SOUTHERN CALIFORNIA GAS CO 8-K

What Happened
Southern California Gas Company (SoCalGas) announced leadership changes in an 8-K filed July 9, 2026. On July 6, 2026 the SoCalGas Board appointed Karen L. Sedgwick (age 60) as Chief Executive Officer and President, effective on a date to be set by the Board and expected in Q3 2026. Also on July 6, 2026 the Board appointed Ross W. Turrini (age 63) as Chief Operating Officer, effective August 10, 2026. On July 8, 2026 the Board appointed Elvia Lima Ortiz (age 44) as Vice President, Chief Accounting Officer, Controller and Assistant Treasurer, effective July 10, 2026. Sara P. Mijares resigned as Chief Accounting Officer effective July 9, 2026 and will provide advisory support through July 24, 2026.

Key Details

• Karen L. Sedgwick: base salary $830,000; EICP cash bonus target 90% of base; continuation of her 2026 long-term equity award and existing severance agreement; $200,000 relocation incentive payment for each of her first two years in the role.
• Ross W. Turrini: base salary $500,000; EICP bonus target 60% of base; one-time service-based RSU award valued at $500,000 (vesting 20%/40%/40% over 3 years); cash retention payments of $200,000 (1‑yr), $100,000 (3‑yr), plus possible $500,000 annual payments tied to board-approved performance (and 3‑yr service); $200,000 transition support and relocation benefits; new severance agreement at SVP-level.
• Elvia Lima Ortiz: base salary $255,000; EICP bonus target 45% of base; future long-term equity target recommended at 80% of base; new severance agreement at VP-level.
• Separation terms: Ms. Mijares will receive severance benefits per her existing agreement and an additional $315,000 cash payment to address forfeited equity awards. Rodger R. Schwecke will transition to Executive Advisor until his retirement on October 1, 2026 after Sedgwick and the new COO take their roles.

Why It Matters
These appointments affect SoCalGas’ senior leadership and signal continuity in executive oversight of operations and finance. The filing details concrete compensation and retention commitments — including cash, equity and severance — that represent costs and future obligations for the company. For investors, the changes are material to governance and operational leadership; the documented pay packages clarify near-term cash and equity grants tied to these transitions. The 8-K also contains standard forward-looking disclaimers.