STOCK-BASED COMPENSATION PLAN (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018 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 -	2016 - TSR	58,205	$	22.53	18.1	%	1.31	%
	2016 - CEGR, Time	73,344	$	23.52	N/A		N/A
	2017 - TSR	49,981	$	32.17	20.8	%	1.47	%
	2017 - CEGR, Time	81,372	$	33.69	N/A		N/A
	2018 - TSR	64,290	$	31.05	21.9	%	2.00	%
	2018 - CEGR, Time	120,924	$	31.23	N/A		N/A
Directors -	2018	26,416	$	31.16	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, 2018 and 2017 (in thousands):

	Three Months Ended March 31,
	2018			2017
Officers & Key Employees	$	1,100		$	1,070
Directors	206			256
Total Cost	1,306			1,326
Capitalized	(101		)	(88		)
Net Expense	$	1,205		$	1,238

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, 2018, excluding accrued dividend equivalents:

	Officers &Other Key Employees		Directors		Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2018	342,793		30,394		$	28.60
Granted	185,214		26,416		$	31.17
Cancelled/Forfeited	(34,990	)	—		$	28.21
Vested	(44,901	)	(30,394	)	$	30.56
Nonvested Shares Outstanding, March 31, 2018	448,116		26,416		$	29.46