Stephen D. Westhoven - Nov 9, 2022 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role
President & CEO, Director
Signature
/s/ Tejal K. Mehta, as attorney-in-fact for Stephen D. Westhoven
Stock symbol
NJR
Transactions as of
Nov 9, 2022
Transactions value $
$743,434
Form type
4
Date filed
11/14/2022, 05:26 PM
Previous filing
Oct 4, 2022
Next filing
May 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $439K +9.99K +5.93% $43.92 178K Nov 9, 2022 Direct F1
transaction NJR Common Stock Tax liability -$216K -4.92K -2.76% $43.92 174K Nov 9, 2022 Direct F2
transaction NJR Common Stock Award $475K +10.8K +6.24% $43.92 184K Nov 9, 2022 Direct F3
transaction NJR Common Stock Tax liability -$234K -5.33K -2.89% $43.92 179K Nov 9, 2022 Direct F2
transaction NJR Common Stock Award $551K +12.5K +7.01% $43.92 192K Nov 9, 2022 Direct F4
transaction NJR Common Stock Tax liability -$271K -6.18K -3.23% $43.92 185K Nov 9, 2022 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the first tranche of performance-based restricted stock units, previously granted on November 10, 2021, plus 334 accrued dividend equivalents. The second and third tranches will vest on September 30, 2023 and September 30, 2024, respectively. The applicable goal has been satisfied by New Jersey Resources Corporation (NJR) and certified by the Leadership Development and Compensation Committee (LDCC). Each performance-based restricted stock unit and dividend equivalent converts 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 105 percent of target (plus 1,125 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 number of performance share units, which vested at 112 percent of target (plus 1,305 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.