Sec Form 4 Filing - Bel Roberto @ NEW JERSEY RESOURCES CORP - 2025-11-04

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Bel Roberto
2. Issuer Name and Ticker or Trading Symbol
NEW JERSEY RESOURCES CORP [ NJR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
SVP and CFO
(Last) (First) (Middle)
C/O NEW JERSEY RESOURCES CORPORATION, 1415 WYCKOFF ROAD
3. Date of Earliest Transaction (MM/DD/YY)
11/04/2025
(Street)
WALL, NJ07719
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/04/2025 A 5,583 ( 1 ) A $ 44.85 25,885 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock ( 2 ) 11/04/2025 A 2,571 ( 2 ) ( 2 ) Common Stock 2,571 $ 44.85 6,854 D
Phantom Stock ( 2 ) 11/04/2025 F 61 ( 3 ) ( 2 ) ( 2 ) Common Stock 61 $ 44.85 6,793 D
Phantom Stock ( 4 ) 11/04/2025 A 3,802 ( 4 ) ( 4 ) Common Stock 3,802 $ 44.85 10,595 D
Phantom Stock ( 4 ) 11/04/2025 F 90 ( 3 ) ( 4 ) ( 4 ) Common Stock 90 $ 44.85 10,672.875 ( 5 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Bel Roberto
C/O NEW JERSEY RESOURCES CORPORATION
1415 WYCKOFF ROAD
WALL, NJ07719
SVP and CFO
Signatures
/s/Tejal K. Mehta, as attorney-in-fact for Roberto F. Bel 11/06/2025
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents grant of restricted stock units (RSUs) under the New Jersey Resources Corporation (NJR) 2017 Stock Award and Incentive Plan. RSUs vest in three equal annual installments on October 15, 2026, October 15, 2027 and October 15, 2028. Each RSU represents a contingent right to receive one share of NJR Common Stock.
( 2 )The phantom stock represents performance share units, which vested at 97 percent of target (plus 272 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the Leadership Development and Compensation Committee (LDCC) of NJR performance versus the appliable performance goal. These shares have been deferred pursuant to NJR's Officers' Deferred Compensation Plan and are to be paid in four equal annual installments beginning in January 2029. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.
( 3 )Represents shares withheld to pay taxes due upon deferral of performance share unit award.
( 4 )The phantom stock represents performance share units, which vested at 134 percent of target (plus 398 dividend equivalents), after a 36-month period beginning on October 1, 2022, upon certification by the LDCC of NJR performance versus the appliable performance goal. These shares have been deferred pursuant to NJR's Officers' Deferred Compensation Plan and are to be paid in four equal annual installments beginning in January 2029. Each share of phantom stock is the economic equivalent of one share of NJR Common Stock.
( 5 )Total reflects a positive adjustment of 167.875 shares representing investment gains or losses and for dividends accrued under NJR's Officers' Deferred Compensation Plan.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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