Form 4: NJR Director Aliff Receives RSU Grant

New Jersey Resources Corp. Director Gregory E. Aliff was granted 3,022.723 Restricted Stock Units as part of his annual compensation.

Summary

• Gregory E. Aliff, a Director of New Jersey Resources Corp. (NJR), was granted 3,022.723 Restricted Stock Units (RSUs).
• The grant date for these RSUs was January 21, 2026.
• This RSU award represents the annual retainer pursuant to the company's Non-Employee Director Compensation Plan, as amended.
• Each RSU provides a contingent right to receive one share of NJR common stock, plus dividend equivalents.
• The RSUs will vest in full on the earlier of (i) the first anniversary of the grant date (January 21, 2027) or (ii) the date of the next NJR Annual Meeting of Shareowners.

Sentiment

Score: 6

Explanation: The filing reflects a standard, expected compensation event for a director, which is generally neutral but slightly positive due to the alignment of interests with shareholders through equity awards.

Positives

• The grant of Restricted Stock Units to Director Aliff aligns his interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• This is a standard component of the Non-Employee Director Compensation Plan, indicating a structured approach to executive and director remuneration.

Future Outlook

The Restricted Stock Units are scheduled to vest in full on the earlier of January 21, 2027, or the date of the next NJR Annual Meeting of Shareowners, at which point they will convert into shares of New Jersey Resources Corporation common stock.

Industry Context

The grant of Restricted Stock Units to non-employee directors is a common practice across various industries, particularly in publicly traded companies, to attract and retain qualified board members and align their long-term interests with those of shareholders.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of non-employee director compensation is a widely adopted practice, comparable to compensation structures seen in utility and energy sector peers.
• The vesting schedule, tied to either an anniversary date or the next annual meeting, is also a standard mechanism to ensure continued director engagement and long-term commitment.

Corporate Governance

Related Party Transactions

• The grant of Restricted Stock Units to Director Gregory E. Aliff constitutes a related party transaction, as it involves compensation to a member of the company's board of directors. This is a standard, disclosed transaction under the company's compensation plan.

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's financial interests with long-term shareholder value creation, as the value of the award is tied to the company's stock performance.
• Board of Directors: Provides competitive compensation to attract and retain qualified independent directors, ensuring strong corporate governance.

Next Steps

• The Restricted Stock Units will vest on the earlier of January 21, 2027, or the date of the next NJR Annual Meeting of Shareowners, at which point they will convert to common stock.

Key Dates

Keywords

New Jersey Resources Corp, NJR, Restricted Stock Units, RSU, Director Compensation, Insider Transaction, Form 4, Equity Grant, Corporate Governance