Richard Reich - Nov 4, 2025 Form 4 Insider Report for NEW JERSEY RESOURCES CORP (NJR)

Role: SVP and Gen Counsel
Signature: /s/ Tejal K. Mehta, as attorney-in-fact for Richard Reich
Stock symbol: NJR
Transactions as of: Nov 4, 2025
Transactions value $: $373,331
Form type: 4
Date filed: 11/6/2025, 03:52 PM
Previous filing: Oct 17, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Reich Richard	SVP and Gen Counsel	C/O NEW JERSEY RESOURCES CORPORATION, 1415 WYCKOFF ROAD, WALL	/s/ Tejal K. Mehta, as attorney-in-fact for Richard Reich	2025-11-06	0001883581

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NJR	Common Stock	Award	$200K	+4.45K	+16.85%	$44.85	30.9K	Nov 4, 2025	Direct	F1
transaction	NJR	Common Stock	Award	$69.9K	+1.56K	+5.05%	$44.85	32.4K	Nov 4, 2025	Direct	F2
transaction	NJR	Common Stock	Tax liability	-$34.4K	-768	-2.37%	$44.85	31.6K	Nov 4, 2025	Direct	F3
transaction	NJR	Common Stock	Award	$47.2K	+1.05K	+3.32%	$44.85	32.7K	Nov 4, 2025	Direct	F4
transaction	NJR	Common Stock	Tax liability	-$23.2K	-518	-1.58%	$44.85	32.2K	Nov 4, 2025	Direct	F3
holding	NJR	Common Stock						3.31K	Nov 4, 2025	By NJR Employees' Retirement Savings Plan	F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NJR	Phantom Stock	Award	$70K	+1.56K		$44.85	1.56K	Nov 4, 2025	Common Stock	1.56K		Direct	F6
transaction	NJR	Phantom Stock	Tax liability	-$1.66K	-37	-2.37%	$44.85	1.52K	Nov 4, 2025	Common Stock	37		Direct	F3, F6
transaction	NJR	Phantom Stock	Award	$47.2K	+1.05K	+69.07%	$44.85	2.58K	Nov 4, 2025	Common Stock	1.05K		Direct	F7
transaction	NJR	Phantom Stock	Tax liability	-$1.12K	-25	-0.97%	$44.85	2.55K	Nov 4, 2025	Common Stock	25		Direct	F3, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.
F2	Represents 50 percent of performance share units, which vested at 134 percent of target (plus 165 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.
F3	Represents shares withheld to pay taxes due upon vesting of performance share units.
F4	Represents 50 percent of performance share units, which vested at 97 percent of target (plus 110 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.
F5	Represents shares acquired through the NJR Employees' Retirement Savings Plan, a plan qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. Such shares represent acquisitions through the current date.
F6	The phantom stock represents 50 percent of performance share units, which vested at 134 percent of target (plus 165 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the LDCC of NJR performance versus the appliable performance goal. These shares have been deferred pursuant to NJR's Officers' Deferred Compensation Plan and are to be paid out in a lump sum beginning in January 2030. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.
F7	The phantom stock represents 50 percent performance share units, which vested at 97 percent of target (plus 110 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the LDCC of NJR performance versus the appliable performance goal. These shares have been deferred pursuant to NJR's Officers' Deferred Compensation Plan and are to be paid out in a lump sum beginning in January 2029. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.