NEW JERSEY RESOURCES CORP — Director's Dealing 2022

Oct 4, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2022-09-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-09-30	Common Stock	A	6864	$38.70	Acquired	167033.172	Direct
2022-09-30	Common Stock	F	3381	$38.70	Disposed	163652.172	Direct
2022-09-30	Common Stock	A	9289	$38.70	Acquired	172941.172	Direct
2022-09-30	Common Stock	F	4575	$38.70	Disposed	168444.65	Direct

Footnotes

F1: Represents third and final vesting of Performance-Based Restricted Stock Units (PBRSUs) previously granted on November 12, 2019, plus accrued dividend equivalents. The applicable performance goal has been satisfied by New Jersey Resources Corporation (NJR) and certified by the Leadership Development and Compensation Committee of the Board of Directors (LDCC). Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.

F2: Represents shares withheld to pay taxes due upon vesting of PBRSUs.

F3: Represents vesting of the second tranche of PBRSUs, previously granted on November 9, 2020, plus accrued dividend equivalents. The third and final tranche will vest on September 30, 2023. The applicable performance goal has been satisfied by NJR and certified by the LDCC. Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.

F4: Total reflects adjustment of 3 shares for accrued dividend equivalents payable on previously vested PBRSUs and 75.478 shares accrued through dividends under the NJR Employee Retirement Savings 401(k) and Employee Stock Ownership Plans. Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.