STOCK-BASED COMPENSATION PLAN (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of the nonvested restricted stock awards outstanding and the assumptions used to estimate the fair value of the awards

The following table summarizes the nonvested restricted stock awards outstanding for SJI at March 31, 2020 and the assumptions used to estimate the fair value of the awards:

	Grants	Shares Outstanding	Fair Value Per Share		Expected Volatility		Risk-Free Interest Rate
Officers & Key Employees -	2018 - TSR	49,014	$	31.05	21.9	%	2.00	%
	2018 - CEGR, Time	64,430	$	31.23	N/A		N/A
	2019 - TSR	36,642	$	32.88	23.2	%	2.40	%
	2019 - CEGR, Time	104,712	$	31.38	N/A		N/A
Directors -	2020	36,829	$	32.42	N/A		N/A

Summary of the total stock-based compensation cost for the period

The following table summarizes the total stock-based compensation cost to SJI for the three months ended March 31, 2020 and 2019 (in thousands):

	Three Months Ended March 31,
	2020		2019
Officers & Key Employees	$	1,212	$	750
Directors	299		202
Total Cost	1,511		952
Capitalized	(122)		(81)
Net Expense	$	1,389	$	871

Summary of information regarding restricted stock award activity during the period excluding accrued dividend equivalents

The following table summarizes information regarding restricted stock award activity for SJI during the three months ended March 31, 2020, excluding accrued dividend equivalents:

	Officers and Other Key Employees	Directors	Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2020	402,146	30,961	$	31.50
Granted	—	36,829	$	32.42
Cancelled/Forfeited	(10,385)	—	$	31.59
Vested	(136,963)	(30,961)	$	31.49
Nonvested Shares Outstanding, March 31, 2020	254,798	36,829	$	31.61