New Jersey Resources Corporation SVP and General Counsel Richard Reich filed a Form 4 on November 13, 2026, disclosing two transactions dated November 10, 2026, covering a restricted stock unit grant and a vested performance share unit award.

Key Highlights

  • RSU grant: Reich acquired 4,118 restricted stock units under the NJR 2026 Stock Award and Incentive Plan at a price of $54.71, vesting in three equal annual installments on October 15, 2027, October 15, 2028, and October 15, 2029.
  • Post-grant direct holdings: Following the RSU grant, Reich directly holds 29,442.483 shares of NJR Common Stock, according to the filing.
  • Indirect holdings: Reich also holds 3,539.3944 shares indirectly through the NJR Employees' Retirement Savings Plan.
  • Performance share units vested: 3,896 phantom stock units were acquired on November 10, 2026, representing performance share units that vested at 142 percent of target, including 422 dividend equivalents, after a 36-month period beginning October 1, 2023.
  • Deferred payout: The vested phantom stock shares have been deferred under NJR's Officers' Deferred Compensation Plan and are to be paid in a lump sum in January 2031.
  • Total phantom stock position: Reich's total directly held phantom stock following the transaction is 6,542.512 units, reflecting a positive adjustment of 26.004 shares representing dividends accrued under NJR's Officers' Deferred Compensation Plan.

Reich's November 2026 Equity Transactions at New Jersey Resources

According to the filing, Richard Reich, SVP and General Counsel of New Jersey Resources Corp (NYSE:NJR), reported two distinct equity events on November 10, 2026. The first was the acquisition of 4,118 restricted stock units under the NJR 2026 Stock Award and Incentive Plan at a price of $54.71 per unit. The filing states that each RSU "represents a contingent right to receive one share of NJR Common Stock" and that the units vest in three equal annual installments on October 15, 2027, October 15, 2028, and October 15, 2029.

The second event involved phantom stock units tied to a performance share award. The filing disclosed that 3,896 phantom stock units were acquired, representing performance share units that "vested at 142 percent of target (plus 422 dividend equivalents), after a 36-month period beginning on October 1, 2023, upon certification by the Leadership Development and Compensation Committee of NJR performance versus the applicable performance goal." The filing further states that these units "have been deferred pursuant to NJR's Officers' Deferred Compensation Plan and are to be paid in a lump sum in January 2031," with each unit being "the economic equivalent of one share of NJR Common Stock."

After both transactions, Reich's directly held common stock position stands at 29,442.483 shares, with an additional 3,539.3944 shares held indirectly through the NJR Employees' Retirement Savings Plan, a plan qualified under Section 401(k) of the Internal Revenue Code of 1986. His total directly held phantom stock position is 6,542.512 units, with the filing noting a positive adjustment of 26.004 shares attributable to dividends accrued under the Officers' Deferred Compensation Plan. The Form 4 was signed by Melissa Abraham as attorney-in-fact for Richard Reich.

What Was Disclosed

The filing disclosed an RSU grant of 4,118 units and a vested performance share unit award of 3,896 phantom stock units to Reich on November 10, 2026, both at $54.71, along with his resulting beneficial ownership positions in common stock and phantom stock.