Companies Artesian Resources Corp
Artesian Resources (ARTNA): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Artesian Resources Corp’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO pay, last three years
- $571,344FY2023
- $671,451FY2024
- $687,374FY2025
CEO total pay was $687,374 in fiscal 2025, up from $671,451 in fiscal 2024.
FY2025: salary $516,204 · bonus $75,000 · stock awards $34,980 · option awards $0
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Nicholle Taylor | $516,204 | $75,000 | $34,980 | $0 | $0 | $0 | $61,190 | $687,374 |
| Chair, President and Chief Executive Officer (5) | ||||||||
| Joseph DiNunzio | 486,054 | 75,000 | — | 0 | 0 | 0 | 43,335 | 604,389 |
| Executive Vice President & Secretary (6) | ||||||||
| David Spacht | 463,728 | 54,500 | — | 0 | 0 | 0 | 39,596 | 557,824 |
| Chief Financial Officer | ||||||||
| John Thaeder | 373,547 | 75,000 | — | 0 | 0 | 0 | 30,939 | 479,486 |
| Senior Vice President (6) | ||||||||
| Jennifer Finch | 400,971 | 50,000 | — | 0 | 0 | 0 | 23,091 | 474,062 |
| Senior Vice President & Treasurer | ||||||||
| Dian Taylor | 127,592 | 0 | 34,980 | 0 | 0 | 0 | 102,035 | 264,607 |
| Former Chair, President and Chief Executive Officer (5) | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Nicholle Taylor | $687,374 | $671,451 | $571,344 | ↑ +15,923 |
| Joseph DiNunzio | 604,389 | 591,345 | 500,965 | ↑ +13,044 |
| David Spacht | 557,824 | 564,617 | 463,810 | ↓ −6,793 |
| John Thaeder | 479,486 | 462,139 | 382,486 | ↑ +17,347 |
| Jennifer Finch | 474,062 | 479,128 | 398,041 | ↓ −5,066 |
| Dian Taylor | 264,607 | 881,718 | 849,534 | ↓ −617,111 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The compensation program is designed to attract, motivate, and retain seasoned executives by providing competitive pay levels and rewarding contributions aligned with the Company's strategy to increase customer base, revenues, earnings, and dividends. The program emphasizes a pay-for-performance approach based on qualitative assessments of individual and team performance toward strategic objectives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pearl Meyer & Partners |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jennifer Finch | RSU | 2025-09-16 | — | — | 750 | — | $24,060 |
| David Spacht | RSU | 2025-09-16 | — | — | 750 | — | 24,060 |
| Dian C. Taylor | RSU | 2025-05-05 | — | — | 1,000 | — | 34,270 |
| Nicholle R. Taylor | RSU | 2025-05-05 | — | — | 1,000 | — | 34,270 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jennifer Finch | $24,060 | $0 | $0 | 0.0% |
| David Spacht | 24,060 | 0 | 0 | 0.0% |
| Dian C. Taylor | 34,270 | 0 | 0 | 0.0% |
| Nicholle R. Taylor | 34,270 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
No outstanding equity awards are on file for this fiscal year.
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Michael HoughtonIndependent · Audit · Compensation · Governance and Nominating | $95,000 | $34,270 | — | — | — | $129,270 |
| John R. Eisenbrey JrIndependent · Audit · Compensation (Chair) · Governance and Nominating | 95,000 | 34,270 | — | — | — | 129,270 |
| Salvatore J. Rossi JrIndependent · Audit · Compensation · Governance and Nominating · Newly elected | 55,500 | 33,960 | — | — | — | 89,460 |
| Kenneth R. BiedermanNot independent · Not standing for re-election · Departed during FY | 23,750 | 0 | — | — | — | 23,750 |
Board fee structure and ownership guideline
| Annual cash retainer | $95,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $269,250 |
| Equity awards (grant-date value) | $102,500 |
| All other compensation | $0 |
| Total cost of the board | $371,750 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Artesian Resources as a peer
Companies that benchmark against ARTNA
1 company names ARTNA as a compensation peer
- YORK WATER COYORWFY2025
Each company listed discloses ARTNA in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ARTNA in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
The companies Artesian Resources Corp names as compensation peers that name it back in their own disclosed peer groups.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Essential Utilities, Inc. | 2025 | Christopher Franklin | $1,103,931 | $3,366,470 | $652,838 | $2,218,607 | $9,212,815 |
| 2 | American Water Works Company, Inc. | 2025 | John Griffith | 1,026,418 | 4,060,491 | 0 | 1,635,585 | 7,055,667 |
| 3 | Fluence Corporation Limited | 2025 | Julian Nebreda | 965,000 | 4,400,030 | 1,100,001 | 425,763 | 6,909,044 |
| 4 | California Water Service Group | 2025 | Martin Kropelnicki | 1,080,688 | 1,950,119 | 0 | 1,524,915 | 6,875,256 |
| 5 | American States Water Company | 2025 | Robert Sprowls | 974,327 | 1,991,967 | 0 | 892,125 | 5,028,665 |
| 6 | Chesapeake Utilities Corporation | 2025 | Jeffry Householder | 872,385 | 2,420,566 | 0 | 1,097,863 | 4,531,322 |
| 7 | Middlesex Water Company | 2025 | Nadine Leslie | 754,000 | 678,000 | 0 | 427,525 | 1,906,024 |
| 8 | Consolidated Water Company Ltd. | 2025 | Frederick McTaggart | 562,275 | 281,138 | 0 | 359,153 | 1,222,966 |
| 9 | Global Water Resources, Inc. | 2025 | Ron Fleming | 385,000 | 259,252 | 0 | 156,352 | 819,403 |
| 10 | Artesian Resources Corp | 2025 | Nicholle Taylor | 516,204 | 34,980 | 0 | 0 | 687,374 |
| 11 | The York Water Company | 2025 | Joseph Hand | 412,175 | 100,074 | — | 43,960 | 572,275 |
| — | RGC Resources Incorporated | — | — | — | — | — | — | not in coverage universe |
| — | SJW Group | — | — | — | — | — | — | not in coverage universe |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Artesian Resources Corp | not disclosed | Restricted Stock 100 | not disclosed | Pearl Meyer & Partners |
| American States Water Company | not disclosed | not disclosed | not disclosed | Pearl Meyer |
| American Water Works Company, Inc. | not disclosed | PSU 70 · RSU 30 | Yes — Relative TSR | Aon Human Capital Solutions |
| California Water Service Group | 141%% | Performance-Based RSUs 75 · Time-Based RSAs 25 | No | Meridian Compensation Partners |
| Chesapeake Utilities Corporation | not disclosed | PSU 100 | not disclosed | FW Cook |
| Consolidated Water Company Ltd. | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co., Inc. |
| Essential Utilities, Inc. | 187.62% | PSU 50 · RSU 35 · Option 15 | Yes — Total Shareholder Return (TSR) Peer Group Ranking | FW Cook |
| Fluence Corporation Limited | 36% | PSU 40 · RSU 40 · Options 20 | No | Pay Governance |
| Global Water Resources, Inc. | not disclosed | RSU 50 · Cash 50 | not disclosed | FW Cook |
| Middlesex Water Company | not disclosed | Restricted Stock 100 | not disclosed | Aon |
| RGC Resources Incorporated | not disclosed | not disclosed | not disclosed | not disclosed |
| SJW Group | not disclosed | not disclosed | not disclosed | not disclosed |
| The York Water Company | not disclosed | Restricted Stock 100 | not disclosed | Herbein + Company, Inc. |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 9 : 1 |
|---|---|
| CEO total compensation | $719,431 |
| Median employee compensation | $83,476 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (31 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Nicholle Taylor. 10-K, filed 2026-03-16. Section “Executive Compensation” · page 66. As printed: 687,374. View filing ↗
- Section 01, Joseph DiNunzio. 10-K, filed 2026-03-16. Section “Executive Compensation” · page 66. As printed: 604,389. View filing ↗
- Section 01, David Spacht. 10-K, filed 2026-03-16. Section “Executive Compensation” · page 66. As printed: 557,824. View filing ↗
- Section 01, John Thaeder. 10-K, filed 2026-03-16. Section “Executive Compensation” · page 66. As printed: 479,486. View filing ↗
- Section 01, Jennifer Finch. 10-K, filed 2026-03-16. Section “Executive Compensation” · page 66. As printed: 474,062. View filing ↗
- Section 01, Dian Taylor. 10-K, filed 2026-03-16. Section “Executive Compensation” · page 66. As printed: 264,607. View filing ↗
- Section 03, Jennifer Finch RSU. 10-K, filed 2026-03-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, David Spacht RSU. 10-K, filed 2026-03-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Dian C. Taylor RSU. 10-K, filed 2026-03-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Nicholle R. Taylor RSU. 10-K, filed 2026-03-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. 10-K, filed 2026-03-16. Section “CEO Pay Ratio”. As printed: 9 : 1. View filing ↗
- Section 08, Michael Houghton. 10-K, filed 2026-03-16. Section “Director Compensation”. As printed: 129,270. View filing ↗
- Section 08, John R. Eisenbrey Jr. 10-K, filed 2026-03-16. Section “Director Compensation”. As printed: 129,270. View filing ↗
- Section 08, Salvatore J. Rossi Jr. 10-K, filed 2026-03-16. Section “Director Compensation”. As printed: 89,460. View filing ↗
- Section 08, Kenneth R. Biederman. 10-K, filed 2026-03-16. Section “Director Compensation”. As printed: 23,750. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 269,250 + equity 102,500 + all other 0 = 371,750, summed across the director compensation table rows.
- Essential Utilities, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-17. CEO total compensation as printed in Essential Utilities, Inc.'s own proxy. As printed: 9,212,815. View filing ↗
- American Water Works Company, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in American Water Works Company, Inc.'s own proxy. As printed: 7,055,667. View filing ↗
- Fluence Corporation Limited, Section 10b CEO total. DEF 14A, filed 2026-01-26. CEO total compensation as printed in Fluence Corporation Limited's own proxy. As printed: 6,909,044. View filing ↗
- California Water Service Group, Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in California Water Service Group's own proxy. As printed: 6,875,256. View filing ↗
- American States Water Company, Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in American States Water Company's own proxy. As printed: 5,028,665. View filing ↗
- Chesapeake Utilities Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Chesapeake Utilities Corporation's own proxy. As printed: 4,531,322. View filing ↗
- Middlesex Water Company, Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Middlesex Water Company's own proxy. As printed: 1,906,024. View filing ↗
- Consolidated Water Company Ltd., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Consolidated Water Company Ltd.'s own proxy. As printed: 1,222,966. View filing ↗
- Global Water Resources, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Global Water Resources, Inc.'s own proxy. As printed: 819,403. View filing ↗
- Artesian Resources Corp (subject), Section 10b CEO total. 10-K, filed 2026-03-16. CEO total compensation as printed in Artesian Resources Corp's own proxy. As printed: 687,374. View filing ↗
- The York Water Company, Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in The York Water Company's own proxy. As printed: 572,275. View filing ↗
- Section 10a, Middlesex Water Company reciprocity. DEF 14A. Middlesex Water Company names Artesian Resources Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, The York Water Company reciprocity. DEF 14A. The York Water Company names Artesian Resources Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗