NJR · New Jersey Resources Corp
$55.60
+0.06 (+0.11%)
At close · Aug 14
Market Cap
$5.64B
Shares
101.47M
Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.
Fiscal 2025
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Chief Executive Officer | $6,433,253 |
| Patrick Migliaccio | Senior Vice President and Chief Operating Officer, NJNG | $1,554,366 |
| Roberto Bel | Senior Vice President and Chief Financial Officer | $1,311,468 |
| Amy Cradic | Senior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External Affairs | $1,306,254 |
| Richard Reich | Senior Vice President and General Counsel | $1,232,925 |
Fiscal 2024
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Chief Executive Officer | $7,208,109 |
| Patrick Migliaccio | Senior Vice President and Chief Operating Officer, NJNG | $1,844,764 |
| Richard Reich | Senior Vice President and General Counsel | $1,385,406 |
| Amy Cradic | Senior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External Affairs | $1,355,715 |
| Roberto Bel | Senior Vice President and Chief Financial Officer | $1,282,175 |
Fiscal 2023
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Chief Executive Officer | $5,783,114 |
| Patrick Migliaccio | Senior Vice President and Chief Operating Officer, NJNG | $1,567,093 |
| Amy Cradic | Senior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External Affairs | $1,299,407 |
| LORI DELGIUDICE | Senior Vice President, Human Resources | $1,283,652 |
| Roberto Bel | Senior Vice President and Chief Financial Officer | $1,186,882 |
| Richard Reich | Senior Vice President and General Counsel | $1,103,573 |
Fiscal 2022
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Chief Executive Officer | $4,612,774 |
| Patrick Migliaccio | Senior Vice President and Chief Operating Officer, NJNG | $1,527,520 |
| Amy Cradic | Senior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External Affairs | $1,344,744 |
| Timothy F. Shea | Former Vice President, NJRES Salary amounts include cash compensation earned by each named executive officer during fiscal years 2022, 2021 and 2020, as applicable, as well as any amounts earned in fiscal years 2022, 2021 and 2020, but contributed under our 401(k) Plan. The amounts included are the grant date fair value of the stock awards granted in fiscal years 2022, 2021 and 2020, determined under share-based compensation accounting guidance in accordance with FASB ASC Topic 718. There were no options granted to the named executive officers in fiscal years 2022, 2021 and 2020. These amounts reflect the aggregate grant date fair value for these awards. For the FY 2022 TSR Performance Share Unit awards and the FY 2022 NFE Performance Share Unit awards granted in fiscal year 2022 to the named executive officers pursuant to the 2017 Plan that are subject to performance conditions, the values in the Summary Compensation Table above reflect the probable outcome of such performance conditions. The grant date fair values of the FY 2022 NFE Performance Share Unit awards, assuming the highest level of performance conditions for each of the named executive officers, are: Mr. Westhoven: 843,722; Mr. Bel: 83,546; Mr. Migliaccio: 245,042; Ms. Cradic: 217,776; and Mr. Reich: 118,152. With respect to the FY 2022 TSR Performance Share Units, the maximum amount that could be earned based upon the grant date fair value for each of the named executive officers is Mr. Westhoven: 850,712; Mr. Bel: 84,243; Mr. Migliaccio: 247,023; Ms. Cradic: 219,582; and Mr. Reich: 119,084. The amounts in this column include the grant date fair value of PBRS granted to Mr. Westhoven in fiscal year 2022 in the amount of 1,125,001. Assumptions used in the calculation of the foregoing award amounts are included in Note 10 to each of the consolidated financial statements included in our Annual Reports on Form 10-K for the fiscal years ended September 30, 2022, 2021, and 2020 and incorporated by reference into this Proxy Statement. Information on individual equity awards granted to the named executive officers in fiscal year 2022 is set forth in the section entitled “Grants of Plan-Based Awards.” Information on the vesting of restricted stock and deferred stock retention units in fiscal year 2022 is set forth in the section entitled “Stock Vested.” For fiscal year 2021, the amount includes a special bonus that was given to all employees in recognition of their continued hard work and dedication during the COVID-19 pandemic. | $1,304,975 |
| Richard Reich | Senior Vice President and General Counsel | $1,113,875 |
| Roberto Bel | Senior Vice President and Chief Financial Officer | $1,020,773 |
Fiscal 2021
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Chief Executive Officer | $4,783,459 |
| Timothy F. Shea | Former Vice President, NJRES Salary amounts include cash compensation earned by each named executive officer during fiscal years 2022, 2021 and 2020, as applicable, as well as any amounts earned in fiscal years 2022, 2021 and 2020, but contributed under our 401(k) Plan. The amounts included are the grant date fair value of the stock awards granted in fiscal years 2022, 2021 and 2020, determined under share-based compensation accounting guidance in accordance with FASB ASC Topic 718. There were no options granted to the named executive officers in fiscal years 2022, 2021 and 2020. These amounts reflect the aggregate grant date fair value for these awards. For the FY 2022 TSR Performance Share Unit awards and the FY 2022 NFE Performance Share Unit awards granted in fiscal year 2022 to the named executive officers pursuant to the 2017 Plan that are subject to performance conditions, the values in the Summary Compensation Table above reflect the probable outcome of such performance conditions. The grant date fair values of the FY 2022 NFE Performance Share Unit awards, assuming the highest level of performance conditions for each of the named executive officers, are: Mr. Westhoven: 843,722; Mr. Bel: 83,546; Mr. Migliaccio: 245,042; Ms. Cradic: 217,776; and Mr. Reich: 118,152. With respect to the FY 2022 TSR Performance Share Units, the maximum amount that could be earned based upon the grant date fair value for each of the named executive officers is Mr. Westhoven: 850,712; Mr. Bel: 84,243; Mr. Migliaccio: 247,023; Ms. Cradic: 219,582; and Mr. Reich: 119,084. The amounts in this column include the grant date fair value of PBRS granted to Mr. Westhoven in fiscal year 2022 in the amount of 1,125,001. Assumptions used in the calculation of the foregoing award amounts are included in Note 10 to each of the consolidated financial statements included in our Annual Reports on Form 10-K for the fiscal years ended September 30, 2022, 2021, and 2020 and incorporated by reference into this Proxy Statement. Information on individual equity awards granted to the named executive officers in fiscal year 2022 is set forth in the section entitled “Grants of Plan-Based Awards.” Information on the vesting of restricted stock and deferred stock retention units in fiscal year 2022 is set forth in the section entitled “Stock Vested.” For fiscal year 2021, the amount includes a special bonus that was given to all employees in recognition of their continued hard work and dedication during the COVID-19 pandemic. | $1,585,398 |
| Patrick Migliaccio | Senior Vice President and Chief Operating Officer, NJNG | $1,526,780 |
| Nancy A. Washington | Former Senior Vice President and General Counsel Salary amounts include cash compensation earned by each named executive officer during fiscal years 2021, 2020 and 2019, as applicable, as well as any amounts earned in fiscal years 2021, 2020 and 2019, but contributed under our 401(k) Plan. The amounts included are the grant date fair value of the stock awards granted in fiscal years 2021, 2020 and 2019, determined under share-based compensation accounting guidance in accordance with FASB ASC Topic 718. There were no options granted to the named executive officers in fiscal years 2021, 2020 and 2019. These amounts reflect the aggregate grant date fair value for these awards. For the FY 2021 TSR Performance Share Unit awards and the FY 2021 NFE Performance Share Unit awards granted in fiscal year 2021 to the named executive officers pursuant to the 2017 Plan that are subject to performance conditions, the values in the Summary Compensation Table above reflect the probable outcome of such performance conditions. The grant date fair values of the FY 2021 NFE Performance Share Unit awards, assuming the highest level of performance conditions for each of the named executive officers, are: Mr. Westhoven: 649,680; Mr. Migliaccio: 200,640; Ms. Cradic: 150,730; Ms. Mullan: 111,372; and Ms. Washington: 126,575. With respect to the FY 2021 TSR Performance Share Units, the maximum amount that could be earned based upon the grant date fair value for each of the named executive officers is Mr. Westhoven: 785,232; Mr. Migliaccio: 242,474;, Ms. Cradic: 182,212; Ms. Mullan: 134,606; and Ms. Washington: 152,964. The amounts in this column include the grant date fair value of PBRS granted to Mr. Westhoven in fiscal year 2021 in the amount of 866,240. Assumptions used in the calculation of the foregoing award amounts are included in Note 10, Note 10 and Note 10 to the consolidated financial statements included in our Annual Reports on Form 10-K for the fiscal years ended September 30, 2021, 2020, and 2019, respectively, and incorporated by reference into this Proxy Statement. Information on individual equity awards granted to the named executive officers in fiscal year 2021 is set forth in the section entitled “Grants of Plan-Based Awards.” Information on the vesting of restricted stock and deferred retention stock units in fiscal year 2020 is set forth in the section entitled “Stock Vested.” For fiscal year 2021, the amount includes a special bonus that was given to all employees in recognition of their continued hard work and dedication during the COVID-19 pandemic. | $1,370,368 |
| Amy Cradic | Senior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External Affairs | $1,112,514 |
| Amanda E. Mullan | Senior Vice President and Chief Human Resources Officer | $939,532 |
Fiscal 2020
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Chief Executive Officer | $4,170,677 |
| Patrick Migliaccio | Senior Vice President and Chief Operating Officer, NJNG, Former Chief Financial Officer | $1,402,101 |
| Nancy A. Washington | Former Senior Vice President and General Counsel Salary amounts include cash compensation earned by each named executive officer during fiscal years 2021, 2020 and 2019, as applicable, as well as any amounts earned in fiscal years 2021, 2020 and 2019, but contributed under our 401(k) Plan. The amounts included are the grant date fair value of the stock awards granted in fiscal years 2021, 2020 and 2019, determined under share-based compensation accounting guidance in accordance with FASB ASC Topic 718. There were no options granted to the named executive officers in fiscal years 2021, 2020 and 2019. These amounts reflect the aggregate grant date fair value for these awards. For the FY 2021 TSR Performance Share Unit awards and the FY 2021 NFE Performance Share Unit awards granted in fiscal year 2021 to the named executive officers pursuant to the 2017 Plan that are subject to performance conditions, the values in the Summary Compensation Table above reflect the probable outcome of such performance conditions. The grant date fair values of the FY 2021 NFE Performance Share Unit awards, assuming the highest level of performance conditions for each of the named executive officers, are: Mr. Westhoven: 649,680; Mr. Migliaccio: 200,640; Ms. Cradic: 150,730; Ms. Mullan: 111,372; and Ms. Washington: 126,575. With respect to the FY 2021 TSR Performance Share Units, the maximum amount that could be earned based upon the grant date fair value for each of the named executive officers is Mr. Westhoven: 785,232; Mr. Migliaccio: 242,474;, Ms. Cradic: 182,212; Ms. Mullan: 134,606; and Ms. Washington: 152,964. The amounts in this column include the grant date fair value of PBRS granted to Mr. Westhoven in fiscal year 2021 in the amount of 866,240. Assumptions used in the calculation of the foregoing award amounts are included in Note 10, Note 10 and Note 10 to the consolidated financial statements included in our Annual Reports on Form 10-K for the fiscal years ended September 30, 2021, 2020, and 2019, respectively, and incorporated by reference into this Proxy Statement. Information on individual equity awards granted to the named executive officers in fiscal year 2021 is set forth in the section entitled “Grants of Plan-Based Awards.” Information on the vesting of restricted stock and deferred retention stock units in fiscal year 2020 is set forth in the section entitled “Stock Vested.” For fiscal year 2021, the amount includes a special bonus that was given to all employees in recognition of their continued hard work and dedication during the COVID-19 pandemic. | $961,089 |
| Amanda E. Mullan | Senior Vice President and Chief Human Resources Officer | $881,534 |
| Amy Cradic | Senior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External Affairs | $841,423 |
Fiscal 2019
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Chief Executive Officer | $2,781,152 |
| Patrick Migliaccio | Senior Vice President and Chief Financial Officer | $1,497,251 |
| Nancy A. Washington | Former Senior Vice President and General Counsel Salary amounts include cash compensation earned by each named executive officer during fiscal years 2021, 2020 and 2019, as applicable, as well as any amounts earned in fiscal years 2021, 2020 and 2019, but contributed under our 401(k) Plan. The amounts included are the grant date fair value of the stock awards granted in fiscal years 2021, 2020 and 2019, determined under share-based compensation accounting guidance in accordance with FASB ASC Topic 718. There were no options granted to the named executive officers in fiscal years 2021, 2020 and 2019. These amounts reflect the aggregate grant date fair value for these awards. For the FY 2021 TSR Performance Share Unit awards and the FY 2021 NFE Performance Share Unit awards granted in fiscal year 2021 to the named executive officers pursuant to the 2017 Plan that are subject to performance conditions, the values in the Summary Compensation Table above reflect the probable outcome of such performance conditions. The grant date fair values of the FY 2021 NFE Performance Share Unit awards, assuming the highest level of performance conditions for each of the named executive officers, are: Mr. Westhoven: 649,680; Mr. Migliaccio: 200,640; Ms. Cradic: 150,730; Ms. Mullan: 111,372; and Ms. Washington: 126,575. With respect to the FY 2021 TSR Performance Share Units, the maximum amount that could be earned based upon the grant date fair value for each of the named executive officers is Mr. Westhoven: 785,232; Mr. Migliaccio: 242,474;, Ms. Cradic: 182,212; Ms. Mullan: 134,606; and Ms. Washington: 152,964. The amounts in this column include the grant date fair value of PBRS granted to Mr. Westhoven in fiscal year 2021 in the amount of 866,240. Assumptions used in the calculation of the foregoing award amounts are included in Note 10, Note 10 and Note 10 to the consolidated financial statements included in our Annual Reports on Form 10-K for the fiscal years ended September 30, 2021, 2020, and 2019, respectively, and incorporated by reference into this Proxy Statement. Information on individual equity awards granted to the named executive officers in fiscal year 2021 is set forth in the section entitled “Grants of Plan-Based Awards.” Information on the vesting of restricted stock and deferred retention stock units in fiscal year 2020 is set forth in the section entitled “Stock Vested.” For fiscal year 2021, the amount includes a special bonus that was given to all employees in recognition of their continued hard work and dedication during the COVID-19 pandemic. | $1,166,607 |
| Amanda E. Mullan | Senior Vice President and Chief Human Resources Officer | $1,103,411 |
Fiscal 2018
| Executive | Role | Total |
|---|---|---|
| Stephen Westhoven | President and Current Chief Executive Officer | $1,612,932 |
| Patrick Migliaccio | Senior Vice President and Chief Financial Officer | $1,112,553 |
| Amanda E. Mullan | Senior Vice President and Chief Human Resources Officer | $965,371 |
| Nancy A. Washington | Senior Vice President and General Counsel | $851,870 |
Executive changes
| Person | Role | Change | Filed |
|---|---|---|---|
| Christoper D'Antuono | Principal Accounting Officer | Appointed | 2026-01-23 |
| Amy B. Mansue | director | Appointed | 2025-09-11 |
| William T. Yardley | director | Appointed | 2025-04-21 |
| Peter C. Harvey | director | Appointed | 2023-10-31 |
| Jacqueline K. Shea | Senior Vice President and Chief Information Officer | Appointed | 2022-12-23 |
| Stephen Skrocki | Principal Accounting Officer | Appointed | 2022-12-23 |
| Robert B. Evans | director | Retired | 2022-10-31 |
| David A. Trice | director | Retired | 2022-10-31 |
| Michael O'Sullivan | director | Appointed | 2022-10-31 |
| Amanda E. Mullan | Senior Vice President and Chief Human Resources Officer | Resigned | 2022-06-13 |
Key facts
CIK
356309
CUSIP
646025106
13F (30d)
403 filings
400 filers
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