NJR (NYSE: NJR) director awarded RSUs, stock from vesting

Q: What insider activity did NJR director James H. DeGraffenreidt Jr. report on this Form 4 for NJR?

The filing shows that James H. DeGraffenreidt Jr. , a director of New Jersey Resources Corporation (NJR) , reported an annual grant of restricted stock units (RSUs) and the vesting and conversion of a prior RSU award into NJR common shares.

Q: How many restricted stock units did the NJR director receive on January 21, 2026?

On January 21, 2026 , the director received 3,022.723 RSUs as his annual RSU retainer under NJRs Non-Employee Director Compensation Plan. Each RSU is a contingent right to receive one share of NJR common stock plus dividend equivalents.

Q: What were the terms and vesting schedule of the new NJR RSU award reported on this Form 4?

The new RSU award of 3,022.723 units has an exercise price of $0 and will vest in full on the earlier of the first anniversary of the grant date or the date of the next NJR Annual Meeting of Shareowners , as described in the footnotes.

Q: Which earlier NJR RSU grant vested, and how many shares of common stock were issued?

The filing notes that 2,824.859 RSUs granted on January 21, 2025 vested 100%, pursuant to the Non-Employee Director Compensation Plan. These RSUs were converted one-for-one into 2,824.859 shares of NJR common stock at a price of $47.97 per share.

Q: How many NJR common shares did the director acquire and how many does he own after the transactions?

A non-derivative transaction shows the acquisition of 2,938 NJR common shares at $47.97 per share. After the reported transactions, the director directly owns 23,042 shares of NJR common stock.

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

New Jersey Resources Corporation director James H. DeGraffenreidt Jr. reported routine equity compensation activity. On January 21, 2026, he received 3,022.723 restricted stock units (RSUs) at an exercise price of $0 as his annual RSU retainer under the Non-Employee Director Compensation Plan. Each RSU represents a contingent right to one share of NJR common stock plus dividend equivalents, and this award will vest in full on the earlier of the first anniversary of grant or the next NJR annual meeting of shareowners.

On the same date, 2,824.859 RSUs granted on January 21, 2025 became 100% vested and were converted one-for-one into NJR common shares at $47.97 per share. A related non-derivative transaction shows 2,938 common shares acquired at $47.97, with total directly held NJR common stock rising to 23,042 shares.

Insider Trade Summary

2,824.859 shares exercised/converted

Mixed 3 txns

Insider DEGRAFFENREIDT JAMES H JR

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	3,022.723	$0.00	--
Exercise	Restricted Stock Units	2,824.859	$47.97	$136K
Exercise	Common Stock	2,938	$47.97	$141K

Holdings After Transaction: Restricted Stock Units — 3,022.723 shares (Direct); Common Stock — 23,042 shares (Direct)

Footnotes (1)

Total includes 112.968 dividend equivalents accrued on Restricted Stock Units ("RSUs") plus a fractional share for rounding to the next whole share. 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. 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. Each RSU represents a contingent right to receive one share of NJR common stock plus dividend equivalents. 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.

Form 4 Insider Transactions: What Each Field Means →

01/23/2026 - 02:42 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
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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^*

DEGRAFFENREIDT JAMES H JR

(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)

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)
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	01/21/2026		M		2,938⁽¹⁾	A	$47.97	23,042	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)
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	$47.97	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 James H. DeGraffenreidt	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).
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 insider activity did NJR director James H. DeGraffenreidt Jr. report on this Form 4 for NJR?

The filing shows that James H. DeGraffenreidt Jr., a director of New Jersey Resources Corporation (NJR), reported an annual grant of restricted stock units (RSUs) and the vesting and conversion of a prior RSU award into NJR common shares.

How many restricted stock units did the NJR director receive on January 21, 2026?

On January 21, 2026, the director received 3,022.723 RSUs as his annual RSU retainer under NJRs Non-Employee Director Compensation Plan. Each RSU is a contingent right to receive one share of NJR common stock plus dividend equivalents.

What were the terms and vesting schedule of the new NJR RSU award reported on this Form 4?

The new RSU award of 3,022.723 units has an exercise price of $0 and will vest in full on the earlier of the first anniversary of the grant date or the date of the next NJR Annual Meeting of Shareowners, as described in the footnotes.

Which earlier NJR RSU grant vested, and how many shares of common stock were issued?

The filing notes that 2,824.859 RSUs granted on January 21, 2025 vested 100%, pursuant to the Non-Employee Director Compensation Plan. These RSUs were converted one-for-one into 2,824.859 shares of NJR common stock at a price of $47.97 per share.

How many NJR common shares did the director acquire and how many does he own after the transactions?

A non-derivative transaction shows the acquisition of 2,938 NJR common shares at $47.97 per share. After the reported transactions, the director directly owns 23,042 shares of NJR common stock.

Are the NJR restricted stock units held directly or indirectly by the reporting person?

The Form 4 indicates that the RSU transactions are reported with direct (D) ownership, and there is no footnote indicating that the RSUs or the related shares are held through another entity or that beneficial ownership is disclaimed.