Form 4: New Jersey Resources Corp: SVP, Human Resources, Lori DelGiudice, Reports Stock Transactions
SEC Form 4 Filing
Lori DelGiudice, SVP of Human Resources at New Jersey Resources Corp, reports the disposal of shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On October 15, 2024, Lori DelGiudice, SVP of Human Resources at New Jersey Resources Corp (NJR), disposed of 320 shares of common stock at a price of $46.61.
- These shares were withheld to cover tax obligations arising from the vesting of the second tranche of a Restricted Stock Unit (RSU) award granted on November 10, 2022.
- Additionally, 426 shares were disposed of at the same price to cover taxes due upon vesting of the first tranche of an RSU award granted on November 15, 2023.
- Following these transactions, DelGiudice directly owns 14,455 shares of NJR common stock, adjusted for accrued dividend equivalents payable upon vesting of RSUs.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions for tax purposes, and does not indicate any significant positive or negative sentiment.
Future Outlook
The final tranche of the RSU award granted on November 10, 2022, will vest on October 15, 2025. The second and third tranches of the RSU award granted on November 15, 2023, will vest on October 15, 2025, and October 15, 2026, respectively.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted stock awards and the subsequent disposal of shares to cover tax obligations, a common practice among executives.
Comparison to Industry Standards
- Stock-based compensation is a common practice in publicly traded companies to align the interests of executives with those of shareholders.
- The vesting schedules and tax withholding practices described in this filing are typical for RSU awards.
- Comparing the size of DelGiudice's holdings and transactions to those of executives at peer companies like South Jersey Industries or UGI Corporation would provide further context, but that data is not available in this document.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
- The filing provides transparency to stakeholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 2022-11-10 | Date of original Restricted Stock Unit (RSU) award grant (second tranche vesting on 10/15/2024). |
| 2023-11-15 | Date of original Restricted Stock Unit (RSU) award grant (first tranche vesting on 10/15/2024). |
| 2024-10-15 | Date of transaction: Disposal of shares to cover taxes on vesting RSUs. |
| 2024-10-17 | Date of signature on the Form 4 filing. |
| 2025-10-15 | Future vesting date of the final tranche of the RSU award granted on November 10, 2022. |
| 2025-10-15 | Future vesting date of the second tranche of the RSU award granted on November 15, 2023. |
| 2026-10-15 | Future vesting date of the third tranche of the RSU award granted on November 15, 2023. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.