SEC Form 4 · accession 0001562180-19-001857
SOUTH JERSEY INDUSTRIES INC · SJI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Renna
Officer — President & CEO · Director
Period of report
Mar 7, 2019
Accepted (ET)
Mar 11, 2019 · 8:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000091928
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 7, 2019 | M | 23,504 | $0.00 | A | 93,969 | D | |
| Common StockF2 | Mar 7, 2019 | F | 9,955 | $29.65 | D | 84,014 | D | |
| Common Stock | holding | — | — | — | 17,090 | I | 401k | |
| Common Stock | holding | — | — | — | 3,270 | I | Family Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The shares were acquired pursuant to the vesting of performance based restricted stock units that were granted on January 1, 2016 with a performance period beginning on January 1, 2016 and ending on December 31, 2018 (PSUs). 30,610 PSUs were granted to the Reporting Person on January 1, 2016. Vesting of the up to 50% of the PSUs granted was contingent upon achieving an Economic Earnings compound annual growth rate (CAGR) performance hurdle and vesting of up to 50% of the PSUs granted was contingent upon achieving a relative total shareholder return (TSR) performance hurdle. The CAGR performance hurdle was achieved above threshold at 5.5% with a payout of 70.8%. The TSR performance hurdle was achieved above threshold at 40.3% with a payout of 67.7%. The overall all payout of the PSUs was 69.3%.
- F2Represents shares withheld to cover taxes on the 2016 performance-based restricted stock units