Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 90

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 90
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 for Mr. Martin; 19,277 shares and $1,625,190 for Ms. Sedgwick; 29,553 shares and $2,487,127 for Mr. Bird; 12,591 shares and $1,063,136 for Ms. Day; and 54,858 shares and $4,588,156 for Mr. Mihalik. |

| 2025 Proxy Statement |     | 77 |

TABLE OF CONTENTS Executive Compensation

Pension Benefits Our named executive officers participate in our Cash Balance Plan, a broad-based tax-qualified retirement plan that is subject to certain limits under the Internal Revenue Code. Under the plan, we annually credit to a notional account for each participant an amount equal to 7.5% of the participant’s salary and performance-based annual bonus. Account balances earn interest and are fully vested after three years of service. In addition to the Cash Balance Plan, Messrs. Martin and Bird and Ms. Sedgwick participate, and prior to his retirement Mr. Mihalik participated, in a Supplemental Executive Retirement Plan, a nonqualified pension plan designed to recruit and retain executive talent. Under the plan, benefits are calculated using a defined benefit formula based on final average earnings (average base salary for the two consecutive years of highest base salary prior to retirement plus the average of the three highest annual bonuses during the 10 years prior to retirement), years of service and age at retirement of the executive officer. Benefits payable under the Supplemental Executive Retirement Plan are reduced by benefits payable under the Cash Balance Plan. Benefits under the Supplemental Executive Retirement Plan’s defined benefit formula begin to vest after five years of service and attainment of age 55, with full vesting when age plus years of service total 70 or the executive attains age 60, subject to exceptions for certain terminations in connection with a change in control. Benefits for Ms. Sedgwick, who became a participant in the plan on November 14, 2023, will not begin vesting in the defined benefit until she has participated in the plan for five years, after which prior service will be considered. Upon normal retirement at age 62, the annual benefit (as a percentage of final average earnings) in the form of a 50% joint and survivor annuity is 20% after five years of service, 40% after 10 years of service, 50% after 15 years of service, 60% after 20 years of service, 62