Form 4: Director Peter C. Harvey Acquires Restricted Stock Units in New Jersey Resources Corp

Peter C. Harvey, a director of New Jersey Resources Corp, acquired 2,824.859 Restricted Stock Units (RSUs) on January 21, 2025, under the company's Non-Employee Director Compensation Plan.

Summary

• On January 21, 2025, Peter C. Harvey, a director of New Jersey Resources Corp (NJR), acquired 2,824.859 Restricted Stock Units (RSUs).
• The acquisition was made pursuant to the Non-Employee Director Compensation Plan, as amended.
• Each RSU represents a contingent right to receive one share of 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.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The granting of RSUs to a director is a common practice and suggests confidence in the company's future.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• The vesting schedule aligns the director's interests with those of the shareholders.

Future Outlook

The vesting of the RSU award is contingent upon the earlier of the first anniversary of the grant date or the date of the next NJR Annual Meeting of Shareowners.

Industry Context

Director compensation in the form of stock and restricted stock units is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Stakeholder Impact

• The acquisition of RSUs by a director aligns their interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term performance.

Key Dates

Keywords

Restricted Stock Units, Director Compensation, Form 4, NJR, New Jersey Resources Corp, Peter C. Harvey, RSU, Beneficial Ownership