SEC Form 4 · accession 0000356309-18-000132
NEW JERSEY RESOURCES CORP · NJR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick J. Migliaccio
Officer — Senior VP and CFO
Period of report
Nov 13, 2018
Accepted (ET)
Nov 15, 2018 · 8:47 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000356309
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Nov 13, 2018 | M | 2,478 | $0.00 | A | 22,019 | D | |
| Common StockF2 | Nov 13, 2018 | F | 1,310 | $47.98 | D | 20,709 | D | |
| Common StockF3 | Nov 13, 2018 | M | 2,081 | $0.00 | A | 23,436 | D | |
| Common StockF2 | Nov 13, 2018 | F | 1,344 | $47.98 | D | 22,092 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF4 | — | Nov 13, 2018 | M | 2,478 | D | — | — | Common Stock | 2,478 | 0 | D |
| Performance SharesF5 | — | Nov 13, 2018 | M | 2,081 | D | — | — | Common Stock | 2,081 | 0 | D |
Explanation of responses
- F1Total has been adjusted downward by 25 shares to reflect Performance Shares vesting at 99% of target, plus 205 shares for accrued dividend equivalents upon vesting of the award. Each dividend equivalent converts into 1 share of New Jersey Resources Corporation (NJR) Common Stock upon vesting.
- F2Represents shares withheld to pay taxes due upon vesting of Performance Share awards.
- F3Total has been adjusted upward by 437 shares to reflect performance shares vesting at 121% of target, plus 209 shares for accrued dividend equivalents. Each dividend equivalent converts into 1 share of NJR Common Stock upon vesting.
- F4Represents number of Performance Shares, which vested at 99% of the target (plus accrued dividends) after a 36-month period beginning on October 1, 2015, upon certification by the Leadership Development and Compensation Committee of NJR's performance versus the applicable performance goals. Performance Shares converted 1 for 1 into shares of NJR Common Stock. There is no purchase or sale price upon vesting of the Performance Shares.
- F5Represents number of Performance Shares, which vested at 121% of the target (plus accrued dividends) after a 36-month period beginning on October 1, 2015, upon certification by the Leadership Development and Compensation Committee of NJR's performance versus the applicable performance goals. Performance Shares converted 1 for 1 into shares of NJR Common Stock. There is no purchase or sale price upon vesting of the Performance Shares.