-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, R+isQMb4nKxvYMe037+sIEZ5WfNv0aqbfGmHg4vS9o0NrcvKyOOMSkNVRA7G7mie 8hwh2YPItKbfOqm/cmrsgg== 0000950116-05-000413.txt : 20050204 0000950116-05-000413.hdr.sgml : 20050204 20050204154312 ACCESSION NUMBER: 0000950116-05-000413 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050202 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20050204 DATE AS OF CHANGE: 20050204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARTESIAN RESOURCES CORP CENTRAL INDEX KEY: 0000863110 STANDARD INDUSTRIAL CLASSIFICATION: WATER SUPPLY [4941] IRS NUMBER: 510002090 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18516 FILM NUMBER: 05577114 BUSINESS ADDRESS: STREET 1: 664 CHURCHMANS RD CITY: NEWARK STATE: DE ZIP: 19702 BUSINESS PHONE: 3024536900 MAIL ADDRESS: STREET 1: 664 CHURCHMANS RD CITY: NEWARK STATE: DE ZIP: 19702 8-K 1 eightk.txt 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) February 2, 2005 ARTESIAN RESOURCES CORPORATION ---------------------------------------------------- (exact name of registrant as specified in its charter) Delaware 0-18516 51-0002090 - ------------------------------- ------------ ---------------------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification Number) 664 Churchmans Road, Newark, Delaware 19702 ---------------------------------------- --------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 302-453-6900 -------------- - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 1.01 Entry into a Material Definitive Agreement On February 2, 2005, the Compensation Committee of the Board of Directors of Artesian Resources Corporation approved the grant of shares of Class A Non-voting Common stock and cash under the Company's Cash and Stock Bonus Compensation Plan to the executive officers in the amounts indicated below:
NAME SHARES CASH ---- ------ ---- Dian C. Taylor, Chair, CEO & President 1,500 $36,760 Joseph A. DiNunzio, Sr. Vice President 750 $17,765 David B. Spacht, V.P., CFO & Treasurer 500 $10,974 John M. Thaeder, V.P. Operations 750 $17,798 Bruce P. Kraeuter, V.P. Engineering & Planning 750 $17,798 John J. Schreppler, II, V.P., General Counsel and Assistant 500 $10,706 Secretary Nicholle R. Taylor, Vice President 500 $11,661
The cash portion of the bonuses were issued to cover the estimated individual tax liability associated with the stock bonus issued. The fair market value of the Class A Non-voting Common stock issued was $28.11 per share based on the closing price on the NASDAQ National Market on the date of the award. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARTESIAN RESOURCES CORPORATION Date: February 4, 2005 By: /s/Dian C. Taylor ------------------------------- Dian C. Taylor President, Chief Executive Officer and Chair of the Board ARTESIAN RESOURCES CORPORATION Date: February 4, 2005 By: /s/David B. Spacht ------------------------------------ David B. Spacht Vice President, Chief Financial Officer and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----