Form 4: NJR Director Converts Deferred Stock Units

Sharon C. Taylor, a director at New Jersey Resources Corp., converted deferred phantom stock units into common stock as part of her compensation plan.

Summary

• Sharon C. Taylor, a director at New Jersey Resources Corp. (NJR), acquired 1,548 shares of NJR Common Stock.
• This transaction occurred on January 5, 2026, at a price of $45.74 per share.
• The acquisition represents the third and final distribution of phantom stock units from her 2019 director fees, deferred under the NJR Directors' Deferred Compensation Plan.
• The 1,548 shares include 341 shares attributed to accrued dividends.
• Concurrently, 1,207.057 phantom stock units were disposed of, resulting in a zero balance of phantom stock units for this specific deferred compensation.
• Following the transaction, Ms. Taylor directly beneficially owns 34,819.147 shares of NJR Common Stock, adjusted for 0.191 accrued dividends under the NJR Dividend and Reinvestment Plan.

Sentiment

Score: 6

Explanation: The filing details a routine, pre-scheduled conversion of deferred director compensation into common stock, which is a neutral event. The slight positive sentiment comes from the director increasing direct beneficial ownership, aligning interests with shareholders.

Positives

• Director Sharon C. Taylor increased her direct beneficial ownership of New Jersey Resources Corp. common stock by 1,548 shares.
• The conversion of phantom stock units into common stock aligns the director's interests more closely with those of shareholders.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• NA

Industry Context

This Form 4 filing details a routine insider transaction related to director compensation, specifically the vesting and conversion of deferred equity. Such transactions are common across industries where executive and director compensation packages include equity-based incentives, aiming to align leadership interests with long-term company performance.

Comparison to Industry Standards

• The use of phantom stock units and deferred compensation plans for directors is a common practice in publicly traded companies, aligning with industry standards for corporate governance and executive compensation. This structure incentivizes long-term commitment and performance by linking director remuneration to the company's stock performance.

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• The transaction involves a director (Sharon C. Taylor) receiving common stock from the company as part of a pre-existing deferred compensation plan for director fees.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholder value through direct stock ownership.

Next Steps

• NA

Key Dates

Keywords

NJR, New Jersey Resources, Sharon C. Taylor, Director, Common Stock, Phantom Stock Units, Deferred Compensation, Insider Transaction, Form 4