Galtman Michael D 4/A

What Happened
Michael D. Galtman, Senior Vice President and Chief Transformation Officer of Chesapeake Utilities (CPK), had 973 shares of company stock disposed to satisfy tax withholding tied to a performance share award. The 973 shares were valued at $135.05 each for a total of $131,404. This action was part of the settlement of a 2,866-share performance award.

Key Details

• Transaction date: 2026-02-24; price used for withholding: $135.05 per share.
• Shares disposed (used to cover taxes): 973; total value ≈ $131,404.
• Award details (footnote): 2,866 total performance shares earned; 1,893 shares were issued to Galtman, 0 deferred stock units, and 973 shares were used to satisfy tax liability (1,893 + 0 + 973 = 2,866).
• Filing: Amended Form 4 filed 2026-05-15 reporting the Feb 24 transaction (the amended filing date is significantly later than the transaction date).
• Shares owned after the transaction: not specified in this filing.

Context
This is a tax-withholding disposal (transaction code F) tied to a performance share award — effectively a cashless cover of the tax obligation, not a market sale indicating a directional bet. Such withholdings are routine when equity awards vest and do not by themselves indicate insider sentiment. The late amended filing reduces timeliness of disclosure; investors who track insider activity should note the reporting lag.