CHESAPEAKE UTILITIES CORP — Director's Dealing 2005

Feb 28, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHESAPEAKE UTILITIES CORP (CPK)
CIK: 0000019745
Period of Report: 2005-02-24

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-24	Common Stock	A	3584	$27	Acquired	21394	Direct
2005-02-24	Common Stock	P	0	—	Acquired	24	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-24	Employee Stock Options (Rights to Buy)	$20.5	P	0	Acquired	2005-12-31	Common Stock (0)	Direct

Footnotes

F1: Of these shares, 6,344 are indirectly owned via the Company's Retirement Savings Plan (401k) and 13,437 represent deferred stock units that will be settled automatically on a one-for-one basis in common stock.