NEW JERSEY RESOURCES CORP — Director's Dealing 2018

Nov 16, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2018-11-13

Reporting Person: LOCKWOOD GLENN C (Executive V.P.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-13	Common Stock	M	2178	—	Acquired	202275.743	Direct
2018-11-13	Common Stock	F	1151	$47.98	Disposed	201124.743	Direct
2018-11-13	Common Stock	M	1829	—	Acquired	203522.743	Direct
2018-11-13	Common Stock	F	1182	$47.98	Disposed	202340.743	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-11-13	Performance Shares	$	M	2178	Disposed		Common Stock (2178.0)	Direct
2018-11-13	Performance Shares	$	M	1829	Disposed		Common Stock (1829.0)	Direct

Footnotes

F1: Total has been adjusted downward by 22 shares to reflect Performance Shares vesting at 99% of target plus 180 shares for dividend accrued equivalents upon vesting of the award. Each dividend equivalent converts into 1 share of New Jersey Resources Corporation (NJR) Common Stock upon vesting.

F2: Represents shares withheld to pay taxes due upon vesting of Performance Share awards.

F3: Total has been adjusted upward by 384 shares to reflect Performance Shares vesting at 121% of target plus 185 shares for accrued dividend equivalents upon vesting of the award. Each dividend equivalent converts into 1 share of NJR Common Stock upon vesting.

F4: Represents number of Performance Shares, which vested at 99% of the target (plus accrued dividends) after a 36-month period beginning on October 1, 2015, upon certification by the Leadership Development and Compensation Committee of NJR's performance versus the applicable performance goals. 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.

F5: Represents number of Performance Shares, which vested at 121% of the target (plus accrued dividends) after a 36-month period beginning on October 1, 2015, upon certification by the Leadership Development and Compensation Committee of NJR's performance versus the applicable performance goals. 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.