ARTESIAN RESOURCES CORP — Director's Dealing 2011

Dec 13, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARTESIAN RESOURCES CORP (ARTNA)
CIK: 0000863110
Period of Report: 2011-12-09

Reporting Person: SPACHT DAVID B (CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-09	Class A Non-voting Common Stock	X	2750	$12.40	Acquired	11100	Direct
2011-12-09	Class A Non-voting Common Stock	S	2750	$18.25	Disposed	8350	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-09	Non-qualified Stock Option (Right to Buy)	$12.40	X	2750	Disposed	2012-06-05	Class A Non-voting Common Stock (2750)	Direct