ARTESIAN RESOURCES CORP — Director's Dealing 2008

May 21, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARTESIAN RESOURCES CORP (ARTNA)
CIK: 0000863110
Period of Report: 2008-05-19

Reporting Person: DiNunzio Joseph A (Exec VP / Corp Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-19	Class A Non-Voting Common Stock	X	700	$9.333	Acquired	15501	Direct
2008-05-19	Class A Non-Voting Common Stock	S	700	$18.51	Disposed	14801	Direct
2008-05-20	Class A Non-Voting Common Stock	X	4925	$9.333	Acquired	19726	Direct
2008-05-20	Class A Non-Voting Common Stock	S	4925	$18.5	Disposed	14801	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-19	Incentive Stock Option (right to buy)	$9.333	X	700	Disposed	2009-05-18	Class A Non-Voting Common Stock (700)	Direct
2008-05-20	Incentive Stock Option (right to buy)	$9.333	X	4925	Disposed	2009-05-18	Class A Non-Voting Common Stock (4925)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Non-Voting Common Stock	30	Indirect

Footnotes

F1: shares become exercisable in 20% annual increments over five years begining one year from the date of grant