ARTESIAN RESOURCES CORP — Director's Dealing 2009

May 13, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARTESIAN RESOURCES CORP (ARTNA)
CIK: 0000863110
Period of Report: 2009-05-12

Reporting Person: SPACHT DAVID B (CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-05-12	Class A Non-Voting Common Stock	X	2425	$9.333	Acquired	10286	Direct
2009-05-12	Class A Non-Voting Common Stock	S	2425	$14.5	Disposed	7861	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-05-12	Incentive Stock Option (right to buy)	$9.333	X	2425	Disposed	2009-05-18	Class A Non-Voting Common Stock (2425)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Non-Voting Common Stock	369	Indirect

Footnotes

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