April Robinson

About April Robinson

April R. Robinson is Sempra’s Corporate Secretary and Vice President, Governance, responsible for corporate governance oversight, board liaison duties, investor governance outreach, and execution of shareholder meeting processes; she appears as Corporate Secretary in Sempra’s 2023–2025 proxy statements and in multiple SEC exhibits . She holds a B.B.A. from the University of Kentucky and a J.D. from Emory University School of Law . Company-wide incentive frameworks she helps administer emphasize earnings, safety, and sustainability in annual bonuses and multi-year relative TSR and EPS-growth in LTIP awards .

Past Roles

External Roles

No public company directorships or committee roles are disclosed for Robinson in Sempra’s proxies (she is an executive officer, not a director) .

Performance Compensation

Company-wide incentive designs and outcomes relevant to executive pay-for-performance:

Notes: ABP metrics and LTIP designs apply to participating executive officers; individual target bonus percentages for Robinson are not disclosed (she is not a named executive officer in the proxy) .

Fixed Compensation

• Base salary and target bonus percentage for April Robinson are not disclosed in the Summary Compensation Table (she is not listed among named executive officers) .

Equity Ownership & Alignment

• Stock ownership guidelines for officers: CEO 8x salary; EVPs 4x; Subsidiary CEOs/Presidents/COOs 3x; CAO/CHRO/U.S.-based SVPs 2x; Vice Presidents and non-U.S.-based Officers 1x salary. As Vice President, Governance and Corporate Secretary, Robinson’s guideline category is 1x base salary .
• Anti‑hedging and pledging: Officers and directors are prohibited from hedging or pledging Sempra or subsidiary securities; short sales are prohibited .
• Beneficial ownership: Individual shareholdings for Robinson are not presented; proxy share‑ownership tables show directors and named executive officers only .

Employment Terms

• Employment agreement: No individual employment or severance agreement specific to April Robinson is disclosed in proxies or 8‑Ks.
• Executive severance framework (illustrative, based on disclosed CFO/CAO agreements):
  • Involuntary termination (unrelated to change in control): lump‑sum cash equal to 1x base salary plus the greater of average annual bonus or target bonus; continuation of health insurance up to 12 months; outplacement up to 24 months ($50k cap); financial planning up to 24 months ($25k annual cap); subject to release and covenants .
  • Change‑in‑control (double trigger within two years): 2x cash severance (base + target bonus; greater of termination date or pre‑CoC levels); enhanced benefits; pro rata bonus; continued health benefits; subject to release and covenants .
  • Best‑pay limitation; no excise tax gross‑ups in the severance templates disclosed (CFO/CAO) .
  • Consulting option: Additional lump‑sum (base + greater of average/target bonus) and extended health coverage if the executive provides consulting services post‑termination and complies with restrictive covenants (CFO/CAO templates) .
• Insider trading policy and disclosure procedures are maintained under the Insider Trading and Information Confidentiality Policy, filed as an exhibit to the 2024 10‑K; Corporate Secretary oversees governance communications and shareholder proposal processes .

Compensation Structure Analysis

• Year‑over‑year incentive rigor increased: ABP earnings target rose to $3,051MM in 2024 (+10% vs 2023 target), with a broadened target‑to‑max range ($244MM in 2024 vs $223MM in 2023), indicating higher stretch and performance sensitivity .
• Mix favors performance: Long‑term incentives rely on multi‑year relative TSR and EPS growth PSUs, with zero payouts below the 25th percentile and 200% caps, plus options viewed as performance‑contingent; this design reduces windfall risk and promotes durable value creation .
• Risk controls: Clawback policy (SEC/NYSE compliant) and strict anti‑hedging/pledging constraints reduce misalignment and speculative behavior .
• No gross‑ups; best‑pay limit: Disclosed executive severance templates exclude 280G tax gross‑ups and include best‑pay limitations—shareholder‑friendly constructs that mitigate change‑in‑control windfall optics .

Investment Implications

• Alignment and retention: Governance mandates, ownership guidelines (1x salary for VP‑level), clawbacks, and anti‑hedging/pledging support alignment; absence of disclosed individual severance for Robinson limits precision on her personal retention economics, but company templates indicate market‑standard double‑trigger and no gross‑ups .
• Incentive levers: Company‑wide ABP and LTIP metrics—earnings, safety, sustainability, TSR, and EPS growth—drove above‑target payouts (ABP 142.93% in 2024; LTIP 2022–2024 at 190%), signaling strong execution across platforms; these levers inform overall executive motivation and potential bonus pressure even if Robinson’s exact targets aren’t disclosed .
• Trading signals: No Form 4 transactions specific to Robinson found in public materials; Sempra’s anti‑hedging/pledging policy reduces near‑term selling/pledging pressure risk for officers .
• Governance execution: Robinson’s Corporate Secretary role—authorship and attestation of proxies and corporate instruments—suggests strong governance infrastructure and disciplined investor engagement processes, a positive indicator for risk management and disclosure quality .