NEW JERSEY RESOURCES CORP — Director's Dealing 2023

Jan 27, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2023-01-25

Reporting Person: O'Sullivan Michael A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-25	Common Stock	M	464	—	Acquired	464	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-25	Restricted Stock Units	$	A	2521.178	Acquired		Common Stock (2521.178)	Direct
2023-01-25	Restricted Stock Units	$	M	459.575	Disposed		Common Stock (459.575)	Direct

Footnotes

F1: Total shares include 3.644 dividend equivalents accrued on Restricted Stock Units ("RSUs") plus .782 shares for rounding to the next whole share.

F2: Represents the annual RSU retainer pursuant to the Non-Employee Director Compensation Plan, as amended. Each RSU represents a contingent right to receive one share of New Jersey Resources Corporation ("NJR") common stock plus dividend equivalents.

F3: The RSU award will vest in full on the earlier of (i) the first anniversary of the date of grant, or (ii) the date of the next NJR Annual Meeting of Shareowners.

F4: Represents 100 percent vesting of RSUs granted to Mr. O'Sullivan when he joined the Board of Directors on October 27, 2022, pursuant to the Non-Employee Director Compensation Plan, as amended. RSUs converted one for one into shares of NJR common stock.