NJ Resources Corp. Reports Director Changes and Officer Compensation Adjustments
Ticker: NJR · Form: 8-K · Filed: Nov 6, 2025 · CIK: 356309
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: NJR
TL;DR
NJ Resources Corp. shakes up board, adjusts exec pay - watch for details.
AI Summary
New Jersey Resources Corp. announced on November 4, 2025, changes related to its board of directors and executive compensation. The filing details the departure of a director, the election of a new director, and adjustments to compensatory arrangements for certain officers. Specific details regarding the individuals involved and the financial implications of these compensatory arrangements are outlined within the report.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns corporate governance and executive compensation, which typically carry lower immediate risk compared to financial distress or major operational changes.
Key Players & Entities
- NEW JERSEY RESOURCES CORP (company) — Registrant
- November 4, 2025 (date) — Date of earliest event reported
- 1415 Wyckoff Road (address) — Principal executive offices
- Wall, New Jersey 07719 (address) — Principal executive offices location
- 732-938-1480 (phone_number) — Registrant's telephone number
FAQ
Who is the departing director and who is the newly elected director?
The filing indicates the departure of a director and the election of a new director, but specific names are not provided in the initial summary of the 8-K.
What specific changes were made to the compensatory arrangements for certain officers?
The filing states that there were adjustments to compensatory arrangements for certain officers, but the exact nature and financial details of these adjustments are not detailed in the provided summary.
What is the primary reason for these board and compensation changes?
The filing does not explicitly state the primary reason for these changes, but they fall under the categories of director departures, elections, and officer compensation.
When did the earliest event reported in this 8-K filing occur?
The earliest event reported in this 8-K filing occurred on November 4, 2025.
What is the Standard Industrial Classification (SIC) code for New Jersey Resources Corp.?
The Standard Industrial Classification (SIC) code for New Jersey Resources Corp. is 4924, which corresponds to Natural Gas Distribution.
Filing Stats: 1,718 words · 7 min read · ~6 pages · Grade level 14.9 · Accepted 2025-11-06 16:31:03
Key Financial Figures
- $2.50 — ge on which registered Common Stock - $2.50 par value NJR New York Stock Exchan
Filing Documents
- ef20058025_8k.htm (8-K) — 41KB
- ef20058025_ex10-1.htm (EX-10.1) — 96KB
- ef20058025_ex10-2.htm (EX-10.2) — 87KB
- ef20058025_ex10-3.htm (EX-10.3) — 75KB
- ef20058025_ex10-4.htm (EX-10.4) — 76KB
- image01.jpg (GRAPHIC) — 4KB
- 0001140361-25-040794.txt ( ) — 596KB
- njr-20251104.xsd (EX-101.SCH) — 4KB
- njr-20251104_lab.xml (EX-101.LAB) — 21KB
- njr-20251104_pre.xml (EX-101.PRE) — 16KB
- ef20058025_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) Fiscal 2026 Officer Annual Incentive Plan On November 4, 2025, the Leadership Development and Compensation Committee (the "LDCC") of the Board of Directors (the "Board") of the Company approved several items relating to compensatory arrangements with its named executive officers ("NEOs"). The details of these approvals are outlined below. On November 4, 2025, the LDCC approved the Company's fiscal year 2026 Officer Annual Incentive Plan (the "2026 OIP") for officers of the Company and its subsidiaries. For fiscal year 2026, each of the Company's NEOs participate in the 2026 OIP. The objectives for the 2026 OIP are to maintain line of sight for each executive officer by providing them with an understanding of their individual objectives and how such objectives could be achieved based on areas that they impact, continue the linkage to corporate results and provide flexibility to determine awards based on qualitative performance assessments. The performance criteria for receiving an annual incentive award under the 2026 OIP are net financial earnings ("NFE"), individual leadership and the Company's "Commitment to Stakeholders" goals. Under the 2026 OIP, a performance hurdle based on the Company's NFE for fiscal year 2026 must be met in order to be eligible to receive an award. Each of the NEO's annual incentive awards under the 2026 OIP is based 50 percent on the Company's NFE, 30 percent on the NEO achieving an individual leadership component and 20 percent on the Company meeting the goals of an overall "Commitment to Stakeholders" component. Under the 2026 OIP, the target annual incentive award opportunity for the NEOs, other than the President and Chief Executive Officer, ranges from 40 to 60 percent of base salary and the target annual incentive award opportunity for the President and Chief Executiv
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 FY 2026 Performance Share Units Agreement – (TSR) 10.2 FY 2026 Performance Share Units Agreement (NFE) 10.3 FY 2026 Restricted Stock Units Agreement 10.4 FY 2026 Performance-Based Restricted Stock Units Agreement 104 Cover page in Inline XBRL format. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NEW JERSEY RESOURCES CORPORATION Date: November 6, 2025 By: /s/ Roberto F. Bel Roberto F. Bel Senior Vice President and Chief Financial Officer