STOCK-BASED COMPENSATION PLAN (Tables)

12 Months Ended

Dec. 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 December 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	69,265	31.38		N/A		N/A
	2020 - TSR	38,813	$	25.51	34.8	%	0.21	%
	2020 - CEGR, Time	123,487	$	25.19	N/A		N/A
	2021- TSR	42,716	$	28.11	39.9	%	0.27	%
	2021 - CEGR, Time	185,902	$	25.33	N/A		N/A
Directors -	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 years ended December 31 (in thousands):

	2021		2020		2019
Officers & Key Employees	$	5,069	$	4,590	$	4,371
Directors	897		1,207		838
Total Cost	5,966		5,797		5,209
Capitalized	(440)		(46)		(275)
Net Expense	$	5,526	$	5,751	$	4,934

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 2021, excluding accrued dividend equivalents:

	Officers & 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
Vested	(172,019)	(38,456)	$	30.37
Cancelled/Forfeited	(28,832)	—	$	25.71
Nonvested Shares Outstanding, December 31, 2021	492,475	54,419	$	26.72