New Jersey Resources (NJR) director settles deferred phantom stock into common stock

Rhea-AI Filing Summary

New Jersey Resources Corp director Jane M. Kenny reported the settlement of deferred equity awards. On January 5, 2026, 3,191 phantom stock units tied to prior restricted stock awards were converted at $45.74 per unit into common stock, consistent with the company’s Directors' Deferred Compensation Plan. In connection with this distribution, Kenny acquired 3,695 shares of NJR common stock, including 504 shares attributable to accrued dividend equivalents. After this transaction, she directly owned 29,998 shares of NJR common stock.

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^*

KENNY JANE M

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/05/2026

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	01/05/2026	01/05/2026	M		3,695(1)	A	$45.74	29,998	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
Phantom Stock	(2)	01/05/2026	01/05/2026	M			3,191	(3)	(3)	Common Stock	3,191	$45.74	0	D

Explanation of Responses:

1. Represents the distribution of phantom stock units, including 504 shares for accrued dividends, for the 2021 restricted stock unit vesting that was deferred pursuant to the New Jersey Resources Corporation ("NJR") Directors' Deferred Compensation Plan. Each share of phantom stock and dividend equivalent is the economic equivalent of one share of NJR Common Stock.

2. Each Phantom Stock Unit is the economic equivalent of one share of NJR Common Stock.

3. The phantom stock units represent the 2021 restricted stock unit vesting that was deferred pursuant to the NJR Directors' Deferred Compensation Plan to be paid in NJR Common Stock in one lump sum in January 2026.

Remarks:

	/s/ Tejal K. Mehta, as attorney-in-fact for Jane M. Kenny	01/07/2026
	** 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.
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FAQ

What insider transaction did NJR director Jane M. Kenny report on this Form 4?

Jane M. Kenny reported the distribution of previously deferred equity awards, in which 3,191 phantom stock units were converted into 3,695 shares of New Jersey Resources Corp (NJR) common stock on January 5, 2026.

How many NJR shares does Jane M. Kenny own after the January 5, 2026 transaction?

Following the reported transaction, Jane M. Kenny directly owned 29,998 shares of New Jersey Resources Corp (NJR) common stock.

What are phantom stock units in the context of NJR’s director compensation?

At NJR, each phantom stock unit is described as the economic equivalent of one share of NJR common stock and can be settled in common stock under the Directors' Deferred Compensation Plan.

What is the source of the phantom stock units reported by NJR director Jane M. Kenny?

The phantom stock units reported relate to 2021 restricted stock unit vesting that was deferred under the NJR Directors' Deferred Compensation Plan and scheduled to be paid in NJR common stock in a lump sum in January 2026.

What role do dividend equivalents play in Jane M. Kenny’s NJR Form 4 filing?

The filing notes that the distribution of phantom stock units includes 504 shares attributable to accrued dividends, reflecting dividend equivalents that were also settled in NJR common stock.

At what price were Jane M. Kenny’s NJR phantom stock units converted?

The conversion of both the phantom stock units and the related common stock in the transaction is reported at a price of $45.74 per share.