Form 4: NJR Executive Sells Shares Under 10b5-1 Plan

Richard Reich, SVP and General Counsel of New Jersey Resources Corp, sold 5,449 shares of common stock for $52.99 per share under a pre-arranged trading plan.

Summary

• Richard Reich, SVP and General Counsel of New Jersey Resources Corp (NJR), sold 5,449 shares of the company's common stock.
• The transaction occurred on March 19, 2026, at a weighted average price of $52.99 per share, with prices ranging from $52.95 to $53.03.
• The sale was executed pursuant to a Rule 10b5-1 trading plan, which was established on December 12, 2025.
• Following the reported transaction, Reich directly beneficially owns 26,974.789 shares.
• Reich also indirectly beneficially owns 3,445.5072 shares through the NJR Employees' Retirement Savings Plan.
• The direct ownership amount was adjusted for 241.952 shares accrued through dividend reinvestment and one additional share from a prior rounding adjustment.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event because the sale was pre-arranged under a 10b5-1 plan, which mitigates the immediate negative signal often associated with insider selling, indicating a planned financial move rather than a reaction to new information.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned transaction rather than an immediate reaction to new, non-public information.

Negatives

• An insider, the SVP and General Counsel, reduced their direct holdings by selling 5,449 shares of common stock.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that insider transactions, particularly sales, are routinely monitored by investors for insights into management's perception of the company's valuation. While this sale was pre-planned under a 10b5-1 plan, common in executive compensation and personal financial planning, it still represents a reduction in direct insider holdings in the utility sector.

Comparison to Industry Standards

• Insider selling under a Rule 10b5-1 plan is a standard practice for executives to manage their equity holdings while complying with insider trading regulations.
• This mechanism is commonly used across various industries, including utilities, for executives to diversify personal portfolios or meet liquidity needs without necessarily signaling a specific view on the company's immediate prospects.
• No specific comparable companies, projects, or results are mentioned in the filing for direct comparison.

Stakeholder Impact

• Shareholders: May interpret the insider sale differently; some may view it as a routine diversification, others as a potential negative signal, despite the 10b5-1 plan.

Key Dates

Recommendation

The filing reports a routine insider sale under a pre-arranged 10b5-1 plan, which is a common practice for executives. While it represents a reduction in direct insider holdings, the pre-planned nature suggests it is not based on new, adverse material information. Therefore, it does not provide a strong basis for a 'buy' or 'sell' recommendation, warranting a 'hold' as other fundamental factors would drive investment decisions.

Keywords

New Jersey Resources Corp, NJR, Richard Reich, Insider Sale, Form 4, 10b5-1 Plan, Common Stock, Executive Transaction