YARDLEY JAMES C 4

What Happened

• James C. Yardley, a director of Sempra (SRE), was granted 128.32 phantom shares (derivative security) on 2026-04-01 as director compensation. The grant is reported at an implied price of $97.41 per share for a total value of $12,500.
• The award is a derivative/phantom share grant (not an open-market purchase). Per the filing, conversion of the derivative security is 1-for-1 to common stock; vested shares are exercisable immediately.

Key Details

• Transaction date: 2026-04-01; filing date: 2026-04-02 (filed timely).
• Grant: 128.32 phantom shares at $97.41 per share; total reported value $12,500.
• Security type: Derivative/phantom restricted shares (conversion 1:1 to common stock).
• Vested/exercisable: Vested shares are exercisable immediately (per footnote).
• Unvested holdings: Filing notes a total that includes 1,906.10 unvested restricted phantom shares subject to forfeiture if director service ends before vesting (except for death, disability, or removal without cause).
• Expiration: Not applicable.
• Shares owned after transaction: Not specified in the Form 4 excerpt provided.
• Transaction code: A = Award/Grant (derivative). Not a sale or market purchase.

Context

• Phantom/restricted share awards are common director compensation and represent a right to receive stock value or shares upon conversion/vesting; they do not necessarily indicate the director is buying additional stock on the open market.
• Because this was an award (not a purchase/sale), it should be viewed primarily as compensation disclosure rather than a direct insider bullish/bearish trading signal.