STOCK-BASED COMPENSATION PLAN (Tables)

12 Months Ended

Dec. 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 at December 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	48,304	$	31.05	21.9	%	2.00	%
	2018 - CEGR, Time	63,389	31.23		N/A		N/A
	2019 - TSR	32,292	$	32.88	23.2	%	2.40	%
	2019 - CEGR, Time	95,332	$	31.38	N/A		N/A
	2020 - TSR	41,306	$	25.51	34.8	%	0.21	%
	2020 - CEGR, Time	169,164	$	25.19	N/A		N/A
Directors -	2020	38,456	$	32.07	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 years ended December 31 (in thousands):

	2020		2019		2018
Officers & Key Employees	$	4,590	$	4,371	$	3,321
Directors	1,207		838		823
Total Cost	5,797		5,209		4,144
Capitalized	(46)		(275)		(386)
Net Expense	$	5,751	$	4,934	$	3,758

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 2020, excluding accrued dividend equivalents:

	Officers & Other Key Employees	Directors	Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2020	402,146	30,961	$	31.50
Granted	225,278	38,456	$	26.32
Vested*	(137,530)	(30,961)	$	31.49
Cancelled/Forfeited	(40,108)	—	$	29.32
Nonvested Shares Outstanding, December 31, 2020	449,786	38,456	$	28.88