# EDGAR Filing Document

**Accession Number:** 0000863110
**File Stem:** 0000863110-26-000034
**Filing Date:** 2026-4
**Character Count:** 16302
**Document Hash:** 3515aaf34cb58f3940ffe8db9dec9c55
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000863110-26-000034.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0000863110-26-000034

**CONFORMED SUBMISSION TYPE**: 10-K/A

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARTESIAN RESOURCES CORP
- **CENTRAL INDEX KEY:** 0000863110
- **STANDARD INDUSTRIAL CLASSIFICATION:** WATER SUPPLY [4941]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 510002090
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-18516
- **FILM NUMBER:** 26826618

**BUSINESS ADDRESS:**
- **STREET 1:** 664 CHURCHMANS RD
- **CITY:** NEWARK
- **STATE:** DE
- **ZIP:** 19702
- **BUSINESS PHONE:** 3024536900

**MAIL ADDRESS:**
- **STREET 1:** 664 CHURCHMANS RD
- **CITY:** NEWARK
- **STATE:** DE
- **ZIP:** 19702

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K/A**

**(Amendment No. 1)**

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission file number 000-18516

![](image1.jpg)

**ARTESIAN RESOURCES CORPORATION**

**--------------------------------------------------------------**

(Exact name of registrant as specified in its charter)

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| | |
|:---|:---|
| **Delaware**  | **51-0002090**  |
| --------------------------------------------------------------------  | -------------------------------------------------  |
| (State or other jurisdiction of incorporation or organization)  | (I.R.S. Employer Identification No.)  |

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**664 Churchmans Road, Newark, Delaware 19702**

------------------------------------------------------------------

Address of principal executive offices

**(302) 453 – 6900**

-----------------------------------------------------------

Registrant's telephone number, including area code

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| | | |
|:---|:---|:---|
| Securities registered pursuant to Section 12(b) of the Act:  | Securities registered pursuant to Section 12(b) of the Act:  | Securities registered pursuant to Section 12(b) of the Act:  |
| **Title of each class** | **Trading Symbol (s)** | **Name of each exchange on which registered** |
| Common Stock | ARTNA | The Nasdaq Stock Market |

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Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

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| | | | |
|:---|:---|:---|:---|
| ☐  | Yes  |   | No  |

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Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

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| | | | |
|:---|:---|:---|:---|
| ☐  | Yes  |   | No  |

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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

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| | | | |
|:---|:---|:---|:---|
| ☑  | Yes  | ☐  | No  |

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Indicate by check mark whether the registrant has submitted electronically every Interactive Data file required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

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| | | | |
|:---|:---|:---|:---|
| ☑  | Yes  | ☐  | No  |

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12(b)-2 of the Exchange Act.

Large Accelerated Filer ☐ Accelerated Filer ☐ Non-Accelerated Filer ☑ Smaller Reporting Company ☑ <br> Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial report under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. 

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b) ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ☐ Yes  No

The aggregate market value of the Class A Non-Voting Common Stock and Class B Common Stock held by non-affiliates of the registrant at June 30, 2025 was $305,477,587 and $8,714,838, respectively. The aggregate market value of Class A Non-Voting Common Stock was computed by reference to the closing price of such class as reported on the Nasdaq Global Select Market on June 30, 2025, which trade date was June 30, 2025. The aggregate market value of Class B Common Stock was computed by reference to the last reported trade of such class as reported on the OTC Bulletin Board as of June 30, 2025, which trade date was June 25, 2025.

As of March 10, 2026, 9,436,930 shares of Class A Non-Voting Common Stock and 881,452 shares of Class B Common Stock were outstanding.

**EXPLANATORY NOTE**

Artesian Resources Corporation (the "Company") is filing this Amendment No. 1 ("Amendment") to its Annual Report on Form 10-K for the year ended December 31, 2025 (the "Original 10-K"), which was filed with the Securities and Exchange Commission (the "SEC") on March 16, 2026, solely to correct an error on the cover page regarding the Company's filer status.

Specifically, the Company erroneously checked the box indicating it is an Accelerated Filer. The purpose of this Amendment is to check the box indicating the Company is a Non-Accelerated Filer. This Amendment contains only the cover page, this explanatory note, the exhibit index, the signature page and the new certifications (as further explained in the last paragraph of this explanatory note).

Except for the foregoing, no other changes have been made to the Original 10-K, and this Amendment does not amend, update, or modify any other part of the Original 10-K, including the financial statements or disclosures therein. The Original Filing continues to speak as of the date of the Original Filing, and the Company has not updated the disclosures contained therein to reflect any events that have occurred as of a date subsequent to the date of the Original Filing. Accordingly, this Amendment should be read in conjunction with the Original 10-K.

In accordance with SEC rules, new certifications by the Company's principal executive officer and principal financial officer are filed herewith as exhibits 31.1 and 31.2 to this Amendment. As no financial statements have been included in this Amendment and this Amendment does not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraph 3 of the certifications has been omitted. The Company is not including certifications pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as no financial statements are being filed with this Amendment.

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| | |
|:---|:---|
| **ITEM 15.**  | **EXHIBITS, FINANCIAL STATEMENT SCHEDULES.**  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **EXHIBITS** 

We have filed the exhibits listed in the Exhibit Index below in this Form 10-K/A:

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| | |
|:---|:---|
|  | EXHIBIT LIST  |
| &nbsp;&nbsp; Exhibit <br> Number  | Description  |
| &nbsp;&nbsp;&nbsp;&nbsp; [31.1](exhibit311.htm)  | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. \*  |
| &nbsp;&nbsp;&nbsp;&nbsp; [31.2](exhibit312.htm)  | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. \*  |
| &nbsp;&nbsp;&nbsp; 104  | Cover Page Interactive Data File (embedded within the Inline XBRL document).  |

---

\*Filed herewith.

SIGNATURES

ARTESIAN RESOURCES CORPORATION

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | |
|:---|:---|
| Date April 1, 2026  | By: /s/ DAVID B. SPACHT  |
|  | David B. Spacht  |
|  | Chief Financial Officer (Principal Financial Officer)  |

---

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## Exhibit 31.1

**EXHIBIT 31.1**

**Certification of Chief Executive Officer of Artesian Resources Corporation, required** 

**by Rule 13a – 14(a) as adopted under the Securities and Exchange Act of 1934**

I, Nicholle R. Taylor, certify that:

* I have reviewed this Amendment No. 1 to Annual Report on Form 10-K for the period ended December 31, 2025 of Artesian Resources Corporation;

* Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

* [Omitted];

* The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

* The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| &nbsp;&nbsp; Date: April 1, 2026  | &nbsp;&nbsp; <u>/s/ NICHOLLE R. TAYLOR</u>  |
|  | &nbsp;&nbsp; Nicholle R. Taylor  |
|  | &nbsp;&nbsp; Chief Executive Officer (Principal Executive Officer)  |

---

## Exhibit 31.2

**EXHIBIT 31.2**

**Certification of Chief Financial Officer of Artesian Resources Corporation, required** 

**by Rule 13a – 14(a) as adopted under the Securities and Exchange Act of 1934**

I, David B. Spacht, certify that:

* I have reviewed this Amendment No. 1 to Annual Report on Form 10-K for the period ended December 31, 2025 of Artesian Resources Corporation;

* Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

* [Omitted];

* The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

* The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| &nbsp;&nbsp; Date: April 1, 2026  | &nbsp;&nbsp; /s/ David B. Spacht  |
|  | &nbsp;&nbsp; David B. Spacht  |
|  | &nbsp;&nbsp; Chief Financial Officer (Principal Financial Officer)  |

---