NJR insider files RSU tax withholdings; 42,144 shares owned

Rhea-AI Filing Summary

New Jersey Resources (NJR) executive Amy Cradic (SVP & COO Non‑Utility Business) reported routine tax withholdings tied to RSU vesting on 10/15/2025. The filing shows common stock withheld to cover taxes of 895 shares at $46.22, 955 shares at $46.22, and 735 shares at $46.22.

Following these transactions, Cradic beneficially owns 42,144 shares of NJR common stock. Notes indicate dividend-equivalent adjustments to totals and scheduled future vesting dates for previously granted RSUs.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cradic Amy

(Last) (First) (Middle)

C/O NEW JERSEY RESOURCES CORPORATION

1415 WYCKOFF ROAD

(Street)

WALL NJ 07719

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEW JERSEY RESOURCES CORP [ NJR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & COO Non-Utility Business

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/15/2025		F		895(1)	D	$46.22	43,603(2)	D
Common Stock	10/15/2025		F		955(3)	D	$46.22	42,815(4)	D
Common Stock	10/15/2025		F		735(5)	D	$46.22	42,144(6)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares withheld to pay taxes due upon vesting of the third and final tranche of the Restricted Stock Unit (RSU) award previously granted on November 10, 2022.

2. Total adjusted for 227 accrued dividend equivalents payable upon vesting of RSUs. Each RSU and dividend equivalent converts into one share of New Jersey Resources Corporation (NJR) Common Stock upon vesting.

3. Represents shares withheld to pay taxes due upon vesting of the second tranche of the RSU award previously granted on November 15, 2023. The final tranche will vest on October 15, 2026.

4. Total adjusted for 167 accrued dividend equivalents payable upon vesting of RSUs. Each RSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.

5. Represents shares withheld to pay taxes due upon vesting of the first tranche of the RSU award previously granted on November 6, 2024. The second and third tranches will vest on October 15, 2026 and October 15, 2027, respectively.

6. Total adjusted for 65 accrued dividend equivalents payable upon vesting of RSUs, and decreased by 1 share to correct a rounding adjustment. Each RSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.

Remarks:

	/s/ Tejal K. Mehta, as attorney-in-fact for Amy Cradic	10/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did NJR (NJR) insider Amy Cradic report?

A Form 4 disclosing shares withheld to pay taxes upon RSU vesting on 10/15/2025.

How many NJR shares were withheld to cover taxes?

895, 955, and 735 shares of common stock were withheld, each at $46.22.

How many NJR shares does the insider own after these transactions?

Beneficial ownership is 42,144 shares following the reported transactions.

Why were the NJR shares withheld?

To satisfy tax obligations upon the vesting of previously granted RSUs.

Were there adjustments related to dividend equivalents?

Yes. Totals were adjusted for 227, 167, and 65 accrued dividend equivalents associated with the vesting RSUs.

What future RSU vesting dates were noted?

The final tranche of the 2023 award vests on October 15, 2026; 2024 award tranches vest on October 15, 2026 and October 15, 2027.