Patrick J. Migliaccio - Nov 6, 2024 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 6, 2024
Transactions value $
$732,123
Form type
4
Date filed
11/8/2024, 05:25 PM
Previous filing
Oct 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $270K +5.74K +17.27% $46.94 39K Nov 6, 2024 Direct F1
transaction NJR Common Stock Award $272K +5.8K +14.88% $46.94 44.8K Nov 6, 2024 Direct F2
transaction NJR Common Stock Tax liability -$134K -2.86K -6.37% $46.94 42K Nov 6, 2024 Direct F3, F4

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 $332K +7.08K +101.99% $46.94 14K Nov 6, 2024 Common Stock 7.08K Direct F5
transaction NJR Phantom Stock Tax liability -$7.84K -167 -1.17% $46.94 14.1K Nov 6, 2024 Common Stock 167 Direct F3, F5, F6
* 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, 2025, October 15, 2026 and October 15, 2027. Each RSU represents a contingent right to receive one share of NJR Common Stock.
F2 Represents number of performance share units, which vested at 124 percent of target (plus 589 dividend equivalents), after a 36-month period beginning on October 1, 2021, upon certification by the Leadership Development and Compensation Committee of NJR performance versus the applicable performance goal. Performance share units and dividend equivalents convert into one share of NJR Common Stock upon vesting.
F3 Represents shares withheld to pay taxes due upon vesting of performance share units.
F4 Total reflects adjustment of 66.747 shares accrued through dividends under the NJR Employee Retirement Savings 401(k) Plan.
F5 The phantom stock units represent a performance share unit award that has vested and has been deferred pursuant to NJR's Officer Deferred Compensation Plan and is to be paid out in a lump sum upon the reporting person's retirement. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.
F6 Total reflects a positive adjustment of 272.196 shares representing investment gains or losses and for dividends accrued under NJR's Officer Deferred Compensation Plan.