Stephen D. Westhoven - 30 Sep 2021 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role
President & CEO, Director
Signature
/s/ Richard Reich, as attorney-in-fact for Stephen D. Westhoven
Issuer symbol
NJR
Transactions as of
30 Sep 2021
Net transactions value
+$172,101
Form type
4
Filing time
04 Oct 2021, 14:49:26 UTC
Next filing
19 Oct 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $108,189 +3,108 +2.1% $34.81 154,285 30 Sep 2021 Direct F1
transaction NJR Common Stock Tax liability $53,294 -1,531 -0.99% $34.81 152,754 30 Sep 2021 Direct F2
transaction NJR Common Stock Award $230,964 +6,635 +4.3% $34.81 159,389 30 Sep 2021 Direct F3
transaction NJR Common Stock Tax liability $113,759 -3,268 -2.1% $34.81 156,134 30 Sep 2021 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents third and final vesting of Performance-Based Restricted Stock Units (PBRSUs) previously granted on November 13, 2018, 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 12, 2019, plus accrued dividend equivalents. The third and final tranche will vest on September 30, 2022. 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 13 shares for accrued dividend equivalents payable on previously vested PBRSUs. Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.