NEW JERSEY RESOURCES CORP — Director's Dealing 2021

Nov 13, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2021-11-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-10	Common Stock	A	8981	$38.84	Acquired	162412.172	Direct
2021-11-10	Common Stock	F	4424	$38.84	Disposed	157988.172	Direct
2021-11-10	Common Stock	A	4286	$38.84	Acquired	162274.172	Direct
2021-11-10	Common Stock	F	2111	$38.84	Disposed	160169.172	Direct

Footnotes

F1: Represents the first tranche of performance-based restricted stock units, previously granted on November 9, 2020, plus 320 accrued dividend equivalents. The second and third tranches will vest on September 30, 2022 and September 30, 2023, respectively. The applicable goal has been satisfied by New Jersey Resources Corporation (NJR) and certified by the Leadership Development and Compensation Committee (LDCC). Each performance-based restricted stock unit and dividend equivalent converts 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 number of performance share units, which vested at 93 percent of target (plus 410 dividend equivalents), after a 36-month period beginning on October 1, 2018, upon certification by the 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.

F4: Total reflects adjustment for dividend accrual.