Stephen D. Westhoven - Nov 6, 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
Stock symbol
NJR
Transactions as of
Nov 6, 2024
Transactions value $
$1,366,658
Form type
4
Date filed
11/8/2024, 05:25 PM
Previous filing
Oct 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $611K +13K +7.25% $46.94 193K Nov 6, 2024 Direct F1
transaction NJR Common Stock Tax liability -$301K -6.42K -3.33% $46.94 186K Nov 6, 2024 Direct F2
transaction NJR Common Stock Award $938K +20K +10.72% $46.94 206K Nov 6, 2024 Direct F3
transaction NJR Common Stock Tax liability -$462K -9.84K -4.77% $46.94 197K Nov 6, 2024 Direct F2
transaction NJR Common Stock Award $1.14M +24.4K +12.4% $46.94 221K Nov 6, 2024 Direct F4
transaction NJR Common Stock Tax liability -$563K -12K -5.43% $46.94 209K Nov 6, 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.