Form 4: New Jersey Resources Corp: SVP, Chief Information Officer Reports Stock Transactions

Jacqueline K. Shea, SVP and Chief Information Officer of New Jersey Resources Corp, reports the withholding of shares to cover taxes upon vesting of restricted stock units and deferred stock retention awards.

Summary

• Jacqueline K. Shea, SVP, Chief Information Officer of New Jersey Resources Corp, filed a Form 4 detailing changes in beneficial ownership.
• The report covers transactions on October 15, 2024, involving the withholding of common stock shares to cover tax obligations related to vesting Restricted Stock Units (RSUs) and Deferred Stock Retention (DSR) awards.
• A total of 3,496 shares were withheld at a price of $46.61 per share.
• The transactions adjusted the reporting person's holdings to 28,384.121 shares of common stock.
• The report also mentions adjustments for accrued dividend equivalents payable upon vesting of RSUs and DSRs.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, and the transactions are related to standard executive compensation practices. Therefore, the sentiment is neutral.

Industry Context

This filing is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies to align executive interests with shareholder value.
• Companies like Southern Company, Duke Energy, and Exelon also utilize RSUs and DSRs as part of their executive compensation packages.
• The vesting schedules and tax withholding practices are generally consistent with industry norms.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in the company's financial position.

Key Dates