Stephen D. Westhoven - 06 Nov 2024 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
Issuer symbol: NJR
Transactions as of: 06 Nov 2024
Net transactions value: +$1,366,658
Form type: 4
Filing time: 08 Nov 2024, 17:25:50 UTC
Previous filing: 02 Oct 2024
Next filing: 02 Oct 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NJR	Common Stock	Award	$611,394	+13,025	+7.2%	$46.94	192,786	06 Nov 2024	Direct	F1
transaction	NJR	Common Stock	Tax liability	$301,120	-6,415	-3.3%	$46.94	186,371	06 Nov 2024	Direct	F2
transaction	NJR	Common Stock	Award	$937,814	+19,979	+11%	$46.94	206,350	06 Nov 2024	Direct	F3
transaction	NJR	Common Stock	Tax liability	$461,890	-9,840	-4.8%	$46.94	196,510	06 Nov 2024	Direct	F2
transaction	NJR	Common Stock	Award	$1,143,834	+24,368	+12%	$46.94	220,878	06 Nov 2024	Direct	F4
transaction	NJR	Common Stock	Tax liability	$563,374	-12,002	-5.4%	$46.94	209,004	06 Nov 2024	Direct	F2, F5

* 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 15, 2023, plus 491 accrued dividend equivalents. The second and third tranches will vest on September 30, 2025 and September 30, 2026, 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 124 percent of target (plus 2,021 dividend equivalents), after a 36-month period beginning on October 1, 2021, 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 2,465 dividend equivalents), after a 36-month period beginning on October 1, 2021, 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.
F5	Total reflects adjustment of 128.112 shares accrued through dividends under the NJR Employee Retirement Savings 401(k) and Employee Stock Ownership Plans.