New Jersey Resources CEO receives vested stock awards

The President & CEO's 2024 PBRSU award has a third and final tranche scheduled to vest on September 30, 2027.

Rhea-AI Filing Summary

New Jersey Resources Corporation President & CEO Stephen D. Westhoven acquired 14,046 shares on September 30, 2026, as the third and final vesting of PBRSUs granted November 15, 2023, including 1,512 dividend equivalents. He also acquired 13,288 shares from the second tranche of PBRSUs granted November 6, 2024, including 969 dividend equivalents. 7,104 and 6,797 shares, respectively, were withheld for taxes due upon vesting. The 2024 award's final tranche is scheduled to vest September 30, 2027.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Westhoven Stephen D

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	14,046	$50.60	$711K
Tax Withholding	Common Stock F2	7,104	$50.60	$359K
Grant/Award	Common Stock F3	13,288	$50.60	$672K
Tax Withholding	Common Stock F2, F4	6,797	$50.60	$344K

Holdings After Transaction: Common Stock — 261,320.317 shares (Direct)

Footnotes (4)

1. F1. Represents third and final vesting of Performance-Based Restricted Stock Units (PBRSUs) previously granted on November 15, 2023, plus 1,512 accrued dividend equivalents. The applicable performance goal has been satisfied by New Jersey Resources Corporation (NJR) and certified by the Leadership Development and Compensation Committee of the Board of Directors (LDCC). Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.
2. F2. Represents shares withheld to pay taxes due upon vesting of PBRSUs.
3. F3. Represents vesting of the second tranche of PBRSUs, previously granted on November 6, 2024, plus 969 accrued dividend equivalents. The third and final tranche will vest on September 30, 2027. The applicable performance goal has been satisfied by NJR and certified by the LDCC. Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.
4. F4. Total reflects adjustment of 101.007 shares accrued through dividends under the NJR Employee Retirement Savings 401(k) and Employee Stock Ownership Plans.

Key Figures

2023 PBRSUs vested: 14,046 shares 2023 dividend equivalents: 1,512 equivalents 2023 shares withheld for taxes: 7,104 shares +3 more

6 metrics

2023 PBRSUs vested 14,046 shares September 30, 2026; includes 1,512 dividend equivalents

2023 dividend equivalents 1,512 equivalents Included in the September 30, 2026 vesting

2023 shares withheld for taxes 7,104 shares September 30, 2026 vesting

2024 PBRSUs vested 13,288 shares Second tranche vested September 30, 2026; includes 969 dividend equivalents

2024 dividend equivalents 969 equivalents Included in the September 30, 2026 vesting

2024 shares withheld for taxes 6,797 shares September 30, 2026 vesting

Key Terms

Performance-Based Restricted Stock Units (PBRSUs), dividend equivalents, performance goal

3 terms

Performance-Based Restricted Stock Units (PBRSUs) financial

"third and final vesting of Performance-Based Restricted Stock Units (PBRSUs)"

dividend equivalents financial

"plus 1,512 accrued dividend equivalents"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

performance goal financial

"The applicable performance goal has been satisfied"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did NJR President & CEO Stephen D. Westhoven receive and have withheld?

On September 30, 2026, Stephen D. Westhoven acquired 14,046 shares in the third and final vesting of a November 15, 2023 PBRSU grant and 13,288 shares from the second tranche of a November 6, 2024 grant. Respectively, 7,104 and 6,797 shares were withheld to pay taxes due upon vesting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 10/02/2026 - 05:07 PM Accepted by SEC EDGAR 10/02/2026 - 05:06 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Westhoven Stephen D

(Last) (First) (Middle)

C/O NEW JERSEY RESOURCES CORPORATION

1415 WYCKOFF ROAD

(Street)

WALL NEW JERSEY 07719

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2026

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

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

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

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	09/30/2026		A		14,046(1)	A	$50.6	261,832.31	D
Common Stock	09/30/2026		F		7,104(2)	D	$50.6	254,728.31	D
Common Stock	09/30/2026		A		13,288(3)	A	$50.6	268,016.31	D
Common Stock	09/30/2026		F		6,797(2)	D	$50.6	261,320.317(4)	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 third and final vesting of Performance-Based Restricted Stock Units (PBRSUs) previously granted on November 15, 2023, plus 1,512 accrued dividend equivalents. The applicable performance goal has been satisfied by New Jersey Resources Corporation (NJR) and certified by the Leadership Development and Compensation Committee of the Board of Directors (LDCC). Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.

2. Represents shares withheld to pay taxes due upon vesting of PBRSUs.

3. Represents vesting of the second tranche of PBRSUs, previously granted on November 6, 2024, plus 969 accrued dividend equivalents. The third and final tranche will vest on September 30, 2027. The applicable performance goal has been satisfied by NJR and certified by the LDCC. Each PBRSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.

4. Total reflects adjustment of 101.007 shares accrued through dividends under the NJR Employee Retirement Savings 401(k) and Employee Stock Ownership Plans.

Remarks:

	/s/ Melissa Abraham, as attorney-in-fact for Stephen D. Westhoven	10/02/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)