Form 4: Donald L. Correll Reports Acquisition of New Jersey Resources Corp Restricted Stock Units

Director Donald L. Correll reports acquisition of 3,975.727 Restricted Stock Units (RSUs) of New Jersey Resources Corp on January 21, 2025.

Summary

• Donald L. Correll, a director of New Jersey Resources Corp (NJR), filed a Form 4 on January 23, 2025, reporting a transaction.
• On January 21, 2025, Correll acquired 3,975.727 Restricted Stock Units (RSUs).
• These RSUs were granted as part of the Non-Employee Director Compensation Plan.
• Each RSU represents a contingent right to receive one share of NJR common stock plus dividend equivalents.
• The RSUs will vest on the earlier of the first anniversary of the grant date or the date of the next NJR Annual Meeting of Shareowners.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard director compensation practices and aligns director interests with shareholders.

Positives

• The acquisition of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment to the company's success.

Future Outlook

The vesting of the RSUs is contingent upon continued service as a director or the occurrence of the next NJR Annual Meeting of Shareowners.

Industry Context

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

Comparison to Industry Standards

• Companies like Southern Company (SO), Consolidated Edison (ED), and National Grid (NGG) also utilize equity-based compensation for their directors.
• The specific amount and vesting schedules vary based on company size, performance, and industry practices.
• RSUs are a common form of equity compensation, providing directors with a direct stake in the company's stock performance.

Stakeholder Impact

• Shareholders may view the director's acquisition of RSUs positively, as it aligns their interests with the company's performance.
• The compensation plan is designed to attract and retain qualified directors.

Next Steps

• The RSUs will vest according to the terms of the Non-Employee Director Compensation Plan.
• Correll will receive shares of NJR common stock upon vesting.

Key Dates

Keywords

Form 4, Restricted Stock Units, RSU, Director Compensation, Beneficial Ownership, New Jersey Resources Corp, NJR, Donald L. Correll