NEW JERSEY RESOURCES CORP — Director's Dealing 2022

Nov 15, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2022-11-09

Reporting Person: Migliaccio Patrick J. (Senior VP and COO, NJNG)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-11-09	Common Stock	A	3607	$43.92	Acquired	36334.13	Direct
2022-11-09	Common Stock	F	1777	$43.92	Disposed	34557.13	Direct
2022-11-09	Common Stock	A	4183	$43.92	Acquired	38740.13	Direct
2022-11-09	Common Stock	F	2061	$43.92	Disposed	36679.13	Direct
2022-11-10	Common Stock	A	6490	$46	Acquired	43169.13	Direct

Footnotes

F1: Represents number of performance share units, which vested at 105 percent of target (plus 375 dividend equivalents), after a 36-month period beginning on October 1, 2019, upon certification by the Leadership Development and Compensation Committee (LDCC) of New Jersey Resources Corporation's (NJR) 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 number of performance share units, which vested at 112 percent of target (plus 435 dividend equivalents), after a 36-month period beginning on October 1, 2019, 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: Represents grant of restricted stock units (RSUs) under the NJR 2017 Stock Award and Incentive Plan. RSUs vest in three equal annual installments on October 15, 2023, October 15, 2024, and October 15, 2025 and each RSU represents a contingent right to receive one share of NJR Common Stock.