Chesapeake Utilities CAO Gets 1,642 Share Award, Sells 476 for Tax Payment

This Form 4/A is an amendment to an insider trading report for Michael D. Galtman, Senior VP & CAO of Chesapeake Utilities (CPK), originally filed on February 28, 2025, for transactions occurring on February 26, 2025.

Rhea-AI Filing Summary

This Form 4/A is an amendment to an insider trading report for Michael D. Galtman, Senior VP & CAO of Chesapeake Utilities (CPK), originally filed on February 28, 2025, for transactions occurring on February 26, 2025.

Key transaction details:

• Galtman earned 1,642 shares of common stock through a performance share agreement
• 1,166 shares were directly issued to Galtman
• 476 shares were withheld at $126.58 per share to cover tax liabilities
• Following the transaction, Galtman beneficially owns 2,473 shares directly and 200 shares indirectly through a 401k plan

The amendment was filed through Beth W. Cooper via Power of Attorney on June 23, 2025, clarifying the details of the performance share award and associated tax withholding.

Insider Trade Summary

Exercise Price or Tax Liability: 476 shares

Exercise Price or Tax Liability 2 txns

Insider Galtman Michael D

Role Senior VP & CAO

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	476	$126.58	$60K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 2,473 shares (Direct); Common Stock — 200 shares (Indirect, 401k Plan)

Footnotes (1)

1. F1. As reported on February 28, 2025, 1,642 shares of common stock were earned pursuant to a performance share agreement in place with the reporting individual. Accordingly, 1,166 shares were issued to the reporting individual and 476 shares of Chesapeake Utilities common stock were utilized to satisfy the tax liability associated with the incentive award 1,166 shares issued to the reporting individual + 476 shares to cover the tax liability = 1,642 total shares comprising the incentive award).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares of CPK stock did Michael Galtman dispose of on February 26, 2025?

Michael Galtman disposed of 476 shares of CPK common stock on February 26, 2025. These shares were used to satisfy the tax liability associated with a performance share agreement award.

What is Michael Galtman's current position at Chesapeake Utilities (CPK)?

Michael Galtman serves as Senior VP & CAO (Chief Accounting Officer) at Chesapeake Utilities Corporation.

How many CPK shares does Michael Galtman own directly after the reported transaction?

Following the reported transaction, Michael Galtman directly owns 2,473 shares of CPK common stock, plus an additional 200 shares held indirectly through the company's 401k Plan.

What was the price per share for CPK stock in the reported transaction on February 26, 2025?

The reported transaction price for the CPK shares disposed of was $126.58 per share.

Why was this Form 4/A amendment filed for CPK's insider trading activity?

This Form 4/A was filed as an amendment to the original Form 4 filed on February 28, 2025, to clarify that out of 1,642 total shares earned from a performance share agreement, 1,166 shares were issued to Galtman and 476 shares were used to cover tax liability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 06/23/2025 - 06:20 PM Learn about SEC filing dates

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Galtman Michael D

(Last) (First) (Middle)

500 ENERGY LANE

(Street)

DOVER DE 19901

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CHESAPEAKE UTILITIES CORP [ CPK ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior VP & CAO

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
02/28/2025

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
Common Stock	02/26/2025		F		476(1)	D	$126.58	2,473	D
Common Stock								200	I	401k Plan

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

Explanation of Responses:

1. As reported on February 28, 2025, 1,642 shares of common stock were earned pursuant to a performance share agreement in place with the reporting individual. Accordingly, 1,166 shares were issued to the reporting individual and 476 shares of Chesapeake Utilities common stock were utilized to satisfy the tax liability associated with the incentive award 1,166 shares issued to the reporting individual + 476 shares to cover the tax liability = 1,642 total shares comprising the incentive award).

	Beth W. Cooper, by Power of Attorney	06/23/2025
	** 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.