Michael J. Renna - Mar 1, 2022 Form 4 Insider Report for SOUTH JERSEY INDUSTRIES INC (SJI)

Signature
/s /Lauren Hemple, Attorney-in-Fact
Stock symbol
SJI
Transactions as of
Mar 1, 2022
Transactions value $
-$410,349
Form type
4
Date filed
3/3/2022, 08:51 PM
Previous filing
Jan 4, 2022
Next filing
Mar 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SJI Common Stock Options Exercise $0 +26.7K +19.24% $0.00 165K Mar 1, 2022 Direct F1, F2
transaction SJI Common Stock Tax liability -$410K -12.1K -7.32% $33.93 153K Mar 1, 2022 Direct F3
holding SJI Common Stock 21.9K Mar 1, 2022 401k F4
holding SJI Common Stock 3.27K Mar 1, 2022 Family Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were acquired pursuant to the vesting of performance restricted stock units (PRSU) that were granted on April 22, 2019 with a performance period beginning on January 1, 2019 and ending on December 31, 2021. Vesting of 50% of the PRSU granted was contingent upon achieving an Earnings Per Share Compound Annual Growth Rate (EPS CAGR) performance hurdle and vesting of 50% of the PRSU granted was contingent upon achieving a relative total shareholder return (rTSR) performance hurdle. The EPS CAGR performance hurdle was achieved reaching threshold at 5.5% with a payout of 50%. The rTSR performance hurdle was achieved above threshold at 41.6% with a payout of 72%.
F2 Due to an administrative error, the Form 4 filed on January 4, 2022 which reported the vesting of RSU, overstated the taxes withheld by 310 shares. The direct ownership balance reflects the corrected balance.
F3 Represents shares withheld for taxes on the 2019 performance RSU that vested on March 1, 2022.
F4 Includes additional contributions to 401(k)