Artesian Resources Officer Receives 750 Restricted Class A Shares

Rhea-AI Filing Summary

David B. Spacht, Chief Financial Officer of Artesian Resources Corp, received a restricted stock grant of 750 Class A non-voting shares on 09/16/2025. The grant has an exercise/vesting date of 09/16/2026 and an expiration date of 09/17/2026, with an indicated price of $32.08 per share. After the transaction, Mr. Spacht beneficially owns 750 shares directly.

Insights

Financial Analyst

TL;DR: CFO received a small restricted stock grant (750 shares), a routine compensation event with limited market impact.

The filing shows a single restricted stock grant to the company's CFO for 750 Class A non-voting shares at a reported price of $32.08. The shares vest/exercise on 09/16/2026 and expire 09/17/2026. The position is recorded as direct ownership and totals 750 shares following the grant. Given the size, this appears to be standard executive compensation rather than a material insider purchase or sale.

Corporate Governance Expert

TL;DR: This is a standard restricted stock compensation disclosure by an officer; governance implications are routine.

The Form 4 discloses compliance with Section 16 reporting for an officer-level recipient. The transaction is a grant (code A) rather than a market trade, indicating compensation rather than a trading decision. The direct ownership and explicit vesting/expiration dates provide clear disclosure; there are no multiple transactions or complex derivative positions reported.

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

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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^*

SPACHT DAVID B

(Last) (First) (Middle)

664 CHURCHMANS ROAD

(Street)

NEWARK DE 19702

(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)
	CFO

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:

	David B. Spacht	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 the ARTNB filing report for the company officer?

The Form 4 reports a restricted stock grant of 750 Class A non-voting shares to CFO David B. Spacht on 09/16/2025.

How many shares does David B. Spacht beneficially own after the reported transaction?

Following the transaction, Mr. Spacht beneficially owns 750 shares directly.

What are the vesting and expiration dates for the restricted shares?

The grant is exercisable/vests on 09/16/2026 and has an expiration date of 09/17/2026.

What price is associated with the restricted stock grant in the filing?

The Form 4 lists a price of $32.08 per share for the reported restricted stock grant.

Was the reported transaction a purchase, sale, or grant?

The transaction code is A, indicating the shares were a grant (compensation), not an open-market purchase or sale.