NJR (NJR) director O'Sullivan logs RSU grant and 2,938-share vesting

Rhea-AI Filing Summary

New Jersey Resources Corporation director Michael A. O'Sullivan reported equity award and vesting activity in company stock. On January 21, 2026, he received 3,022.723 Restricted Stock Units (RSUs) as his annual non-employee director retainer, with each RSU representing a contingent right to one share of NJR common stock plus dividend equivalents. This RSU award will vest in full on the earlier of the first anniversary of the grant date or the next NJR annual meeting of shareowners.

On the same date, 2,824.859 previously granted RSUs vested at 100%, converting one-for-one into NJR common shares under the director compensation plan. Including 112.968 dividend-equivalent shares and rounding, this resulted in the acquisition of 2,938 shares of common stock at a reported price of $47.97. After these transactions, O'Sullivan directly beneficially owns 9,257 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^*

O'Sullivan Michael A

(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)
01/21/2026

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	01/21/2026		M		2,938(1)	A	$47.97	9,257	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
Restricted Stock Units	(2)	01/21/2026		A		3,022.723		(3)	(3)	Common Stock	3,022.723	$0	3,022.723	D
Restricted Stock Units	(4)	01/21/2026		M			2,824.859	(5)	(5)	Common Stock	2,824.859	$0	0	D

Explanation of Responses:

1. Total includes 112.968 dividend equivalents accrued on Restricted Stock Units ("RSUs") plus a fractional share for rounding to the next whole share.

2. Represents the annual RSU retainer pursuant to the Non-Employee Director Compensation Plan, as amended. Each RSU represents a contingent right to receive one share of New Jersey Resources Corporation ("NJR") common stock plus dividend equivalents.

3. The RSU award will vest in full on the earlier of (i) the first anniversary of the date of grant, or (ii) the date of the next NJR Annual Meeting of Shareowners.

4. Each RSU represents a contingent right to receive one share of NJR common stock plus dividend equivalents.

5. Represents 100 percent vesting of RSUs granted on January 21, 2025, pursuant to the Non-Employee Director Compensation Plan, as amended. RSUs converted one for one into shares of NJR common stock.

Remarks:

	/s/ Tejal K. Mehta, as attorney-in-fact for Michael A. O'Sullivan	01/23/2026
	** 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).
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FAQ

What insider transaction did NJR director Michael A. O'Sullivan report?

Director Michael A. O'Sullivan reported receiving an annual grant of 3,022.723 Restricted Stock Units (RSUs) and the full vesting and conversion of 2,824.859 previously granted RSUs into NJR common stock on January 21, 2026.

How many New Jersey Resources (NJR) RSUs did O'Sullivan receive in this filing?

O'Sullivan received 3,022.723 RSUs as his annual RSU retainer under the Non-Employee Director Compensation Plan. Each RSU is a contingent right to receive one share of NJR common stock plus dividend equivalents.

When do Michael A. O'Sullivan's new NJR RSUs vest?

The new RSU award will vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the date of the next NJR Annual Meeting of Shareowners, as stated in the filing.

How many NJR common shares did O'Sullivan acquire upon RSU vesting?

Upon 100% vesting of RSUs granted on January 21, 2025, 2,824.859 RSUs converted one-for-one into NJR common stock. Including 112.968 dividend-equivalent shares and rounding, this resulted in the acquisition of 2,938 common shares at a reported price of $47.97 per share.

How many New Jersey Resources (NJR) shares does O'Sullivan own after these transactions?

Following the reported transactions, O'Sullivan directly beneficially owns 9,257 shares of NJR common stock, according to the Form 4.

What is the nature of the Restricted Stock Units reported by O'Sullivan at NJR?

The RSUs reported are granted under NJR's Non-Employee Director Compensation Plan. Each RSU represents a contingent right to receive one share of NJR common stock plus dividend equivalents, which can increase the share count upon settlement.