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NEW JERSEY RESOURCES CORP — Director's Dealing 2024
Nov 8, 2024
31045_dirs_2024-11-08_080c3b5f-6a29-4551-97f7-5e12433c89d6.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2024-11-06
Reporting Person: Migliaccio Patrick J. (Senior VP and COO, NJNG)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-11-06 | Common Stock | A | 5742 | $46.94 | Acquired | 38999.244 | Direct |
| 2024-11-06 | Common Stock | A | 5804 | $46.94 | Acquired | 44803.244 | Direct |
| 2024-11-06 | Common Stock | F | 2859 | $46.94 | Disposed | 42010.991 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-11-06 | Phantom Stock | $ | A | 7077 | Acquired | Common Stock (7077) | Direct | |
| 2024-11-06 | Phantom Stock | $ | F | 167 | Disposed | Common Stock (167) | 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, 2025, October 15, 2026 and October 15, 2027. Each RSU represents a contingent right to receive one share of NJR Common Stock.
F2: Represents number of performance share units, which vested at 124 percent of target (plus 589 dividend equivalents), after a 36-month period beginning on October 1, 2021, upon certification by the Leadership Development and Compensation Committee 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: Total reflects adjustment of 66.747 shares accrued through dividends under the NJR Employee Retirement Savings 401(k) Plan.
F5: The phantom stock units represent a performance share unit award that has vested and has been deferred pursuant to NJR's Officer Deferred Compensation Plan and is to be paid out in a lump sum upon the reporting person's retirement. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.
F6: Total reflects a positive adjustment of 272.196 shares representing investment gains or losses and for dividends accrued under NJR's Officer Deferred Compensation Plan.