Patrick J. Migliaccio - Nov 9, 2022 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role
Senior VP and COO, NJNG
Signature
/s/ Tejal K. Mehta, as attorney-in-fact for Patrick J. Migliaccio
Stock symbol
NJR
Transactions as of
Nov 9, 2022
Transactions value $
$472,112
Form type
4
Date filed
11/14/2022, 05:25 PM
Previous filing
Oct 18, 2022
Next filing
Nov 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $158K +3.61K +11.02% $43.92 36.3K Nov 9, 2022 Direct F1
transaction NJR Common Stock Tax liability -$78K -1.78K -4.89% $43.92 34.6K Nov 9, 2022 Direct F2
transaction NJR Common Stock Award $184K +4.18K +12.1% $43.92 38.7K Nov 9, 2022 Direct F3
transaction NJR Common Stock Tax liability -$90.5K -2.06K -5.32% $43.92 36.7K Nov 9, 2022 Direct F2
transaction NJR Common Stock Award $299K +6.49K +17.69% $46.00 43.2K Nov 10, 2022 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents number of performance share units, which vested at 105 percent of target (plus 375 dividend equivalents), after a 36-month period beginning on October 1, 2019, upon certification by the Leadership Development and Compensation Committee (LDCC) of New Jersey Resources Corporation's (NJR) performance versus the applicable performance goal. Performance share units and dividend equivalents convert into one share of NJR Common Stock upon vesting.
F2 Represents shares withheld to pay taxes due upon vesting of performance share units.
F3 Represents number of performance share units, which vested at 112 percent of target (plus 435 dividend equivalents), after a 36-month period beginning on October 1, 2019, upon certification by the LDCC of NJR's performance versus the applicable performance goal. Performance share units and dividend equivalents convert into one share of NJR Common Stock upon vesting.
F4 Represents grant of restricted stock units (RSUs) under the NJR 2017 Stock Award and Incentive Plan. RSUs vest in three equal annual installments on October 15, 2023, October 15, 2024, and October 15, 2025 and each RSU represents a contingent right to receive one share of NJR Common Stock.