Yardley William T. 4

What Happened
William T. Yardley, a director of New Jersey Resources Corporation (NJR), exercised stock derivatives and received a new RSU award on Jan 21, 2026. He exercised/converted derivatives to acquire 1,535 shares at $47.97 per share (total cash paid $73,634). The filing also shows a grant of 3,022.723 restricted stock units (RSUs) and the conversion/disposition of 1,504.306 derivative shares in connection with prior RSUs vesting.

Key Details

• Transaction date(s): January 21, 2026 (reported in Form 4 filed Jan 23, 2026).
• Option exercise: 1,535 shares acquired at $47.97 each, total $73,634. (Code M)
• RSU grant: 3,022.723 RSUs granted (code A); each RSU represents a contingent right to one share plus dividend equivalents.
• Conversion/disposition: 1,504.306 derivative shares shown as disposed at $0.00 (code M); footnote F5 indicates these represent 100% vesting of RSUs granted July 1, 2025, converted one-for-one into shares.
• Footnotes: F1 notes 30.85 dividend equivalents and fractional rounding; F2–F4 describe the RSU retainer and vesting mechanics; F3 states the award vests on the earlier of one year or the next annual meeting.
• Shares owned after transaction: not specified in the filing.
• Timeliness: Filed promptly (transaction date Jan 21; Form 4 filed Jan 23).

Context

• The exercise (M) is an insider converting a derivative right into shares — here, Yardley paid cash to acquire 1,535 shares. This is a purchase-like action (cash outlay) rather than a sale.
• The RSU grant is a standard director compensation award (non-cash, contingent right to receive shares later); conversions shown reflect vesting mechanics rather than open‑market sales.
• No evidence in this filing of an open-market sale or a 10b5-1 plan; the actions appear to be routine compensation vesting and option exercise.