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: Shea Timothy F. (Vice President, Subsidiary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-10	Common Stock	A	2037	$38.84	Acquired	25053.368	Direct
2021-11-10	Common Stock	F	1004	$38.84	Disposed	24049.368	Direct
2021-11-10	Common Stock	A	28321	$38.84	Acquired	52377.368	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	28.729	Indirect

Footnotes

F1: Represents number of performance share units, which vested at 93 percent of target (plus 196 dividend equivalents), after a 36-month period beginning on October 1, 2018, 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 grant of deferred retention stock units (DRSUs) under the NJR 2017 Stock Award and Incentive Plan. Each DRSU will vest on October 15, 2024 and each DRSU represents a contingent right to receive one share of NJR Common Stock.

F4: Total reflects adjustment for dividend accrual.

F5: Based on plan shares as of the end of the most recent fiscal quarter.