Form 4: NJR Director Reports Routine Stock Transactions

New Jersey Resources Director James H. DeGraffenreidt Jr. reported acquiring common stock and restricted stock units, reflecting compensation and vesting events.

Summary

• Director James H. DeGraffenreidt Jr. reported transactions on January 21, 2026, involving New Jersey Resources Corporation (NJR) securities.
• Acquired 2,938 shares of Common Stock at a price of $47.97 per share, resulting from the conversion of Restricted Stock Units (RSUs).
• Received an annual RSU retainer of 3,022.723 RSUs, which represent a contingent right to receive one share of NJR common stock plus dividend equivalents.
• The newly granted RSU award will vest in full on the earlier of January 21, 2027 (the first anniversary of the grant date) or the date of the next NJR Annual Meeting of Shareowners.
• Disposed of 2,824.859 RSUs due to 100% vesting of an award granted on January 21, 2025, which converted one-for-one into shares of NJR common stock.
• Following these reported transactions, beneficial ownership of Common Stock stands at 23,042 shares.

Sentiment

Score: 7

Explanation: The filing reports routine director compensation and equity transactions, indicating standard corporate governance practices and continued director alignment with shareholder interests through equity ownership. This is a neutral to slightly positive event as it reflects normal operations.

Positives

• Director James H. DeGraffenreidt Jr. received an annual RSU retainer of 3,022.723 units, aligning his interests with shareholders through equity compensation.
• The vesting of 2,824.859 RSUs and subsequent conversion to common stock demonstrates the successful execution of the Non-Employee Director Compensation Plan.

Future Outlook

The newly granted Restricted Stock Units (RSUs) are set to vest in full on the earlier of January 21, 2027 (the first anniversary of the grant date) or the date of the next NJR Annual Meeting of Shareowners.

Industry Context

This Form 4 filing reflects routine equity compensation for a non-employee director, a common practice across publicly traded companies to align 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 widely adopted practice across various industries, including utilities, aligning director incentives with company performance and shareholder returns.
• This structure is comparable to compensation plans at peer companies within the utility sector, ensuring competitive director remuneration and governance alignment.

Corporate Governance

Stakeholder Impact

• Shareholders benefit from the continued alignment of director interests with the company's long-term performance through equity compensation, which incentivizes sound governance and strategic decisions.

Next Steps

• The newly granted Restricted Stock Units (RSUs) will vest on the earlier of January 21, 2027, or the date of the next NJR Annual Meeting of Shareowners.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to director compensation, specifically the vesting of Restricted Stock Units and the grant of new units. It does not contain any new material information regarding the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transactions are expected and reflect standard corporate governance practices for non-employee directors.

Keywords

NJR, New Jersey Resources, Form 4, Insider Trading, Director Compensation, Restricted Stock Units, Common Stock, Equity Compensation