Chesapeake Utilities (CPK) COO logs tax withholding on incentive shares
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Chesapeake Utilities Corp Senior VP & COO Jeffery S. Sylvester reported compensation-related share activity tied to an incentive award. On February 24, 2026, 307 shares of common stock were disposed of at $135.05 per share to cover tax liability from a performance share award, a non‑market, tax-withholding transaction. The award totaled 3,899 shares, consisting of 668 shares issued to him, 2,924 deferred stock units, and the 307 shares used for taxes. After these entries, he held 15,575 shares directly and 183 shares indirectly through a 401k plan, in addition to 13,054 deferred stock units that will settle one-for-one in common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Sylvester Jeffery S
Role
Senior VP & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 307 | $135.05 | $41K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 15,575 shares (Direct, null);
Common Stock — 183 shares (Indirect, 401k Plan)
Footnotes (1)
- As reported on February 26, 2026, 3,899 shares of common stock were earned pursuant to a performance share agreement in place with the reporting individual. Accordingly, 668 shares were issued to the reporting individual, 2,924 deferred stock units were granted and 307 shares of Chesapeake Utilities common stock were utilized to satisfy the tax liability associated with the incentive award (668 shares issued to the reporting individual + 2,924 deferred stock units + 307 shares to cover the tax liability = 3,899 total shares comprising the incentive award). Includes 13,054 deferred stock units that will be settled on a one-for-one basis in common stock.
Key Figures
Tax-withholding shares: 307 shares
Tax-withholding price: $135.05 per share
Total incentive award size: 3,899 shares
+5 more
8 metrics
Tax-withholding shares
307 shares
Common stock used to satisfy tax liability from incentive award
Tax-withholding price
$135.05 per share
Value of 307 shares disposed for tax liability
Total incentive award size
3,899 shares
Performance share agreement components (issued, deferred, tax)
Shares issued to insider
668 shares
Portion of award issued directly to reporting individual
Deferred stock units granted
2,924 units
Part of 3,899-share performance incentive award
Direct holdings after transaction
15,575 shares
Common stock directly owned following tax-withholding event
Indirect 401k holdings
183 shares
Common stock held indirectly in 401k plan
Deferred stock units outstanding
13,054 units
Will be settled one-for-one in common stock
Key Terms
performance share agreement, deferred stock units, tax liability, 401k Plan
4 terms
deferred stock units financial
"2,924 deferred stock units were granted and 307 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
"307 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: 183.0000, 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 Jeffery S. Sylvester?
Chesapeake Utilities reported that Senior VP & COO Jeffery S. Sylvester had 307 common shares disposed of to satisfy tax liability from an incentive award. This disposition is classified as a tax-withholding event, not an open-market sale, and relates to compensation rather than discretionary trading.
What was the size and structure of Jeffery Sylvester’s Chesapeake Utilities incentive award?
The incentive award totaled 3,899 Chesapeake Utilities common share equivalents. It comprised 668 shares issued directly to Jeffery Sylvester, 2,924 deferred stock units granted, and 307 shares applied to cover the tax liability associated with the performance share agreement in place with him.
Are the Chesapeake Utilities (CPK) insider transactions open-market sales or compensation-related?
The reported Chesapeake Utilities insider activity is compensation-related. The 307-share disposition is labeled as a tax-withholding transaction linked to a performance share agreement, not an open-market sale, and forms part of the mechanics of settling the 3,899-share incentive award granted to Jeffery Sylvester.