NEW JERSEY RESOURCES CORP — Director's Dealing 2025

Oct 17, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEW JERSEY RESOURCES CORP (NJR)
CIK: 0000356309
Period of Report: 2025-10-15

Reporting Person: Migliaccio Patrick J. (Senior VP and COO, NJNG)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-10-15	Common Stock	F	1195	$42.66	Disposed	34757.642	Direct
2025-10-15	Common Stock	F	1275	$42.66	Disposed	33674.642	Direct
2025-10-15	Common Stock	F	981	$42.66	Disposed	32904.448	Direct

Footnotes

F1: Represents shares withheld to pay taxes due upon vesting of the third and final tranche of the Restricted Stock Unit (RSU) award previously granted on November 10, 2022.

F2: Total adjusted for 263 accrued dividend equivalents payable upon vesting of RSUs. Each RSU and dividend equivalent converts into one share of New Jersey Resources Corporation (NJR) Common Stock upon vesting.

F3: Represents shares withheld to pay taxes due upon vesting of the second tranche of the RSU award previously granted on November 15, 2023. The final tranche will vest on October 15, 2026.

F4: Total adjusted for 192 accrued dividend equivalents payable upon vesting of RSUs. Each RSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.

F5: Represents shares withheld to pay taxes due upon vesting of the first tranche of the RSU award previously granted on November 6, 2024. The second and third tranches will vest on October 15, 2026 and October 15, 2027, respectively.

F6: Total adjusted for 76 accrued dividend equivalents payable upon vesting of RSUs, and includes 134.806 shares reflecting the market-based change in the reporting person's balance in the New Jersey Resources Corporation Employees' Retirement Savings Plan, which is a plan qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. Each RSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.