New Jersey Resources insider files Form 4 with RSU grant

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

An officer reported multiple equity transactions , including a grant of 5,838 RSUs, vesting of 4,225 and 2,854 performance-based shares, and tax withholdings of 1,793 and 1,211 shares.

Q: What price is shown for the NJR transactions?

The filing lists a reported price of $44.85 for the transactions on November 4, 2025.

Q: How do the RSUs granted to the NJR officer vest?

The 5,838 RSUs vest in three equal annual installments on October 15, 2026 , October 15, 2027 , and October 15, 2028 .

Q: Why were some NJR shares withheld in the Form 4?

The filing states that 1,793 and 1,211 shares were withheld to pay taxes due upon vesting of performance share units.

Q: What performance outcomes drove the NJR PSU vesting?

One tranche vested at 134% of target (plus 444 dividend equivalents), and another vested at 97% of target (plus 300 dividend equivalents) after a 36‑month period beginning October 1, 2022.

Q: Who is the reporting person in NJR’s Form 4?

The reporting person is Amy Cradic , SVP & COO, Non-Utility Business, with the form signed by an attorney-in-fact.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

New Jersey Resources (NJR) reported insider activity by its SVP & COO, Non-Utility Business. On November 4, 2025, the officer: (1) received 5,838 restricted stock units (RSUs) under the 2017 Stock Award and Incentive Plan; (2) had performance share units vest into 4,225 shares following certification of performance; (3) had 1,793 shares withheld for taxes; (4) had additional performance share units vest into 2,854 shares; and (5) had 1,211 shares withheld for taxes. The reported price for these entries was $44.85. RSUs vest in three equal annual installments on October 15, 2026, October 15, 2027, and October 15, 2028.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Cradic Amy

Role SVP & COO Non-Utility Business

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,838	$44.85	$262K
Grant/Award	Common Stock	4,225	$44.85	$189K
Tax Withholding	Common Stock	1,793	$44.85	$80K
Grant/Award	Common Stock	2,854	$44.85	$128K
Tax Withholding	Common Stock	1,211	$44.85	$54K

Holdings After Transaction: Common Stock — 47,982 shares (Direct)

Footnotes (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. Represents number of performance share units, which vested at 134 percent of target (plus 444 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. Represents shares withheld to pay taxes due upon vesting of performance share units. Represents number of performance share units, which vested at 97 percent of target (plus 300 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.

Form 4 Insider Transactions: What Each Field Means →

11/06/2025 - 03:52 PM

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^*

Cradic Amy

(Last)

(First)

(Middle)

C/O NEW JERSEY RESOURCES CORPORATION

1415 WYCKOFF ROAD

(Street)

WALL

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 & COO Non-Utility Business

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/04/2025		A		5,838⁽¹⁾	A	$44.85	47,982	D
Common Stock	11/04/2025		A		4,225⁽²⁾	A	$44.85	52,207	D
Common Stock	11/04/2025		F		1,793⁽³⁾	D	$44.85	50,414	D
Common Stock	11/04/2025		A		2,854⁽⁴⁾	A	$44.85	53,268	D
Common Stock	11/04/2025		F		1,211⁽³⁾	D	$44.85	52,057	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 444 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 300 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 Amy Cradic	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.

Source: View Original Filing on SEC EDGAR

FAQ

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

An officer reported multiple equity transactions, including a grant of 5,838 RSUs, vesting of 4,225 and 2,854 performance-based shares, and tax withholdings of 1,793 and 1,211 shares.

What price is shown for the NJR transactions?

The filing lists a reported price of $44.85 for the transactions on November 4, 2025.

How do the RSUs granted to the NJR officer vest?

The 5,838 RSUs vest in three equal annual installments on October 15, 2026, October 15, 2027, and October 15, 2028.

Why were some NJR shares withheld in the Form 4?

The filing states that 1,793 and 1,211 shares were withheld to pay taxes due upon vesting of performance share units.

What performance outcomes drove the NJR PSU vesting?

One tranche vested at 134% of target (plus 444 dividend equivalents), and another vested at 97% of target (plus 300 dividend equivalents) after a 36‑month period beginning October 1, 2022.

Who is the reporting person in NJR’s Form 4?

The reporting person is Amy Cradic, SVP & COO, Non-Utility Business, with the form signed by an attorney-in-fact.