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Artesian Resources Corporation (NASDAQ:ARTNA) announced that its Class B shareholders approved the adoption of the Artesian Resources Corporation 2025 Equity Compensation Plan at a special meeting held Thursday. The plan was previously adopted by the company’s board of directors in August, subject to shareholder approval.
According to a statement released through a Securities and Exchange Commission filing, the 2025 Equity Compensation Plan replaces the company’s 2015 plan, which is expiring. The new plan allows for the issuance of 263,932 shares of Class A non-voting common stock, plus additional shares that may become available if grants under the previous plan expire, are canceled, forfeited, or otherwise not exercised or vested.
The 2025 plan provides for a range of possible awards, including incentive stock options, nonqualified stock options, stock units, stock awards, dividend equivalents, and other stock-based awards.
Only holders of record of the company’s Class B common stock were entitled to vote on the proposal. At the special meeting, 675,338 votes were cast in favor of adopting the plan, while 32,158 votes were cast against, and none were withheld.
The plan became effective Thursday upon shareholder approval. Artesian Resources Corporation is incorporated in Delaware and its common stock trades on the Nasdaq Stock Market under the symbol ARTNA.
This article is based on a press release statement filed with the SEC.
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