Michael A. O'Sullivan - 21 Jan 2025 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role: Director
Signature: /s/ Tejal K. Mehta, as attorney-in-fact for Michael A. O'Sullivan
Issuer symbol: NJR
Transactions as of: 21 Jan 2025
Net transactions value: +$154,935
Form type: 4
Filing time: 23 Jan 2025, 15:13:34 UTC
Previous filing: 26 Jan 2024
Next filing: 23 Jan 2026
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NJR	Common Stock	Options Exercise	$154,935	+3,242	+105%	$47.79	6,319	21 Jan 2025	Direct	F1

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	Restricted Stock Units	Award	$0	+2,825		$0.000000	0	21 Jan 2025	Common Stock	2,825		Direct	F2, F3
transaction	NJR	Restricted Stock Units	Options Exercise	$0	-3,118	-100%	$0.000000	0	21 Jan 2025	Common Stock	3,118		Direct	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Total includes 123.460 dividend equivalents accrued on Restricted Stock Units ("RSUs") plus 0.286 shares for rounding to the next whole share.
F2	Represents the annual RSU retainer pursuant to the Non-Employee Director Compensation Plan, as amended. Each RSU represents a contingent right to receive one share of New Jersey Resources Corporation ("NJR") common stock plus dividend equivalents.
F3	The RSU award will vest in full on the earlier of (i) the first anniversary of the date of grant, or (ii) the date of the next NJR Annual Meeting of Shareowners.
F4	Each RSU represents a contingent right to receive one share of NJR common stock plus dividend equivalents.
F5	Represents 100 percent vesting of RSUs granted on January 24, 2024, pursuant to the Non-Employee Director Compensation Plan, as amended. RSUs converted one for one into shares of NJR common stock.