NEW JERSEY RESOURCES CORP — Director's Dealing 2017

Nov 17, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2017-11-14

Reporting Person: Westhoven Stephen D (Executive VP & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-11-14	Common Stock	M	6952	—	Acquired	119843.352	Direct
2017-11-14	Common Stock	F	3605	$45	Disposed	116238.352	Direct
2017-11-14	Common Stock	M	6411	—	Acquired	122649.352	Direct
2017-11-14	Common Stock	F	3325	$45	Disposed	119324.352	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-11-14	Performance Shares	$	M	6952	Disposed		Common Stock (6952.0)	Direct
2017-11-14	Performance Shares	$	M	6411	Disposed		Common Stock (6411.0)	Direct

Footnotes

F1: Represents number of Performance Shares, which vested at 108.44% of the target amount (plus accrued dividends), after a 36-month period beginning on October 1, 2014, upon certification by the Leadership Development and Compensation Committee (LDCC) of the Board of Directors of New Jersey Resources Corporation (NJR) of NJR's performance versus the applicable performance goal. Performance Shares converted 1 for 1 into shares of NJR common stock. There is no purchase or sale price upon vesting of the Performance Shares.

F2: Represents number of Performance Shares, which vested at 119% of the target amount (plus accrued dividends), after a 36-month period beginning on October 1, 2014, upon certification by the Leadership Development and Compensation Committee (LDCC) of the Board of Directors of New Jersey Resources Corporation (NJR) of NJR's performance versus the applicable performance goal. Performance Shares converted 1 for 1 into shares of NJR common stock. There is no purchase or sale price upon vesting of the Performance Shares.

F3: Total reflects a 2 for 1 stock split on March 3, 2015.