Sagara Kevin C. 4

What Happened

• Kevin C. Sagara, a Sempra (SRE) director, received a grant of 1,498.77 phantom shares on 2026-05-12. The award was recorded at $0.00 (no cash paid); these are derivative phantom shares that track Sempra common stock economically and will be cash-settled.
• This transaction is an award (not an open-market purchase or sale) and thus is neither a direct bullish purchase nor a sale. Some phantom shares are subject to forfeiture under the stated vesting condition.

Key Details

• Transaction date: 2026-05-12; Form filed: 2026-05-13 (timely).
• Grant type: Phantom stock award (derivative), amount 1,498.77 shares, acquisition price $0.00.
• Reported vested holdings (per filing footnotes): 2,867.60 vested phantom shares from director service + 934.75 vested phantom shares from prior deferred-compensation service = 3,802.35 vested shares not subject to forfeiture.
• Combining the new grant with the vested balance implies a total reported phantom position of 5,301.12 shares (3,802.35 vested + 1,498.77 newly granted). This total includes dividend equivalents accrued since the last phantom-share report.
• Vesting/forfeiture: The 1,498.77 granted shares are subject to forfeiture if Mr. Sagara’s service as a director ends for any reason other than death, disability, or removal without cause prior to Sempra’s 2027 Annual Meeting of Shareholders. Vested phantom shares plus reinvested dividend equivalents are payable in cash following separation of service.
• Filing timeliness: Reported promptly (transaction 5/12/2026; filing 5/13/2026).

Context

• Phantom shares are a deferred-compensation instrument: they mirror the economic performance of common stock but are settled in cash (not actual shares) upon separation per the plan terms. They do not represent immediate share ownership that can be sold on the market.
• Such awards are common for directors as part of compensation and do not by themselves signal a buy or sell decision by the insider.