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NEW JERSEY RESOURCES CORP·4

Jan 23, 2:42 PM ET

O'Sullivan Michael A 4

Research Summary

AI-generated summary

Updated

NJR Director Michael O'Sullivan Exercises Options, Receives RSUs

What Happened
Michael A. O'Sullivan, a non-employee director of New Jersey Resources Corp (NJR), executed several equity transactions on January 21, 2026. He exercised/converting derivatives to acquire 2,938 shares at $47.97 per share for a cash amount of $140,936. On the same date he was granted 3,022.723 restricted stock units (RSUs) under the Non-Employee Director Compensation Plan, and reported conversion/settlement activity of 2,824.859 derivative shares (reported as disposed at $0).

Key Details

  • Transaction date: January 21, 2026; Form 4 filed January 23, 2026 (appears timely).
  • Exercise: 2,938 shares acquired at $47.97 each; total cash paid $140,936.
  • Award: 3,022.723 RSUs granted (reported as derivative award, $0 purchase price).
  • Conversion/Disposition: 2,824.859 derivative shares reported as disposed at $0 (related to RSU conversion/settlement per footnotes).
  • Footnotes summary:
    • F1: Total includes 112.968 dividend equivalents on RSUs plus a fractional share rounding.
    • F2/F4: Each RSU is a contingent right to one NJR share plus dividend equivalents (annual director retainer).
    • F3: New RSU award vests on the earlier of one-year anniversary or the next annual meeting.
    • F5: Represents 100% vesting of RSUs granted Jan 21, 2025; those RSUs converted one-for-one into shares (explains conversion/disposition activity).
  • Shares owned after the transactions: not specified in the provided filing excerpt.

Context

  • The activity includes an option/derivative exercise (M) and director compensation in the form of RSUs (A). RSU grants and vesting for directors are routine compensation and don’t by themselves indicate trading intent.
  • The reported disposal of derivative shares at $0 appears tied to RSU vesting/conversion and associated settlement mechanics (per footnotes); such entries can reflect conversions or tax/settlement actions rather than open-market sales.
  • This filing documents standard director compensation and equity conversion activity rather than an open-market buy or sale.