Stephen D. Westhoven - 04 Nov 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
Issuer symbol: NJR
Transactions as of: 04 Nov 2025
Net transactions value: +$1,165,113
Form type: 4
Filing time: 06 Nov 2025, 15:52:48 UTC
Previous filing: 02 Oct 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	05 Nov 2025	0001492218

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NJR	Common Stock	Award	$574,170	+12,802	+5.8%	$44.85	234,611	04 Nov 2025	Direct	F1
transaction	NJR	Common Stock	Tax liability	$282,779	-6,305	-2.7%	$44.85	228,306	04 Nov 2025	Direct	F2
transaction	NJR	Common Stock	Award	$694,188	+15,478	+6.8%	$44.85	243,784	04 Nov 2025	Direct	F3
transaction	NJR	Common Stock	Tax liability	$341,892	-7,623	-3.1%	$44.85	236,161	04 Nov 2025	Direct	F2
transaction	NJR	Common Stock	Award	$1,027,469	+22,909	+9.7%	$44.85	259,070	04 Nov 2025	Direct	F4
transaction	NJR	Common Stock	Tax liability	$506,043	-11,283	-4.4%	$44.85	247,786	04 Nov 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.