Form 4: NJR Director Amy Mansue Reports Stock Transactions

New Jersey Resources Director Amy Mansue reported the acquisition of common stock and restricted stock units, alongside the vesting of previously granted RSUs.

Summary

• Amy B. Mansue, a Director of New Jersey Resources Corporation (NJR), reported transactions on January 21, 2026.
• Acquired 512 shares of NJR Common Stock at a price of $47.97 per share, which includes 5.282 dividend equivalents accrued on Restricted Stock Units (RSUs) and a fractional share for rounding.
• Received an annual RSU retainer of 3,022.723 Restricted Stock Units (RSUs) under the Non-Employee Director Compensation Plan.
• 511.254 Restricted Stock Units (RSUs) granted on November 3, 2025, vested 100% and converted into an equal number of NJR common stock shares.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to director compensation, including RSU grants and vesting, which are standard for executive remuneration and do not indicate significant positive or negative operational performance.

Positives

• Director Amy B. Mansue received an annual RSU retainer, aligning her interests with shareholders.
• Vesting of previously granted RSUs indicates a successful completion of the vesting period for a portion of director compensation.

Future Outlook

The 3,022.723 Restricted Stock Units granted to Director Mansue are scheduled to vest in full on the earlier of the first anniversary of the grant date (January 21, 2027) or the date of the next NJR Annual Meeting of Shareowners.

Industry Context

This filing represents a routine insider transaction related to director compensation within the utilities sector, where equity-based compensation is a common practice to align management and director interests with long-term shareholder value.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as part of non-employee director compensation is a standard practice across many publicly traded companies, including those in the energy and utility sectors, such as Consolidated Edison (ED) or Public Service Enterprise Group (PEG).
• The vesting schedule for RSUs, often tied to a one-year anniversary or the next annual meeting, is typical for director retainers, ensuring continued engagement and alignment.

Corporate Governance

Stakeholder Impact

• Shareholders: Director's equity holdings increase, potentially strengthening alignment of interests.
• Employees: No direct impact mentioned.

Next Steps

• The 3,022.723 Restricted Stock Units will vest on the earlier of January 21, 2027, or the date of the next NJR Annual Meeting of Shareowners.

Key Dates

Keywords

New Jersey Resources, NJR, Form 4, Insider Transaction, Restricted Stock Units, Common Stock, Director Compensation, Equity Grant, Stock Vesting