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: Westhoven Stephen D (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-09	Common Stock	A	4127	$33.34	Acquired	149960.955	Direct
2020-11-09	Common Stock	F	2033	$33.34	Disposed	147927.955	Direct
2020-11-09	Common Stock	A	6403	$33.34	Acquired	154330.955	Direct
2020-11-09	Common Stock	F	3154	$33.34	Disposed	151176.955	Direct

Footnotes

F1: Represents number of performance share units, which vested at 114% of target (plus 358 dividend equivalents), after a 36-month period beginning on October 1, 2017, upon certification by the Leadership Development and Compensation Committee (LDCC) of New Jersey Resources Corporation's (NJR's) performance versus the applicable performance goal. Performance share units and dividend equivalents convert into one share of NJR Common Stock upon vesting.

F2: Represents shares withheld to pay taxes due upon vesting of performance share units.

F3: Represents the first tranche of performance-based restricted stock units, previously granted on November 12, 2019, plus 247 accrued dividend equivalents. The second and third tranches will vest on September 30, 2021 and September 30, 2022, respectively. The applicable goal has been satisfied by NJR and certified by the LDCC. Each performance-based restricted stock unit and dividend equivalent converts into one share of NJR Common Stock upon vesting.

F4: Represents shares withheld to pay taxes due upon vesting of performance-based restricted stock units.