STOCK-BASED COMPENSATION PLAN (Tables)

9 Months Ended

Sep. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [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 September 30, 2017 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 -	2015 - TSR	33,449	$	26.31	16.0	%	1.10	%
	2015 - EGR, ROE, Time	61,357	$	29.47	N/A		N/A
	2016 - TSR	65,544	$	22.53	18.1	%	1.31	%
	2016 - CEGR, Time	102,616	$	23.52	N/A		N/A
	2017 - TSR	56,644	$	32.17	20.8	%	1.47	%
	2017 - CEGR, Time	109,107	$	33.69	N/A		N/A
Directors -	2017	30,394	$	33.64	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 and nine months ended September 30, 2017 and 2016 (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Officers & Key Employees	$	1,087		$	781		$	3,274		$	2,396
Directors	256			210			767			630
Total Cost	1,343			991			4,041			3,026
Capitalized	(96		)	(77		)	(288		)	(289		)
Net Expense	$	1,247		$	914		$	3,753		$	2,737

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 nine months ended September 30, 2017, excluding accrued dividend equivalents:

	Officers &Other Key Employees		Directors		Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2017	295,515		35,197		$	24.96
Granted	167,734		30,394		$	33.24
Cancelled/Forfeited	(3,891	)	—		$	28.70
Vested	(30,641	)	(35,197	)	$	24.75
Nonvested Shares Outstanding, September 30, 2017	428,717		30,394		$	28.53