STOCK-BASED COMPENSATION PLAN (Tables)

6 Months Ended

Jun. 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 June 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	33,537	$	26.31	16.0	%	1.10	%
	2015 - EGR, ROE, Time	61,586	$	29.47	N/A		N/A
	2016 - TSR	66,101	$	22.53	18.1	%	1.31	%
	2016 - CEGR, Time	103,650	$	23.52	N/A		N/A
	2017 - TSR	57,237	$	32.17	20.8	%	1.47	%
	2017 - CEGR, Time	110,207	$	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 six months ended June 30, 2017 and 2016 (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Officers & Key Employees	$	1,117		$	798		$	2,187		$	1,615
Directors	256			227			512			420
Total Cost	1,373			1,025			2,699			2,035
Capitalized	(104		)	(106		)	(192		)	(212		)
Net Expense	$	1,269		$	919		$	2,507		$	1,823

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, 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	167,444		30,394		$	33.24
Vested	(30,641	)	(35,197	)	$	24.75
Nonvested Shares Outstanding, June 30, 2017	432,318		30,394		$	28.53