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    Jeffrey W. Martin

    Chairman, CEO, and President at Sempra
    Board
    Since May 2018
    Age
    63 years
    Tenure
    Joined SRE in 2004 as Vice President of Investor Relations and advanced through multiple leadership roles—including CEO of Sempra U.S. Gas & Power and SDG&E, Executive VP and CFO, before being named Chairman and CEO in 2018 and President in 2020.

    Also at Sempra

    KLS
    Karen L. Sedgwick
    Executive Vice President and CFO
    PRW
    Peter R. Wall
    Senior Vice President, Controller, and CAO

    About

    Jeffrey W. Martin has built a distinguished career in the energy industry by leveraging his background in finance, law, and corporate strategy. He began his journey at SRE in 2004 as Vice President of Investor Relations, setting the stage for a series of progressive leadership roles.

    Throughout his tenure, he has held critical positions, including CEO of Sempra U.S. Gas & Power and SDG&E, and later as Executive Vice President and CFO. His appointment as Chairman and CEO in 2018, followed by his role as President in 2020, marked significant milestones in his career.

    Under his strategic leadership, the company implemented a new corporate strategy that more than doubled its value and supported approximately $30 billion in transactions since 2017. These initiatives have firmly positioned SRE as a leader in key energy markets and have driven the company’s growth and innovation.

    Beyond his roles within the company, he contributes to the broader energy sector through board memberships and active involvement in industry organizations, reflecting his commitment to advancing energy policy and sustainable practices.

    $SRE Performance Under Jeffrey W. Martin

    Past Roles

    OrganizationRoleDate RangeDetails
    SempraExecutive Vice President and Chief Financial Officer 2017 - N/A Ended upon promotion to Chairman, CEO, and President
    SDG&EChief Executive Officer, Director; later President and Chairman 2014 - 2016 Became CEO in 2014 and assumed President/Chairman role in 2015
    Sempra U.S. Gas & Power / Sempra GenerationChief Executive Officer and President 2010 - 2013 Held leadership across predecessor organizations
    SempraVice President of Investor Relations Before 2004 Role held prior to joining the company
    NewEnergy, Inc.Chief Financial Officer N/A N/A
    Unisource Energy CorporationCorporate Counsel N/A N/A
    Snell & Wilmer, LLPAttorney N/A N/A

    External Roles

    OrganizationRoleDate RangeDetails
    OncorDirector N/ASempra indirectly owns 80.25%
    American Petroleum InstituteBoard of Directors N/AN/A
    University of San DiegoBoard of Trustees N/AN/A
    World Economic ForumGovernor of Oil and Gas community, Co-Chair of Electricity community, and International Business Council representative N/AMultiple leadership roles

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,500,000 AnnualFixed annual salary.
    Company Contributions to 401(k) and Deferred Compensation Plan$231,767 AnnualDirect contribution to retirement and deferred compensation plans.
    Insurance Premiums$64,011 AnnualIncludes $54,278 for life insurance premiums.
    Matching of Charitable Contributions$143,333 AnnualUnder the special double-match program of the Sempra Foundation.
    Other Compensation$395,709 AnnualIncludes $337,439 for company aircraft usage, $40,000 executive benefit allowance, plus security services (car and security personnel).

    Performance Compensation

    Data from  FY 2023

    Performance-Based Annual Cash Bonus

    MetricValueDetails
    Base Salary$1,500,000 Used as the basis for bonus calculations.
    Bonus Target175% of Base Salary (~$2,625,000) Target bonus amount based on base salary.
    ABP EarningsThreshold: $2,561M, Target: $2,784M, Maximum: $3,007M Weighted at 80% of bonus, using GAAP net income with adjustments.
    Safety MeasuresWeight: 12% Metrics include employee and public safety performance.
    SustainabilityWeight: 8% Metrics include clean energy initiatives, community impact, and governance.
    Performance Score176% Actual performance achieved in 2023.
    Bonus Payout$4,631,300 Cash bonus paid based on the performance score.

    PBRSU – TSR vs. S&P 500 Utilities Index

    MetricValueDetails
    Grant DateJanuary 3, 2023 Award granted on this date.
    Threshold6,235 shares Minimum performance level for payout.
    Target24,940 shares Target share award at median performance.
    Maximum49,880 shares Cap achieved at or above the 90th percentile.
    Grant Date Fair Value$2,049,532 Fair value assigned at grant.
    Vesting Schedule3-year performance period Vesting contingent on TSR performance relative to the index.
    AdditionalDividend equivalents provided Additional shares for reinvested dividends.

    PBRSU – TSR vs. S&P 500 Index

    MetricValueDetails
    Grant DateJanuary 3, 2023 Award granted on this date.
    Threshold6,235 shares Minimum level for performance payout.
    Target24,940 shares Target share amount.
    Maximum49,880 shares Cap on shares at maximum performance.
    Grant Date Fair Value$2,369,799 Fair value determined at grant.
    Vesting Schedule3-year performance period Vesting based on TSR relative to the S&P 500 Index.
    Actual Performance34.60% as of Dec 31, 2023 Indicates performance relative to target.

    PBRSU – EPS Growth

    MetricValueDetails
    Grant DateJanuary 3, 2023 Award granted on this date.
    Threshold12,470 shares Minimum share award for EPS growth performance.
    Target49,878 shares Target share award based on EPS growth.
    Maximum99,756 shares Maximum shares if highest performance is achieved.
    Grant Date Fair Value$3,833,374 Fair value based on a Monte Carlo valuation.
    Vesting Schedule3-year performance period Vesting contingent on meeting EPS growth targets.
    AdditionalMeasured relative to analyst estimates No payout if performance criteria are not met.

    Nonqualified Stock Options

    MetricValueDetails
    Grant DateJanuary 3, 2023 Options granted on this date.
    Grant Date Fair Value$3,833,364 Valuation calculated via the Black-Scholes model.
    Exercise Price$76.855 per share Determines intrinsic value based on stock price growth.
    Vesting Schedule3-year ratable vesting Options vest evenly over three years.
    ExpirationJanuary 1, 2033 Options expire after a 10-year period.
    AdditionalValue depends on stock price appreciationNo performance metrics; service based.

    Annual LTIP Award (Target Value)

    MetricValueDetails
    ComponentsPBRSU (TSR vs. Utilities Index, TSR vs. S&P 500 Index, EPS Growth) & Nonqualified Stock OptionsCombined LTIP structure with equity and option components.
    PBRSU – TSR vs. Utilities IndexFair Value: $2,049,532 Part of the LTIP award.
    PBRSU – TSR vs. S&P 500 IndexFair Value: $2,369,799 Part of the LTIP award.
    PBRSU – EPS GrowthFair Value: $3,833,374 Part of the LTIP award.
    Nonqualified Stock OptionsFair Value: $3,833,364 Part of the LTIP award.
    VestingPBRSUs: 3-year performance period; Options: 3-year ratable vesting Overall vesting contingent on performance and service.
    Evaluation Period3 years Performance metrics for TSR and EPS growth evaluated over this period.