Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 482

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 482
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 2024, 2023 and 2022, respectively. To calculate this fair value, we used the Black-Scholes model with the following weighted-average assumptions:KEY ASSUMPTIONS FOR STOCK OPTIONS GRANTED Years ended December 31,202420232022Sempra:Stock price volatility26.49 %27.35 %26.08 %Expected term5.36 years5.36 years5.36 yearsRisk-free rate of return3.90 %3.89 %1.40 %Annual dividend yield3.14 %2.98 %3.33 %The following table shows a summary of nonqualified stock options at December 31, 2024 and activity for the year then ended:NONQUALIFIED STOCK OPTIONS Common shares under optionsWeighted- average exercise priceWeighted- average remaining contractual term (in years)Aggregate intrinsic value (in millions)Sempra:Outstanding at January 1, 20241,759,798 $65.99 Granted414,812 $75.82 Exercised(23,713)$62.87 Withheld related to net settlement(120,231)$62.87 Outstanding at December 31, 20242,030,666 $68.22 6.78$40 Vested or expected to vest at December 31, 20242,030,666 $68.22 6.78$40 Exercisable at December 31, 20241,251,544 $64.45 5.81$29 The aggregate intrinsic value at December 31, 2024 is the total of the difference between Sempra’s closing common stock price and the exercise price for all in-the-money options. The aggregate intrinsic value for nonqualified stock options exercised was:▪$4.4 million in 2024▪zero in 2023▪$1.7 million in 2022We expect a negligible amount of total compensation cost related to nonvested stock options not yet recognized as of December 31, 2024 to be recognized over a weighted-average period of 0.6 years. The weighted-average exercise price for nonqualified stock options granted in 2023 and 2022 was $76.86 and $66.00, respectively.We received cash of $4 million from stock option exercises in 2022.

2024 Form 10-K  |