How Westhoven was paid
$6.4M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Stephen D. WesthovenPresident and Chief Executive Officer | $1,002,737 | $3,514,633 | $1,398,286 | $436,141 | $81,456 | $6,433,253 |
| Roberto F. BelSenior Vice President and Chief Financial Officer | $457,124 | $467,992 | $333,265 | — | $53,087 | $1,311,468 |
| Patrick J. MigliaccioSenior Vice President and Chief Operating Officer, NJNG | $512,507 | $547,884 | $364,181 | $76,954 | $52,840 | $1,554,366 |
| Amy CradicSenior Vice President and Chief Operating Officer of Non-Utility Businesses, Strategy and External Affairs | $445,661 | $476,629 | $325,545 | — | $58,419 | $1,306,254 |
| Richard ReichSenior Vice President and General Counsel | $448,208 | $383,453 | $265,982 | $96,299 | $38,983 | $1,232,925 |
What changed and why
- $6.4MCEO Steve Westhoven received total compensation of $6,433,253 in fiscal 2025, down from $7,208,109 in fiscal 2024.
- $3.29Net financial earnings per share increased to $3.29, up from $2.95 in the prior fiscal year.
- $1.90The company achieved its 30th consecutive year of dividend growth with a rate of $1.90 per share.
- $150KThe CEO to median employee pay ratio was calculated at 43:1 with median employee total compensation of $150,102.
- No stock options were granted to any of the named executive officers during fiscal year 2025.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.