[Form 4] NEW JERSEY RESOURCES CORP Insider Trading Activity

Rhea-AI Filing Summary

New Jersey Resources (NJR) reported insider activity tied to RSU vesting. On 10/15/2025, the reporting officer (Senior VP and COO, NJNG) had shares withheld to cover taxes at $42.66 per share: 1,195 shares related to a 2022 RSU tranche, 1,275 shares related to a 2023 RSU tranche, and 981 shares related to a 2024 RSU tranche (all coded F).

Following these transactions, directly held shares were reported as 32,904.448. Totals in the filing reflect accrued dividend equivalents of 263, 192, and 76 shares upon vesting, and include 134.806 shares from market-based changes in the NJR 401(k) plan. Remaining vesting noted: the final tranche of the 2023 award on October 15, 2026, and the second and third tranches of the 2024 award on October 15, 2026 and October 15, 2027.

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^*

Migliaccio Patrick J.

(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)
	Senior VP and COO, NJNG

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		1,195(1)	D	$42.66	34,757.642(2)	D
Common Stock	10/15/2025		F		1,275(3)	D	$42.66	33,674.642(4)	D
Common Stock	10/15/2025		F		981(5)	D	$42.66	32,904.448(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 263 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 192 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 76 accrued dividend equivalents payable upon vesting of RSUs, and includes 134.806 shares reflecting the market-based change in the reporting person's balance in the New Jersey Resources Corporation Employees' Retirement Savings Plan, which is a plan qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. 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 Patrick J. Migliaccio	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.
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FAQ

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

An officer reported share withholdings (code F) on 10/15/2025 to pay taxes due at $42.66 per share upon RSU vesting.

How many shares were withheld for taxes and from which awards?

1,195 (2022 RSU tranche), 1,275 (2023 RSU tranche), and 981 (2024 RSU tranche).

What is the officer’s reported direct ownership after these transactions?

Directly held shares were reported as 32,904.448 following the transactions.

What dividend equivalents were included upon RSU vesting?

Adjustments included 263, 192, and 76 dividend equivalents, each converting 1:1 into NJR common stock upon vesting.

Were there any plan-related share changes disclosed?

Yes. The total includes 134.806 shares from market-based changes in the NJR 401(k) plan.

What future vesting dates were noted for remaining tranches?

Final 2023 tranche on October 15, 2026; 2024 second and third tranches on October 15, 2026 and October 15, 2027.

Who is the reporting person’s role at NJR?

The reporting person is an Officer, titled Senior VP and COO, NJNG.