M. Susan Hardwick - Jan 20, 2022 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role: Director
Signature: /s/ Richard Reich, as attorney-in-fact for M. Susan Hardwick
Stock symbol: NJR
Transactions as of: Jan 20, 2022
Transactions value $: $4,314
Form type: 4
Date filed: 1/24/2022, 05:08 PM
Next filing: Jan 28, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NJR	Common Stock	Options Exercise	$123K	+3.19K		$38.69	3.19K	Jan 20, 2022	Direct	F1
holding	NJR	Common Stock						0	Jan 20, 2022	Direct

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	Restricted Stock Units	Options Exercise	-$119K	-3.08K	-100%	$38.69	0	Jan 20, 2022	Common Stock	3.08K		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Total shares include 111.052 dividend equivalents accrued on Restricted Stock Units ("RSUs") plus .441 shares for rounding shares to the next whole share.
F2	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of New Jersey Resources ("NJR's") common stock plus dividend equivalents.
F3	Represents 100 percent vesting of RSUs granted on January 20, 2021. RSUs converted one for one into shares of NJR common stock. There is no purchase or sale price upon vesting of RSUs.