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NJR officer reports RSU vesting with share withholdings

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

New Jersey Resources (NJR) reported insider activity by its SVP, Chief Information Officer, related to RSU vesting on 10/15/2025. The filing shows three tax-withholding transactions (code F), where shares were withheld to cover taxes at a price of $46.22 per share: 588 shares tied to a 11/10/2022 RSU award, 704 shares tied to a 11/15/2023 award, and 630 shares tied to a 11/06/2024 award.

The notes state totals were adjusted for accrued dividend equivalents that vest with the RSUs, with each RSU and dividend equivalent converting into one NJR common share upon vesting. The 2023 award’s final tranche is scheduled to vest on October 15, 2026. For the 2024 award, the second and third tranches are scheduled to vest on October 15, 2026 and October 15, 2027, respectively. The filing also notes dividend reinvestment plan accruals included in beneficial ownership figures.

Positive

  • None.

Negative

  • None.
Insider Shea Jacqueline K
Role SVP, Chief Information Officer
Type Security Shares Price Value
Tax Withholding Common Stock 588 $46.22 $27K
Tax Withholding Common Stock 704 $46.22 $33K
Tax Withholding Common Stock 630 $46.22 $29K
Holdings After Transaction: Common Stock — 34,757.542 shares (Direct)
Footnotes (1)
  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. Total adjusted for 130 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. 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. Total adjusted for 106 accrued dividend equivalents payable upon vesting of RSUs. Each RSU and dividend equivalent converts into one share of NJR Common Stock upon vesting. 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. Total adjusted for 48 accrued dividend equivalents payable upon vesting of RSUs and includes 815.689 shares accrued through dividends under the NJR Dividend and Reinvestment Plan. Each RSU and dividend equivalent converts into one share of NJR Common Stock upon vesting.
Form 4 Insider Transactions: What Each Field Means →
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*
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)
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 588(1) D $46.22 34,757.542(2) D
Common Stock 10/15/2025 F 704(3) D $46.22 34,159.542(4) D
Common Stock 10/15/2025 F 630(5) D $46.22 34,393.231(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 130 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 106 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 48 accrued dividend equivalents payable upon vesting of RSUs and includes 815.689 shares accrued through dividends under the NJR Dividend and Reinvestment Plan. 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 Jacqueline K. Shea 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.
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.

Source: View Original Filing on SEC EDGAR

FAQ

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

An officer reported RSU vesting-related tax withholdings on 10/15/2025, using code F, with shares withheld at $46.22 per share.

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

Shares withheld were 588, 704, and 630, each at $46.22 per share.

Whose transactions are reported on NJR’s Form 4?

The transactions relate to NJR’s SVP, Chief Information Officer.

Which RSU awards were involved in the NJR transactions?

Awards granted on 11/10/2022, 11/15/2023, and 11/06/2024.

When will remaining NJR RSU tranches vest?

For the 2023 award, the final tranche on Oct 15, 2026. For the 2024 award, tranches on Oct 15, 2026 and Oct 15, 2027.

What does transaction code F indicate for NJR?

Code F indicates shares were withheld to pay taxes upon vesting of RSUs.

Do dividend equivalents affect NJR share counts here?

Yes. The filing notes accrued dividend equivalents convert into one share per equivalent upon vesting and adjust totals.