Form 4: NJR Corporate Controller Receives RSU Grant

Stephen Skrocki, Corporate Controller of New Jersey Resources Corp, was granted 1,263 restricted stock units at $44.85 per unit.

Summary

• Stephen Skrocki, Corporate Controller and Principal Accounting Officer (PAO) of New Jersey Resources Corp (NJR), acquired 1,263 shares of common stock.
• The acquisition occurred on November 4, 2025, and was a grant of restricted stock units (RSUs) under the NJR 2017 Stock Award and Incentive Plan.
• Each RSU represents a contingent right to receive one share of NJR Common Stock, valued at $44.85 per unit at the time of grant.
• The RSUs will vest in three equal annual installments on October 15, 2026, October 15, 2027, and October 15, 2028.
• Following this transaction, Stephen Skrocki beneficially owns a total of 7,129.389 shares of NJR common stock.

Sentiment

Score: 6

Explanation: Slightly positive, as it represents a routine executive compensation event that aligns management's interests with shareholders, without indicating any negative operational or financial news.

Positives

• The grant of restricted stock units aligns the interests of the Corporate Controller with those of shareholders, promoting long-term value creation.
• This is a standard form of executive compensation, indicating ongoing commitment and retention of key management personnel.

Future Outlook

The filing details a standard equity compensation grant with a multi-year vesting schedule, indicating a long-term retention strategy for a key executive. It does not provide broader forward-looking statements regarding company performance or strategic direction.

Industry Context

This insider transaction is a routine compensation event common across publicly traded companies, particularly in the utility and energy sectors, to incentivize and retain key executives through equity awards. It does not reflect broader industry trends or competitive shifts.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as part of executive compensation is a widely adopted practice across various industries, including the utility sector where New Jersey Resources Corp operates.
• The three-year vesting schedule is typical for such awards, designed to promote long-term executive retention and align management incentives with shareholder value over several years.
• The specific number of units and the grant price are consistent with compensation practices for corporate controllers in companies of similar size and market capitalization within the utility industry, though direct comparisons to specific competitor grants are not provided in this filing.

Corporate Governance

Stakeholder Impact

• Shareholders: The RSU grant aligns the interests of a key executive with long-term shareholder value, potentially leading to improved performance and retention of talent.
• Employees: Reflects standard compensation practices for senior management, which can influence overall employee morale and perception of fairness in compensation structures.

Next Steps

• The granted Restricted Stock Units will vest in three equal annual installments on October 15, 2026, October 15, 2027, and October 15, 2028.

Key Dates

Keywords

New Jersey Resources Corp, NJR, Stephen Skrocki, Restricted Stock Units, RSU Grant, Insider Transaction, Executive Compensation, Form 4, Equity Award