Chesapeake Utilities (CPK) executive uses 79 shares to cover tax on incentive award
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Chesapeake Utilities Corp senior executive Kevin J. Webber reported compensation-related share activity. A performance share award covering 3,336 shares of common stock was earned, structured as 3,257 deferred stock units and 79 shares used to cover the related tax liability, so no shares were issued directly to him.
The Form 4/A shows 79 shares of common stock treated as a tax-withholding disposition at $135.05 per share, leaving him with 14,602 directly held shares of common stock and 503 shares held indirectly through a 401(k) plan. Footnotes also note 9,389 deferred stock units that will later settle one-for-one in common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Webber Kevin J
Role
Sr VP & Chief Dev Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 79 | $135.05 | $11K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 14,602 shares (Direct, null);
Common Stock — 503 shares (Indirect, 401k Plan)
Footnotes (1)
- As reported on February 26, 2026, 3,336 shares of common stock were earned pursuant to a performance share agreement in place with the reporting individual. Accordingly, 0 shares were issued to the reporting individual, 3,257 deferred stock units were granted and 79 shares of Chesapeake Utilities common stock were utilized to satisfy the tax liability associated with the incentive award (0 shares issued to the reporting individual + 3,257 deferred stock units + 79 shares to cover the tax liability = 3,336 total shares comprising the incentive award). Includes 9,389 deferred stock units that will be settled on a one-for-one basis in common stock.
Key Figures
Tax-withholding shares: 79 shares
Tax-withholding price: $135.05 per share
Direct shares after transaction: 14,602 shares
+4 more
7 metrics
Tax-withholding shares
79 shares
Shares of common stock used to satisfy tax liability
Tax-withholding price
$135.05 per share
Value of common stock used for tax liability
Direct shares after transaction
14,602 shares
Common stock directly owned following tax-withholding disposition
Indirect 401(k) shares
503 shares
Common stock held indirectly through 401(k) plan
Performance award size
3,336 shares
Total shares comprising performance share incentive award
New deferred stock units from award
3,257 units
Deferred stock units granted under performance share agreement
Deferred stock units outstanding
9,389 units
Deferred stock units settling one-for-one in common stock
Key Terms
deferred stock units, performance share agreement, tax liability, 401k Plan
4 terms
deferred stock units financial
"3,257 deferred stock units were granted and 79 shares of Chesapeake Utilities common stock were utilized"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
tax liability financial
"79 shares of Chesapeake Utilities common stock were utilized to satisfy the tax liability associated with the incentive award"
401k Plan financial
"total_shares_following_transaction": "503.0000", "direct_or_indirect": "I", "nature_of_ownership": "401k Plan""
A 401(k) plan is an employer-sponsored retirement savings account that lets workers set aside part of their paycheck into investments, often with tax breaks and sometimes with matching contributions from the employer. Think of it as a workplace piggy bank that grows through employee contributions, optional company top-ups, and market returns; it matters to investors because it shapes household retirement security, drives large flows of money into public markets, and affects a company’s compensation costs and ability to attract and keep talent.
FAQ
What insider transaction did Chesapeake Utilities (CPK) report for Kevin J. Webber?
Chesapeake Utilities reported a tax-withholding disposition for Kevin J. Webber. 79 shares of common stock were used to satisfy tax liabilities tied to an incentive award, while his overall equity position remained largely intact with direct, indirect, and deferred holdings.
What deferred stock units does Kevin Webber hold in Chesapeake Utilities (CPK)?
Kevin Webber holds 9,389 deferred stock units that will settle into common stock on a one-for-one basis. An additional 3,257 deferred stock units were granted under the latest performance share agreement, further increasing his future equity-based compensation exposure to Chesapeake Utilities.
Does the Chesapeake Utilities (CPK) Form 4/A reflect any open-market buying or selling by Kevin Webber?
No open-market buying or selling is shown; the key disposition is 79 shares for tax withholding. The filing characterizes this as payment of tax liability using stock from an incentive award, distinguishing it from discretionary purchases or sales in the public market.