Form 4: Director M. Susan Hardwick Reports Stock Transactions at New Jersey Resources Corp

Director M. Susan Hardwick acquired shares and phantom stock units of New Jersey Resources Corp through deferred compensation plans.

Summary

• Director M. Susan Hardwick acquired 1,022 shares of New Jersey Resources Corp (NJR) common stock at $45.68 per share on January 6, 2025.
• She also acquired 1,392 shares of NJR common stock at the same price on the same date.
• These acquisitions were due to the distribution of phantom stock units from deferred director fees and restricted stock unit vesting.
• Additionally, she received 866.919 phantom stock units and 1,206 phantom stock units, both valued at $45.68 per unit, which are equivalent to shares of NJR common stock.
• These phantom stock units represent deferred compensation from 2020 and are to be paid in a lump sum in January 2025.

Sentiment

Score: 7

Explanation: The document reflects standard director compensation practices and does not indicate any unusual or concerning activity. The sentiment is neutral to slightly positive due to the alignment of director interests.

Positives

• The acquisition of shares and phantom stock units indicates continued alignment of director interests with the company's performance.
• The deferred compensation plan allows for long-term incentives for directors.

Industry Context

This filing is a routine disclosure of stock transactions by a company director, which is common practice in publicly traded companies.

Comparison to Industry Standards

• The use of phantom stock units as part of director compensation is a common practice among publicly traded companies, particularly in the utility sector.
• Deferred compensation plans are also a standard method to align director interests with long-term company performance.
• Companies like Southern Company (SO) and Duke Energy (DUK) also utilize similar compensation structures for their directors.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders as they align director interests with company performance.

Key Dates

Keywords

Form 4, Beneficial Ownership, Director, Stock Acquisition, Phantom Stock Units, Deferred Compensation, New Jersey Resources Corp, NJR