Form 4: Director Jane M. Kenny Acquires Shares and Phantom Stock in New Jersey Resources Corp

Director Jane M. Kenny acquired 3,044 shares of common stock and 2,638 phantom stock units of New Jersey Resources Corp on January 6, 2025, as part of a deferred compensation plan.

Summary

• Jane M. Kenny, a director at New Jersey Resources Corp (NJR), acquired 3,044 shares of common stock at a price of $45.68 per share on January 6, 2025.
• Additionally, Ms. Kenny received 2,638 phantom stock units, also on January 6, 2025, as part of a deferred compensation plan.
• The phantom stock units represent the vesting of restricted stock units from 2020 that were deferred under the NJR Directors Deferred Compensation Plan.
• Each phantom stock unit is equivalent to one share of NJR common stock.
• The phantom stock units and accrued dividends were paid in a lump sum in January 2025.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with the company's performance.

Positives

• The acquisition of shares and phantom stock units by a director could be seen as a positive sign of confidence in the company's future.

Industry Context

This is a standard SEC Form 4 filing, which is a routine disclosure for company insiders when they trade company stock. It is a common practice for directors to receive stock-based compensation.

Comparison to Industry Standards

• Stock-based compensation is a common practice for directors and executives across various industries, including utilities like New Jersey Resources Corp.
• The use of phantom stock units is a fairly standard method of deferred compensation, often used to align the interests of directors with the long-term performance of the company.
• Companies like Consolidated Edison (ED) and Southern Company (SO) also use similar compensation structures for their board members.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it indicates director confidence in the company.

Key Dates

Keywords

Form 4, insider trading, beneficial ownership, phantom stock, deferred compensation, NJR, New Jersey Resources Corp, Jane M. Kenny, director