BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America (NYSE: WTR) announced today that Chairman, President and
CEO Nicholas DeBenedictis has exercised vested stock options that had
been awarded to him between 2004 and 2010, and sold the shares of common
stock acquired. The transactions were made for personal long-term
financial planning reasons and to allow for more diversity and liquidity
in his personal holdings. To effect the transactions, DeBenedictis used
Aqua America shares that he owned to satisfy some of the exercise and
withholding obligations, with the goal of minimizing the market impact
of the transactions. As a result, the net impact of the sale
transactions have a slightly accretive effect on earnings per share.
DeBenedictis and his spouse continue to have significant ownership
interests (782,150 shares) in Aqua America in addition to the shares
that were exercised and sold (99,176). Additionally, DeBenedictis
exceeds the stock ownership guidelines approved by Aqua America's Board
of Directors by five times.
Aqua America is one of the largest U.S.-based, publicly-traded water
utilities and serves almost 3 million residents in Pennsylvania, Ohio,
North Carolina, Illinois, Texas, New Jersey, Indiana, Virginia, Florida
and Georgia. Aqua America is listed on the New York Stock Exchange under
the ticker symbol WTR. Visit www.aquaamerica.com
for more information.
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including, among
others: the projected market impact of the transactions and the
estimated effect on the Company's earnings per share. There are
important factors that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements
including: general economic business conditions; availability and the
cost of capital; disruptions in the credit markets; the success of
growth initiatives; and other factors discussed in our Annual Report on
Form 10-K for the period ending December 31, 2012, which is on file with
the SEC. We undertake no obligation to publicly update or revise any
forward-looking statement.
WTRF
Brian Dingerdissen, 610-645-1191
Director, Investor Relations
bjdingerdissen@aquaamerica.com
or
Donna
Alston, 610-645-1095
Manager, Communications
dpalston@aquaamerica.com
Source: Aqua America
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