Stephen D. Westhoven - Nov 4, 2025 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 4, 2025
Transactions value $
$1,165,113
Form type
4
Date filed
11/6/2025, 03:52 PM
Previous filing
Oct 2, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Westhoven Stephen D President & CEO, Director C/O NEW JERSEY RESOURCES CORPORATION, 1415 WYCKOFF ROAD, WALL /s/ Tejal K. Mehta, as attorney-in-fact for Stephen D. Westhoven 2025-11-05 0001492218

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $574K +12.8K +5.77% $44.85 235K Nov 4, 2025 Direct F1
transaction NJR Common Stock Tax liability -$283K -6.31K -2.69% $44.85 228K Nov 4, 2025 Direct F2
transaction NJR Common Stock Award $694K +15.5K +6.78% $44.85 244K Nov 4, 2025 Direct F3
transaction NJR Common Stock Tax liability -$342K -7.62K -3.13% $44.85 236K Nov 4, 2025 Direct F2
transaction NJR Common Stock Award $1.03M +22.9K +9.7% $44.85 259K Nov 4, 2025 Direct F4
transaction NJR Common Stock Tax liability -$506K -11.3K -4.36% $44.85 248K Nov 4, 2025 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 6, 2024, plus 484 accrued dividend equivalents. The second and third tranches will vest on September 30, 2026 and September 30, 2027, 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 97 percent of target (plus 1,629 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the LDCC of NJR 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 134 percent of target (plus 2,408 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the LDCC of NJR performance versus the applicable performance goal. Performance share units and dividend equivalents convert into one share of NJR Common Stock upon vesting.
F5 Total includes an adjustment of 0.786 shares to correct a prior rounding error.