The board of directors greenlit the plan after a special meeting on August 6, 2026, where shareholders approved the necessary amendments to the company’s Restated Articles of Incorporation. SoCalGas intends to file these changes with the California Secretary of State on August 17, 2026, which serves as the official retirement date for the securities.

Investors holding the stock will receive a cash payment consisting of $31.00 per share plus all accrued and unpaid dividends. To manage the transition, the company will remove both the Preferred Stock (SOCGM) and Series A Preferred Stock (SOCGP) from quotation on the OTCQB market after the close of business on August 13, 2026. Once the retirement is complete, these shares will no longer be outstanding, and existing certificates will represent only the right to claim the final cash distribution.