NEW JERSEY RESOURCES CORP — Director's Dealing 2021

Jan 7, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2021-01-05

Reporting Person: Shea Jacqueline K (VP, Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-01-05	Common Stock	M	935	—	Acquired	15386.401	Direct
2021-01-05	Common Stock	F	439	$33.67	Disposed	14947.401	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-01-05	Phantom Stock	$	M	892	Disposed		Common Stock (892.0)	Direct

Footnotes

F1: Represents the first distribution of phantom stock units representing performance share units that vested in November 2019 and were deferred pursuant to the New Jersey Resources ("NJR") Officers' Deferred Compensation Plan. The remaining shares will be distributed in equal installments in January 2022, 2023, 2024 and 2025. Total has been adjusted to reflect 43 accrued dividend equivalents. Each share of phantom stock and dividend equivalent is the economic equivalent of one share of NJR Common Stock.

F2: Represents shares withheld to pay taxes due upon distribution of performance share units pursuant to the NJR Officers' Deferred Compensation Plan.

F3: Represents the first distribution of phantom stock units representing performance share units that vested in November 2019 and were deferred pursuant to the NJR Officers' Deferred Compensation Plan. The remaining shares will be distributed in equal installments in January 2022, 2023, 2024 and 2025. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.