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: Shea Jacqueline K (SVP, Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-11-15	Common Stock	A	3966	$42.55	Acquired	27595.717	Direct
2023-11-15	Common Stock	A	2348	$42.55	Acquired	29943.717	Direct
2023-11-15	Common Stock	F	1159	$42.55	Disposed	28784.717	Direct
2023-11-15	Common Stock	A	2490	$42.55	Acquired	31274.717	Direct
2023-11-15	Common Stock	F	1228	$42.55	Disposed	30046.717	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-11-15	Phantom Stock	$	A	622	Acquired		Common Stock (622)	Direct
2023-11-15	Phantom Stock	$	F	15	Disposed		Common Stock (15)	Direct
2023-11-15	Phantom Stock	$	A	587	Acquired		Common Stock (587)	Direct
2023-11-15	Phantom Stock	$	F	14	Disposed		Common Stock (14)	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 241 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 256 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.

F5: The phantom stock units represent performance share unit awards that have vested and have been deferred pursuant to NJR's Officer Deferred Compensation Plan and are to be paid out in five annual installments beginning in January 2025. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.