Director Paul L Maddock Jr sold entire 17,997-share stake in CPK for $2,045,479.70 across 3 transactions (Aug 12-13)
Director Paul L Maddock Jr executed 3 separate sales totaling 17,997 shares for $2,045,479.70, eliminating his entire equity position in Chesapeake Utilities. The sales occurred on August 12-13 at prices ranging from $113.56 to $114.41, representing near-current levels ($113.89) within the 52-week range of $86.71–$119.46. Complete divestiture of a director's full holdings is a material capital event, signaling a departure from or fundamental shift in the insider's relationship with the company. With Chesapeake Utilities trading at a P/E of 23.98 and annual revenue contracting 1.5% year-over-year, the timing and completeness of this exit warrants investor review of concurrent governance or operational developments.