CHESAPEAKE UTILITIES CORP — Director's Dealing 2005

Dec 22, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHESAPEAKE UTILITIES CORP (CPK)
CIK: 0000019745
Period of Report: 2005-12-22

Reporting Person: MCMASTERS MICHAEL P (Senior Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-12-22	Common Stock	M	2070	$20.5	Acquired	24911	Direct
2005-12-22	Common Stock	F	220	$30.715	Disposed	24691	Direct
2005-12-22	Common Stock	F	1382	$30.715	Disposed	23309	Direct
2005-12-22	Common Stock	P	0	—	Acquired	25	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-12-22	Employee Stock Options (Rights to Buy)	$20.5	M	2070	Disposed	2005-12-31	Common Stock (2070)	Direct

Footnotes

F1: Of these shares, 6,880 are indirectly owned via the Company's Retirement Savings Plan (401k) and 13,813 shares represent deferred stock units that will be settled automatically on a one-for-one basis in common stock.