NEW JERSEY RESOURCES CORPORATION (NYSE:NJR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 11, 2017, the Board of Directors (the “Board”) of New Jersey Resources Corporation (the “Company”) increased the size of the Board from eleven to twelve directors and elected Maureen A. Borkowski as a director, effective September 11, 2017. Ms. Borkowski’s term as a director will expire at the Company’s Annual Meeting of Shareowners in January 2018. The committees of the Board to which Ms. Borkowski will be named have not been determined at this time. Ms. Borkowski will join the Board of New Jersey Natural Gas Company, a wholly-owned subsidiary of the Company.
In connection with Ms. Borkowski’s election to the Board, she will receive cash and equity compensation consistent with the Company’s Non-Employee Director Compensation Plan, as amended (the “Plan”). A description of the Plan can be found in Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on November 18, 2016, and is incorporated herein by reference. Other than this standard compensation arrangement, there are no arrangements or understandings between Ms. Borkowski and any other person to which Ms. Borkowski was elected as a director.
Ms. Borkowski is not a party to a transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
The Company’s press release, dated July 17, 2017, announcing the election of Ms. Borkowski is attached hereto as Exhibit 99.1 and is incorporated by reference into Item 7.01 of this Current Report on Form 8-K.
The information in Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section and shall not be deemed to be incorporated by reference into any registration statement or other document to the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
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Exhibit Number |
Description |
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10.1 |
Summary of New Jersey Resources Corporation Non-Employee Director Compensation (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed on November 18, 2016) |
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99.1 |
Press Release dated July 17, 2017 (furnished, not filed) |
NEW JERSEY RESOURCES CORP ExhibitEX-99.1 2 directormaureenborkowski.htm EXHIBIT 99.1 – PRESS RELEASE directormaureenborkowski
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Date: July 17,…To view the full exhibit click here
About NEW JERSEY RESOURCES CORPORATION (NYSE:NJR)
New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream. The Natural Gas Distribution segment consists of regulated natural gas services, off-system sales, capacity and storage management operations. The Energy Services segment consists of unregulated wholesale energy operations. The Clean Energy Ventures segment consists of capital investments in clean energy projects. The Midstream segment consists of investments in the midstream natural gas market, such as natural gas transportation and storage facilities. The Home Services and Other operations consist of heating, cooling and water appliance sales and installations, among others.