Form 4: Chesapeake Utilities Director Sells Shares Due to QTIP Trust Dissolution
SEC Form 4 Filing
Director Paul L. Maddock Jr. sold shares of Chesapeake Utilities Corp. due to the dissolution of a QTIP Trust following the death of the income beneficiary.
Summary
- Paul L. Maddock Jr., a director of Chesapeake Utilities Corp, reported the sale of company stock on August 12 and 13, 2024.
- The sales were executed due to the dissolution of a QTIP Trust, of which Maddock is a co-trustee, following the death of the income beneficiary.
- On August 12, 2024, 9,634 shares were sold at a price of $113.556 per share.
- On August 13, 2024, 8,263 shares were sold at a price of $113.765 per share, and an additional 100 shares were sold at $114.41 per share.
- Following these transactions, Maddock directly owns 34,941 shares and indirectly owns 100 shares through the QTIP Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a change in beneficial ownership. The sales are attributed to a trust dissolution, which is a neutral event.
Industry Context
This is a routine disclosure of insider trading activity. It is not necessarily indicative of the company's performance or future prospects.
Key Dates
| Date | Description |
|---|---|
| 08/12/2024 | Sale of 9,634 shares of Common Stock at $113.556. |
| 08/13/2024 | Sale of 8,263 shares of Common Stock at $113.765 and 100 shares at $114.41. |
| 08/14/2024 | Date of Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.