Stephen D. Westhoven, President and CEO of New Jersey Resources Corp, filed a Form 4 on November 13, 2026, reporting four transactions in New Jersey Resources common stock that occurred on November 10, 2026, covering the vesting of two separate performance-based equity awards and related tax withholding.

Key Highlights

  • First award vesting: 14,500 shares were acquired on November 10, 2026, representing the first tranche of performance-based restricted stock units originally granted November 4, 2025, plus 526 accrued dividend equivalents, at a price of $54.71 per share.
  • Second award vesting: 29,921 shares were acquired on November 10, 2026, representing performance share units that vested at 142 percent of target, plus 3,224 dividend equivalents, following a 36-month period beginning October 1, 2023.
  • Tax withholding: A total of 22,722 shares were withheld to cover taxes: 7,417 shares related to the first tranche and 15,305 shares related to the performance share units, all at $54.71 per share.
  • Remaining beneficial ownership: Following all four transactions, Westhoven directly beneficially owned 283,019.317 shares of common stock, according to the filing.
  • LDCC certification: Both awards were certified by the Leadership Development and Compensation Committee of New Jersey Resources Corporation prior to vesting.
  • Remaining tranches: The second and third tranches of the November 4, 2025 performance-based restricted stock unit grant are scheduled to vest on September 30, 2027 and September 30, 2028, respectively, according to the filing.

Westhoven's November 10 Performance Award Transactions at New Jersey Resources

According to the Form 4 filed with the SEC on November 13, 2026, Westhoven, who serves as both a director and President and CEO of New Jersey Resources Corp (NYSE:NJR), reported four separate transactions in the company's common stock, all dated November 10, 2026. The transactions involved two distinct performance-based equity programs and associated tax-withholding events.

The first set of transactions relates to performance-based restricted stock units previously granted on November 4, 2025. The filing states that the first tranche, consisting of 14,500 shares including 526 accrued dividend equivalents, vested because "the applicable goal has been satisfied by New Jersey Resources Corporation (NJR) and certified by the Leadership Development and Compensation Committee (LDCC)." Each unit and dividend equivalent converts into one share of NJR common stock upon vesting. Following that acquisition, 7,417 shares were withheld at $54.71 to satisfy taxes.

The second set of transactions involves performance share units covering a 36-month period beginning October 1, 2023. According to the filing, these units vested at "142 percent of target (plus 3,224 dividend equivalents)" following LDCC certification of NJR's performance versus the applicable goal, resulting in an acquisition of 29,921 shares at $54.71. An additional 15,305 shares were withheld for taxes, also at $54.71. After all four transactions, the filing reports Westhoven's direct beneficial ownership at 283,019.317 shares.

What Was Disclosed

The filing disclosed four transactions by NJR's President and CEO on November 10, 2026: two share acquisitions through vesting performance awards totaling 44,421 shares and two tax-withholding disposals totaling 22,722 shares, all at $54.71 per share, leaving direct ownership of 283,019.317 shares.