Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 47

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 47
---
 energy peers |
| Variable      |     | Performance-Based 
 Annual Bonus      |     | Cash                                                                                                                                                                                                                                         |     | •Based on ABP Earnings (weighted at 80%), Safety Measures (weighted at 12%) and Sustainability Measures (weighted at 8%)                                               
 •No bonus payment unless company meets threshold performance level for the year and maximum payouts are capped                                                         |
| Long-Term     
 Equity-Based  
 Incentives(1) |     | Equity            |     | •Performance-Based Restricted Stock Units (weighted at two-thirds collectively)                                                                                                                                                              
 •Relative TSR Performance-Based Restricted Stock Units (weighted at one-third):3-year relative TSR, allocated as follows:                                                                                                                    
 –70% relative TSR measured against S&P 500 Utilities Index; maximum payout requires performance at 90th percentile of S&P 500 Utilities Index peers(2)                                                                                       
 –30% relative TSR measured against S&P 500 Index; maximum payout requires performance at 90th percentile of S&P 500 Index peers                                                                                                              
 •EPS Growth Performance-Based Restricted Stock Units (weighted at one-third):3-year adjusted EPS CAGR relative to the 3-year adjusted EPS CAGRs of S&P 500 Utilities Index peers; maximum payout requires performance at the 90th percentile 
 •3-year performance period for each performance measure                                                                                                                                                                                      
 •For all of our performance-based restricted stock unit awards, performance below threshold results in zero payout                                                                                                                           
 •Stock Options and/or Service-Based Restricted Stock Units (weighted at one-third)(3)Vest ratably over three years                                                                                                                           |     |                                                                                                                                                                        |

Table 3

| (1) | As used in this Compensation Discussion and Analysis, the term “long-term equity-based incentives” refers to the annual LTIP awards granted on January 2, 2024. |

| (2) | For purposes of long-term equity-based incentives, all references to the S&P 500 Utilities Index or our S&P 500 Utilities Index peers refer to the companies constituting the S&P 500 Utilities Index, excluding water companies. |

| (3) | The 2024 annual LTIP award for Messrs. Martin, Mihalik and Bird and Ms. Sedgwick did not include service-based restricted stock units, and the 2024 annual LTIP award for Ms. Day did not include stock options. |

Note: Based on 2024 annual base salary, 2024 target performance-based annual bonus and the target grant date value of 2024