Jacqueline K. Shea - 04 Nov 2025 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role: SVP, Chief Information Officer
Signature: /s/ Tejal K. Mehta, as attorney-in-fact for Jacqueline K. Shea
Issuer symbol: NJR
Transactions as of: 04 Nov 2025
Net transactions value: +$267,799
Form type: 4
Filing time: 06 Nov 2025, 15:52:53 UTC
Previous filing: 17 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Shea Jacqueline K	SVP, Chief Information Officer	1415 WYCKOFF ROAD, WALL	/s/ Tejal K. Mehta, as attorney-in-fact for Jacqueline K. Shea	06 Nov 2025	0001690332

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NJR	Common Stock	Award	$176,978	+3,946	+11%	$44.85	38,339	04 Nov 2025	Direct	F1
transaction	NJR	Common Stock	Award	$106,922	+2,384	+6.2%	$44.85	40,723	04 Nov 2025	Direct	F2
transaction	NJR	Common Stock	Tax liability	$52,699	-1,175	-2.9%	$44.85	39,548	04 Nov 2025	Direct	F3
transaction	NJR	Common Stock	Award	$72,119	+1,608	+4.1%	$44.85	41,156	04 Nov 2025	Direct	F4
transaction	NJR	Common Stock	Tax liability	$35,521	-792	-1.9%	$44.85	40,364	04 Nov 2025	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents grant of restricted stock units (RSUs) under the New Jersey Resources Corporation (NJR) 2017 Stock Award and Incentive Plan. RSUs vest in three equal annual installments on October 15, 2026, October 15, 2027 and October 15, 2028. Each RSU represents a contingent right to receive one share of NJR Common Stock.
F2	Represents number of performance share units, which vested at 134 percent of target (plus 251 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the Leadership Development and Compensation Committee (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.
F3	Represents shares withheld to pay taxes due upon vesting of performance share units.
F4	Represents number of performance share units, which vested at 97 percent of target (plus 167 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.