4/A: Chesapeake Utilities CEO Amends Stock Ownership Filing for Performance Share Tax Withholding
Amendment to Insider Transaction Disclosure
Chesapeake Utilities Corp. CEO and Chair Jeffry M. Householder filed an amended Form 4 disclosing a disposition of 1,304 common shares for tax withholding related to performance share vesting.
Summary
- The filing is an amended Form 4 by Jeffry M. Householder, who serves as President & CEO and Chair of the Board for Chesapeake Utilities Corp. (CPK).
- It reports a disposition of 1,304 shares of Chesapeake Utilities Corp. common stock on February 26, 2025.
- The shares were disposed of at a price of $126.58 per share.
- The transaction code 'F' indicates that the disposition was made to the issuer to satisfy tax withholding obligations.
- This disposition is linked to 11,088 shares of common stock that were earned by Mr. Householder pursuant to a performance share agreement, as originally reported on February 28, 2025.
- Following this transaction, Mr. Householder directly beneficially owns 75,729 shares of common stock.
- The direct beneficial ownership includes 30,845 deferred stock units, which will be settled on a one-for-one basis in common stock.
- Additionally, Mr. Householder indirectly owns 506 shares through a 401k Plan.
Sentiment
Score: 6
Explanation: The filing is a routine disclosure of an insider stock transaction for tax withholding purposes, stemming from the vesting of performance shares, which is a positive indicator of performance achievement, making the overall sentiment neutral to slightly positive.
Positives
- The underlying event for the share disposition is the vesting of 11,088 performance shares, indicating the achievement of performance targets by the reporting individual.
Negatives
- A disposition of 1,304 shares of common stock occurred, reducing the direct beneficial ownership of the reporting person.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders may observe a minor reduction in direct insider holdings, which is a routine event for tax purposes and not indicative of a change in management's confidence or company performance.
Key Dates
| Date | Description |
|---|---|
| 02/26/2025 | Transaction Date: Disposition of 1,304 shares of common stock. |
| 02/28/2025 | Date of Original Filing: When the earning of 11,088 performance shares was reported. |
| 06/23/2025 | Signature Date of the amended Form 4 filing by Beth W. Cooper, by Power of Attorney. |
Keywords
SEC Form 4, Chesapeake Utilities Corp, CPK, Jeffry M Householder, Insider Transaction, Beneficial Ownership, Performance Shares, Tax Withholding, Stock Disposition
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