NEW JERSEY RESOURCES CORP — Director's Dealing 2023

Nov 18, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2023-11-15

Reporting Person: Cradic Amy (SVP & COO Non-Utility Business)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-11-15	Common Stock	A	6248	$42.55	Acquired	29147	Direct
2023-11-15	Common Stock	A	5342	$42.55	Acquired	34489	Direct
2023-11-15	Common Stock	F	2267	$42.55	Disposed	32222	Direct
2023-11-15	Common Stock	A	5033	$42.55	Acquired	37255	Direct
2023-11-15	Common Stock	F	2135	$42.55	Disposed	35120	Direct

Footnotes

F1: Represents grant of restricted stock units (RSUs) under the New Jersey Resources Corporation (NJR) 2017 Stock Award and Incentive Plan. RSUs vest in three equal annual installments on October 15, 2024, October 15, 2025 and October 15, 2026, and each RSU represents a contingent right to receive one share of NJR Common Stock.

F2: Represents number of performance share units, which vested at 150 percent of target (plus 548 dividend equivalents), after a 36-month period beginning on October 1, 2020, upon certification by the Leadership Development and Compensation Committee (LDCC) of NJR performance versus the applicable performance goal. Performance share units and dividend equivalents convert into one share of NJR Common Stock upon vesting.

F3: Represents shares withheld to pay taxes due upon vesting of performance share units.

F4: Represents number of performance share units, which vested at 150 percent of target (plus 512 dividend equivalents), after a 36-month period beginning on October 1, 2020, 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.