STOCK-BASED COMPENSATION PLAN (Tables)

6 Months Ended

Jun. 30, 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 June 30, 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	69,265	$	31.38	N/A		N/A
	2020 - TSR	41,306	$	25.51	34.8	%	0.21	%
	2020 - CEGR, Time	133,266	$	25.19	N/A		N/A
	2021 - TSR	46,527	28.11		39.9	%	0.27	%
	2021 - CEGR, Time	197,013	25.33		N/A		N/A
Directors -	2020	1,627	$	24.20	N/A		N/A
	2021	54,419	$	24.75	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 six months ended June 30, 2021 and 2020 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Officers & Key Employees	$	1,417	$	1,239	$	2,682	$	2,451
Directors	234		298		244		597
Total Cost	1,651		1,537		2,926		3,048
Capitalized	(44)		99		(67)		(23)
Net Expense	$	1,607	$	1,636	$	2,859	$	3,025

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 six months ended June 30, 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
Granted	243,540	54,419	$	25.66
Cancelled/Forfeited	(1,639)	—	$	26.06
Vested	(172,019)	(36,829)	$	30.42
Nonvested Shares Outstanding, June 30, 2021	519,668	56,046	$	26.66