STOCK-BASED COMPENSATION PLAN (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31, 2021, 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 -	2019 - TSR	32,292	$	32.88	23.2	%	2.40	%
	2019 - CEGR, Time	69,496	$	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	1,627	$	24.20	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, 2021 and 2020 (in thousands):

	Three Months Ended March 31,
	2021		2020
Officers & Key Employees	$	1,264	$	1,212
Directors	10		299
Total Cost	1,274		1,511
Capitalized	(23)		(122)
Net Expense	$	1,251	$	1,389

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, 2021, excluding accrued dividend equivalents:

	Officers and Other Key Employees	Directors	Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2021	449,786	38,456	$	28.88
Vested	(137,529)	(36,829)	$	31.45
Nonvested Shares Outstanding, March 31, 2021	312,257	1,627	$	27.45