NEW JERSEY RESOURCES CORP — Director's Dealing 2020

Oct 2, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2020-09-30

Reporting Person: Westhoven Stephen D (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-09-30	Common Stock	M	2404	$27.02	Acquired	145357.208	Direct
2020-09-30	Common Stock	F	1184	$27.02	Disposed	144173.208	Direct
2020-09-30	Common Stock	A	2930	$27.02	Acquired	147103.208	Direct
2020-09-30	Common Stock	F	1444	$27.02	Disposed	145833.955	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-09-30	Performance Shares	$	M	2204	Disposed		Common Stock (2204.0)	Direct

Footnotes

F1: Total reflects adjustment for accrued dividend equivalents payable upon vesting of Performance-Based Restricted Stock Units. Each Performance-Based Restricted Stock Unit and dividend equivalent converts into one share of New Jersey Resources Corporation (NJR) Common Stock upon vesting.

F2: Represents shares withheld to pay taxes due upon vesting of Performance-Based Restricted Stock Units.

F3: Represents vesting of the second tranche of Performance-Based Restricted Stock Units, previously granted on November 13, 2018, plus accrued dividend equivalents. The third and final tranche will vest on September 30, 2021. The applicable performance goal has been satisfied by NJR and certified by the Leadership Development and Compensation Committee of the Board of Directors (LDCC). Each Performance-Based Restricted Stock Unit and dividend equivalent converts into one share of NJR Common Stock upon vesting.

F4: Total increased by 174.748 shares to reflect dividends accrued in the NJR Employee Retirement Savings Plan 401(K) and in the NJR Employee Stock Ownership (ESOP) Plan.

F5: Represents third and final vesting of Performance-Based Restricted Stock Units, previously granted on November 14, 2017. The applicable performance goal has been satisfied by NJR and certified by the LDCC. Each Performance-Based Restricted Stock Unit converts into one share of NJR Common Stock upon vesting.