[Form 4] NEW JERSEY RESOURCES CORP Insider Trading Activity

Rhea-AI Filing Summary

New Jersey Resources (NJR) reported insider equity activity by its SVP, Human Resources. On 11/04/2025, the officer acquired 3,155 restricted stock units and 2,126 performance share units, and later acquired 1,435 additional performance share units. Shares were also withheld to cover taxes upon vesting: 667 and 450 shares at $44.85. Following these transactions, the officer beneficially owned 20,815 shares directly.

The RSU grant vests in three equal annual installments on October 15, 2026, October 15, 2027, and October 15, 2028. The performance share units vested after a 36‑month period beginning on October 1, 2022, based on certified performance outcomes, with dividend equivalents included, and convert into one share of NJR common stock upon vesting.

Insights

Equity Compensation Analyst

Routine Form 4 showing equity awards vesting and tax withholding.

The filing lists standard equity compensation events: RSU grants and performance share unit vesting, all dated 11/04/2025. Acquisitions total 6,716 shares (RSUs and PSUs), with 1,117 shares withheld for taxes at a reference price of $44.85.

These transactions reflect previously granted awards becoming deliverable and scheduled RSU vesting. The officer’s direct holdings after the events are 20,815 shares, a factual baseline disclosed in the table.

There is no stated cash inflow to the company and no change to capital structure beyond routine share issuance and tax withholding. Actual trading impact, if any, depends on future activity not covered here.

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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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^*

DelGiudice Lori

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Human Resources

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/04/2025		A		3,155(1)	A	$44.85	18,371	D
Common Stock	11/04/2025		A		2,126(2)	A	$44.85	20,497	D
Common Stock	11/04/2025		F		667(3)	D	$44.85	19,830	D
Common Stock	11/04/2025		A		1,435(4)	A	$44.85	21,265	D
Common Stock	11/04/2025		F		450(3)	D	$44.85	20,815	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 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 226 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the Leadership Development and Compensation Committee 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 151 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 Lori DelGiudice	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.

FAQ

What did NJR’s SVP report on Form 4 for 11/04/2025?

Acquisitions of 3,155 RSUs, 2,126 performance share units, and 1,435 performance share units, plus tax withholdings of 667 and 450 shares at $44.85.

How many NJR shares does the reporting person own after these transactions?

Beneficial ownership is 20,815 shares directly after the reported transactions.

What is the vesting schedule for the new NJR RSU grant (3,155 units)?

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

How were the NJR performance share units determined?

They vested after a 36‑month period beginning on October 1, 2022, based on certified performance, with dividend equivalents included.

What price was used for the tax withholding shares?

Shares withheld for taxes were recorded at $44.85.

Does this Form 4 indicate company proceeds?

No. It reflects equity vesting and tax withholding; proceeds to the issuer are not indicated.