York Water Co. Schedules Annual Shareholder Meeting for May 6, 2024

TL;DR

<b>York Water Company announces its Annual Shareholder Meeting details, including director elections and executive compensation votes.</b>

AI Summary

YORK WATER CO (YORW) filed a Proxy Statement (DEF 14A) with the SEC on March 22, 2024. The York Water Company will hold its Annual Meeting of Shareholders on May 6, 2024, at 1:00 p.m. local time. The meeting will take place at The Appell Center for the Performing Arts in York, Pennsylvania. Shareholders will vote on the election of four (4) Directors to three-year terms. The appointment of Baker Tilly US, LLP as the independent registered public accounting firm for fiscal year 2024 will be ratified. An advisory vote to approve the executive compensation of named executive officers is also on the agenda.

Why It Matters

For investors and stakeholders tracking YORK WATER CO, this filing contains several important signals. This meeting is a key governance event where shareholders exercise their voting rights on critical company matters. The outcome of the director elections and the advisory vote on executive compensation can signal shareholder confidence and influence future company leadership and pay structures.

Risk Assessment

Risk Level: — YORK WATER CO shows moderate risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational risks indicated.

Analyst Insight

Shareholders should review the proxy materials to make informed voting decisions on director nominees and executive compensation.

Key Numbers

• 4 — Directors to be elected (To serve three-year terms)
• 2024 — Fiscal year for auditor ratification (For Baker Tilly US, LLP)

Key Players & Entities

• YORK WATER CO (company) — Registrant name
• Baker Tilly US, LLP (company) — Independent registered public accounting firm
• May 6, 2024 (date) — Annual Meeting date
• February 29, 2024 (date) — Record date for shareholders
• March 22, 2024 (date) — Filing date

FAQ

Industry Context

The York Water Company operates in the water supply industry, providing essential utility services.

Regulatory Implications

The filing is made under SEC Rule 14a-101, pertaining to proxy statements required for shareholder meetings under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the list of director nominees and their qualifications.
2. Understand the advisory vote proposal on executive compensation.
3. Ensure your shares are represented by voting by proxy or attending the meeting.

Key Dates

• 2024-05-06: Annual Meeting of Shareholders — Shareholders will vote on key proposals including director elections and executive compensation.
• 2024-02-29: Record Date — Determines shareholders eligible to vote at the Annual Meeting.
• 2024-03-22: Filing Date — Date the definitive proxy statement was filed with the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard definitive proxy statement for an annual meeting, indicating routine corporate governance activity.

Filing Documents

• bodydef14a2024.htm (DEF 14A) — 341KB
• bonney.jpg (GRAPHIC) — 116KB
• brossman.jpg (GRAPHIC) — 16KB
• chiaruttinisignature.jpg (GRAPHIC) — 8KB
• ewaters.jpg (GRAPHIC) — 3KB
• gang.jpg (GRAPHIC) — 159KB
• hand.jpg (GRAPHIC) — 136KB
• hines.jpg (GRAPHIC) — 143KB
• hodges.jpg (GRAPHIC) — 144KB
• keller.jpg (GRAPHIC) — 136KB
• lwand.jpg (GRAPHIC) — 3KB
• mcglaughlin.jpg (GRAPHIC) — 142KB
• proxycardpage1.jpg (GRAPHIC) — 78KB
• proxycardpage2.jpg (GRAPHIC) — 81KB
• rasmussen.jpg (GRAPHIC) — 188KB
• 0000108985-24-000028.txt (&nbsp;) — 2207KB

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 2 Proposal 1: Election of Directors 4 Executive Officers of the Company 10 Corporate Governance 11 Board Selection and Diversity 11 Director Independence 12 Board Leadership Structure 13 Board Role in Risk Oversight 14 Board Committees and Functions 14 Communication With the Board of Directors 15 Executive Sessions of the Board 15 Stock Ownership 15 Code of Ethics 15 Report of the Audit Committee 16 Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm 17 Compensation of Directors and Executive Officers 18 Summary Compensation Table 19 2023 Outstanding Equity Awards at Fiscal Year End 23 Retirement Benefits 24 Potential Payments Upon Termination or Change in Control 26 Director Compensation 28 Pay versus Performance 29 Proposal 3: Provide an Advisory Vote to Approve the Executive Compensation of the Company's Named Executive Officers 31 Discretionary Authority 32 Shareholder Proposals and Nominations for Directors 32 Other Matters 32 THE YORK WATER COMPANY 130 EAST MARKET STREET YORK, PENNSYLVANIA 17401 March 26, 2024 PROXY STATEMENT This Proxy Statement and the accompanying form of proxy are being furnished to the shareholders of The York Water Company (hereinafter referred to as the "Company") in connection with the solicitation of proxies by the Board of Directors of the Company, whereby shareholders would appoint Paul R. Bonney, Esq., Jody L. Keller, SPHR, and Steven R. Rasmussen, CPA as Proxies on behalf of the shareholders, to be used at the Annual Meeting of the Shareholders of the Company to be held at The Appell Center for the Performing Arts, 50 North George Street, York, Pennsylvania 17401 at 1:00 p.m. on Monday, May 6, 2024 (the "Annual Meeting"), and at any adjournment thereof. Solicitation of proxies will be made by mail, telephone, and intern

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth certain information regarding the beneficial ownership of the Company's common stock as of February 29, 2024, by (1) each person known to the Company to be the beneficial owner of more than 5% of the common stock of the Company; (2) each director, director nominee and executive officer named in the summary compensation table included elsewhere herein; and (3) all executive officers, directors and director nominees as a group. The information appearing in the following table with respect to beneficial ownership of common stock of the Company has been furnished to the Company by the four nominees, the seven Directors continuing in office, and the five executive officers, and from statements filed with the Securities and Exchange Commission ("SEC") pursuant to Section 13(d) or 13(g) of the Exchange Act, all as of February 29, 2024. Table of Contents 2 The table includes shares owned or beneficially owned by the respective individuals as of February 29, 2024. No individual has a specific right to acquire beneficial ownership of any additional shares within 60 days from such date. Number of Shares Percent of Total Beneficially Owned (1) Shares Outstanding (2) 1) Certain beneficial BlackRock, Inc. 55 East 52 nd Street New York, NY 10055 1,495,530 (3 ) 10.43 The Vanguard Group, Inc. 100 Vanguard Blvd. Malvern, PA 19355 837,153 (4 ) 5.84 Zimmer Accounts 9 West 57 th Street, 33 rd Floor New York, NY 10019 790,435 (5 ) 5.51 2) Directors, director nominees and named executive officers: Paul R. Bonney, Esq. 175 0.00 Douglas S. Brossman 27 0.00 Alexandra C. Chiaruttini, Esq. 2,358 0.02 Michael W. Gang, Esq. 12,360 (6 ) 0.09 Joseph T. Hand 29,859 (7 ) 0.21 Jeffrey R. Hines, P.E. 75,157 (8 ) 0.52 George W. Hodges 4,226 (9 ) 0.03 Jody L. Keller, SPHR 4,164 (10 ) 0.03 Erin C. McGlaughlin 2,361 (11 ) 0.02 Ma

View Full Filing

View this DEF 14A filing on SEC EDGAR