[Form 4] NEW JERSEY RESOURCES CORP Insider Trading Activity

Rhea-AI Filing Summary

New Jersey Resources (NJR) reported insider equity activity for its SVP, Chief Information Officer on 11/04/2025. The filing lists an award of 3,946 restricted stock units under the 2017 plan, vesting in three equal installments on October 15, 2026, October 15, 2027, and October 15, 2028.

It also records PSU results over a 36‑month period beginning October 1, 2022: 2,384 shares from units vesting at 134% of target plus 251 dividend equivalents, and 1,608 shares from units vesting at 97% of target plus 167 dividend equivalents. Shares withheld for taxes totaled 1,175 and 792 at a price of $44.85. Following the last transaction, beneficial ownership was 40,364.231 shares, held directly.

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

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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^*

Shea Jacqueline K

(Last) (First) (Middle)

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, Chief Information Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/04/2025

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	11/04/2025		A		3,946(1)	A	$44.85	38,339.231	D
Common Stock	11/04/2025		A		2,384(2)	A	$44.85	40,723.231	D
Common Stock	11/04/2025		F		1,175(3)	D	$44.85	39,548.231	D
Common Stock	11/04/2025		A		1,608(4)	A	$44.85	41,156.231	D
Common Stock	11/04/2025		F		792(3)	D	$44.85	40,364.231	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 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.

2. 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.

3. Represents shares withheld to pay taxes due upon vesting of performance share units.

4. 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.

Remarks:

	/s/ Tejal K. Mehta, as attorney-in-fact for Jacqueline K. Shea	11/06/2025
	** 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.
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.

FAQ

What did NJR (NJR) report in this Form 4?

The SVP, Chief Information Officer reported a grant of 3,946 RSUs, PSU vesting events, and tax share withholdings on 11/04/2025.

How do the 3,946 RSUs vest for NJR (NJR)?

They vest in three equal annual installments on Oct 15, 2026, Oct 15, 2027, and Oct 15, 2028.

What PSU outcomes were certified for NJR (NJR)?

PSUs vested at 134% of target (plus 251 dividend equivalents) and at 97% of target (plus 167 dividend equivalents), each converting into one share.

How many shares were withheld for taxes and at what price?

Shares withheld were 1,175 and 792 at $44.85 per share to cover taxes on PSU vesting.

What was the reporting person’s beneficial ownership after these transactions?

After the last transaction on 11/04/2025, beneficial ownership was 40,364.231 shares, held directly.

Whose transactions are reported for NJR (NJR)?

They are for the company’s SVP, Chief Information Officer, filed via attorney-in-fact.