Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 45

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 45
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 uncertainties. |

| (7) | The arrangement, which is for 5 million tons per annum of LNG offtake and 25% participation in the project-level equity, does not commit any party to enter into definitive agreements or otherwise participate in the applicable project, and the ultimate participation by the parties remains subject to negotiation and finalization of definitive agreements, among other factors. |

| 40 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Executive Compensation

Shareholder Engagement Incorporating shareholder feedback into the decision-making process is a critical component of our compensation program and our overall corporate governance philosophy. Our board and management have a long-standing commitment to engaging our shareholders and listening to their perspectives on, among other matters, key performance, governance and compensation matters. With respect to compensation matters, we engage extensively with shareholders to gather feedback on our current compensation program and potential changes to the program the Compensation and Talent Development Committee may be considering. Our Lead Independent Director, who also served on the Compensation and Talent Development Committee from 2019 through 2023, participates in these shareholder engagement efforts, including attending many of the meetings with our shareholders, to strengthen the communication of shareholder feedback directly to the board. During the shareholder engagement cycle beginning in spring 2024 and continuing through January 2025, which was in addition to our normal investor relations outreach, we reached out to shareholders representing approximately 62% of our total outstanding shares of common stock and held telephonic or videoconference meetings with shareholders representing approximately 56% of our total outstanding shares of common stock (a significant portion of our institutional share ownership). During these meetings, we reviewed our executive compensation program and a variety of other topics as discussed under “Corporate Governance—Board of Directors—Robust Engagement Program” above, gathered shareholder feedback on our program and gained insight into their views and priorities with respect to these matters. The Compensation and Talent Development Committee considered insights gained during our shareholder engagement meetings when they incorporated the Sustainability Measures into the performance-based annual bonus plan in 2021 and when they continued to enhance these measures in subsequent years. During our 2024-2025 shareholder engagement cycle, shareholder feedback on our executive compensation program was generally supportive of our executive compensation program design and the quantum of pay. Key themes of these discussions and updates to our compensation program that were based, in part, on shareholder feedback are discussed below:

| Key Themes               |     | Shareholder Feedback                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| Annual Bonus Plan        |     | •Feedback on the company’s financial