Form 4: New Jersey Resources Corp SVP and CFO Roberto Bel Reports Stock Disposals to Cover Tax Obligations

Roberto Bel, SVP and CFO of New Jersey Resources Corp, reported the disposal of company stock to cover tax obligations related to vesting restricted stock units and deferred stock retention awards.

Summary

• Roberto Bel, the SVP and CFO of New Jersey Resources Corp (NJR), filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the disposal of common stock on October 15, 2024, to cover tax obligations arising from the vesting of restricted stock units (RSUs) and deferred stock retention (DSR) awards.
• A total of 527 shares were disposed of at a price of $46.61 to cover taxes on the vesting of the third tranche of RSUs granted on November 10, 2021.
• An additional 901 shares were disposed of at the same price to cover taxes on the vesting of the second tranche of RSUs granted on November 10, 2022.
• Furthermore, 953 shares were disposed of to cover taxes on the vesting of the first tranche of RSUs granted on November 15, 2023.
• Finally, 1,581 shares were disposed of to cover taxes on the vesting of the DSR award granted on November 10, 2021.
• Following these transactions, Bel's direct ownership of NJR common stock is 21,247 shares.
• The filing was signed by Tejal K. Mehta, as attorney-in-fact for Roberto F. Bel, on October 17, 2024.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock disposals for tax purposes. It doesn't convey strong positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common and don't necessarily indicate a negative outlook on the company.

Stakeholder Impact

• The stock disposal by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.

Key Dates