STOCK-BASED COMPENSATION PLAN (Tables)

9 Months Ended

Sep. 30, 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 September 30, 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	51,587	$	22.53	18.1	%	1.31	%
	2016 - CEGR, Time	65,104	$	23.52	N/A		N/A
	2017 - TSR	44,376	$	32.17	20.8	%	1.47	%
	2017 - CEGR, Time	72,992	$	33.69	N/A		N/A
	2018 - TSR	61,009	$	31.05	21.9	%	2.00	%
	2018 - CEGR, Time	124,072	$	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 and nine months ended September 30, 2018 and 2017 (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Officers & Key Employees	$	549		$	1,087		$	2,739		$	3,274
Directors	206			256			617			767
Total Cost	755			1,343			3,356			4,041
Capitalized	(101		)	(96		)	(303		)	(288		)
Net Expense	$	654		$	1,247		$	3,053		$	3,753

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 nine months ended September 30, 2018, excluding accrued dividend equivalents:

	Officers and Other Key Employees		Directors		Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2018	342,793		30,394		$	28.60
Granted	201,858		26,416		$	31.17
Cancelled/Forfeited	(80,610	)	—		$	28.72
Vested	(44,901	)	(30,394	)	$	30.56
Nonvested Shares Outstanding, September 30, 2018	419,140		26,416		$	29.56