Patrick J. Migliaccio - Nov 15, 2023 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role
Senior VP and COO, NJNG
Signature
/s/ Tejal K. Mehta, as attorney-in-fact for Patrick J. Migliaccio
Stock symbol
NJR
Transactions as of
Nov 15, 2023
Transactions value $
$752,837
Form type
4
Date filed
11/17/2023, 09:16 PM
Previous filing
Oct 16, 2023
Next filing
Dec 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NJR Common Stock Award $306K +7.19K +20.6% $42.55 42.1K Nov 15, 2023 Direct F1
transaction NJR Common Stock Award $285K +6.71K +15.94% $42.55 48.8K Nov 15, 2023 Direct F2
transaction NJR Common Stock Tax liability -$141K -3.3K -6.77% $42.55 45.5K Nov 15, 2023 Direct F3

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 Phantom Stock Award $302K +7.11K $42.55 7.11K Nov 15, 2023 Common Stock 7.11K Direct F4
transaction NJR Phantom Stock Tax liability -167 -2.35% 6.94K Nov 15, 2023 Common Stock 167 Direct F4, F5
* 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, 2024, October 15, 2025 and October 15, 2026, and each RSU represents a contingent right to receive one share of NJR Common Stock.
F2 Represents number of performance share units, which vested at 150 percent of target (plus 687 dividend equivalents), after a 36-month period beginning on October 1, 2020, upon certification by the Leadership Development and Compensation Committee 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 The phantom stock units represent a performance share unit award that has vested and has been deferred pursuant to NJR's Officer Deferred Compensation Plan and is to be paid out in a lump sum on January 1, 2028. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.
F5 Represents shares withheld to pay taxes due upon deferral of performance share unit award.