NEW JERSEY RESOURCES CORP — Director's Dealing 2023

Oct 4, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2023-09-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-09-30	Common Stock	A	9649	$40.63	Acquired	190020.65	Direct
2023-09-30	Common Stock	F	4753	$40.63	Disposed	185267.65	Direct
2023-09-30	Common Stock	A	10374	$40.63	Acquired	195641.65	Direct
2023-09-30	Common Stock	F	5110	$40.63	Disposed	190635.229	Direct

Footnotes

F1: Represents third and final vesting of Performance-Based Restricted Stock Units (PBRSUs) previously granted on November 9, 2020, 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 10, 2021, plus accrued dividend equivalents. The third and final tranche will vest on September 30, 2024. 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 103.579 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.