Mark F. Valori - Nov 10, 2021 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role: Vice President, Subsidiary
Signature: /s/ Richard Reich, as attorney-in-fact for Mark F. Valori
Stock symbol: NJR
Transactions as of: Nov 10, 2021
Transactions value $: $119,083
Form type: 4
Date filed: 11/12/2021, 07:38 PM
Previous filing: Oct 19, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NJR	Common Stock	Award	$94.1K	+2.42K	+19.76%	$38.84	14.7K	Nov 10, 2021	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NJR	Phantom Stock	Award	$25K	+644		$38.84	644	Nov 10, 2021	Common Stock	644		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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, 2022, October 15, 2023, and October 15, 2024 and each RSU represents a contingent right to receive one share of NJR Common Stock.
F2	Total reflects adjustment for dividend accrual.
F3	The phantom stock represents performance share unit awards that have vested and have been deferred pursuant to NJR's Officer Deferred Compensation Plan and are to be paid out in a lump sum upon the officer's retirement. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.