NEW JERSEY RESOURCES CORP — Director's Dealing 2020

Nov 12, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2020-11-09

Reporting Person: Washington Nancy A. (SVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-09	Common Stock	A	5061	$33.34	Acquired	17368.942	Direct
2020-11-09	Common Stock	A	1853	$33.34	Acquired	19221.942	Direct
2020-11-09	Common Stock	F	913	$33.34	Disposed	18330.999	Direct

Footnotes

F1: Represents grant of restricted stock units (RSUs) under the New Jersey Resources Corporation (NJR) 2017 Stock Award and Incentive Plan. RSUs vest in three equal annual installments on October 15, 2021, October 15, 2022, and October 15, 2023 and each RSU represents a contingent right to receive one share of NJR Common Stock.

F2: Represents number of performance share units, which vested at 114% of target (plus 159 dividend equivalents), after a 36-month period beginning on October 1, 2017, upon certification by the Leadership Development and Compensation Committee (LDCC) of NJR's performance versus the applicable performance goal. Performance share units and dividend equivalents convert into one share of NJR Common Stock upon vesting.

F3: Represents shares withheld to pay taxes due upon vesting of performance share units.

F4: Total includes 22.057 shares for accrued dividends on shares held by broker.