the Employee and Director Savings Plan in the case of performance-based restricted stock units, in which case they will be settled in shares of Sempra common stock following separation of service from the company. Option awards consist solely of service-based nonqualified stock options. A Black-Scholes valuation model is used to calculate their grant date fair value.

| 68 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Executive Compensation

The value actually realized by executives from stock and option awards will depend upon the extent to which performance and service-based vesting conditions are satisfied and the market value of the shares subject to the award upon vesting and sale. For additional information regarding stock and option awards, see “Grants of Plan-Based Awards” and “Outstanding Equity Awards at Year-End” below.

| (E) | Represents (i) the aggregate change in the actuarial present value of accumulated benefits under pension plans at year