Stephen D. Westhoven - Nov 15, 2023 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 15, 2023
Transactions value $
$1,194,379
Form type
4
Date filed
11/17/2023, 09:17 PM
Previous filing
Oct 3, 2023
Next filing
May 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $451K +10.6K +5.55% $42.55 201K Nov 15, 2023 Direct F1
transaction NJR Common Stock Tax liability -$222K -5.22K -2.59% $42.55 196K Nov 15, 2023 Direct F2
transaction NJR Common Stock Award $924K +21.7K +11.07% $42.55 218K Nov 15, 2023 Direct F3
transaction NJR Common Stock Tax liability -$455K -10.7K -4.91% $42.55 207K Nov 15, 2023 Direct F2
transaction NJR Common Stock Award $979K +23K +11.12% $42.55 230K Nov 15, 2023 Direct F4
transaction NJR Common Stock Tax liability -$482K -11.3K -4.93% $42.55 219K Nov 15, 2023 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, 2022, plus 389 accrued dividend equivalents. The second and third tranches will vest on September 30, 2024 and September 30, 2025, 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 150 percent of target (plus 2,220 dividend equivalents), after a 36-month period beginning on October 1, 2020, 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 150 percent of target (plus 2,357 dividend equivalents), after a 36-month period beginning on October 1, 2020, 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.