[Form 4] ARTESIAN RESOURCES CORP Insider Trading Activity

Rhea-AI Filing Summary

Daniel W. Konstanski, Vice President of Engineering at Artesian Resources Corp, reported a non-derivative transaction dated 09/16/2025 in which he received a restricted stock grant covering 750 shares of Class A Non-voting Common Stock. The grant is shown with a $0 grant price and the transaction lists 750 shares beneficially owned following the reported transaction. The filing identifies the shares as direct beneficial ownership.

Positive

• Insider alignment: An officer received 750 shares, which aligns executive compensation with shareholder outcomes
• Clear disclosure: Transaction details including transaction date, number of shares, and ownership form (Direct) are reported

Negative

• Limited context: Filing does not provide vesting terms or total outstanding share count to assess dilution or materiality
• No materiality indication: The size of the grant is small relative to company-level metrics provided (none), limiting insight into impact

Insights

Corporate Governance Expert

TL;DR: An officer received a 750-share restricted stock grant, indicating compensation alignment with shareholders.

The Form 4 shows a straightforward restricted stock grant to an executive-level officer, recorded as direct beneficial ownership of 750 Class A Non-voting Common Stock shares. Such grants are routinely used for compensation and retention and do not, by themselves, signal operational changes or material corporate events. The filing provides the transaction date, the number of shares, and the grant price shown as $0, but contains no information on vesting conditions beyond dates listed in the table. For investors, this is a routine insider compensation disclosure rather than a market-moving development.

Securities Analyst

TL;DR: A non-derivative grant of 750 shares was reported; impact on valuation is likely immaterial given the small size disclosed.

The reported transaction documents a restricted stock grant of 750 shares with direct ownership recorded post-transaction. The form includes a price field of $32.08 associated with the Class A shares and lists the grant price as $0. The disclosure lacks additional context such as total outstanding shares, vesting terms beyond dates, or whether this grant is part of a larger award program. Absent those details, the filing should be viewed as a routine insider compensation item with limited immediate impact on company financials or share count.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

KONSTANSKI DANIEL

(Last) (First) (Middle)

607 S. CLAYTON STREET

(Street)

WILMINGTON DE 19805

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ARTESIAN RESOURCES CORP [ ARTNA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President of Engineering

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Grant	$0	09/16/2025		A		750		09/16/2026	09/17/2026	Class A Non-voting Common Stock	750	$32.08	750	D

Explanation of Responses:

	Daniel W. Konstanski	09/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Daniel W. Konstanski report for ARTNB?

He reported a restricted stock grant dated 09/16/2025 covering 750 shares of Class A Non-voting Common Stock.

How many shares does the reporting person beneficially own after the transaction?

The Form 4 shows 750 shares beneficially owned following the reported transaction.

What was the grant price and listed share price in the filing?

The grant is shown with a $0 grant price and the Class A share line lists $32.08 in the table.

What is Daniel Konstanski's role at Artesian Resources?

He is identified as the Vice President of Engineering and the Form 4 is filed by one reporting person.

Is the ownership direct or indirect according to the filing?

The filing lists the ownership form as Direct (D).