SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                    Form 8-K





                Current Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934


         Date of Report (Date of earliest event reported): May 12, 2002
                                                           ------------

                        Philadelphia Suburban Corporation
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                 (Exact name of registrant specified in Charter)





             Pennsylvania                             001-06659                             23-1702594
- ---------------------------------------- ------------------------------------- -------------------------------------
                                                                                          
            (State or other                          (Commission                         (I.R.S. Employer
            jurisdiction of                          File Number)                      Identification No.)
            incorporation)



              762 W. Lancaster Avenue, Bryn Mawr, Pennsylvania                                19010
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                  (Address of principal executive offices)                                   Zip Code



           Registrant's telephone, including area code: (610) 527-8000
                                                        --------------

                                 Not Applicable
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         (Former name and former address, if changed since last report)



Item 5.  Other Events.

         The Press Release issued by the Registrant on May 12, 2002 announcing a
         change in the investment strategy of Registrant's long-term
         shareholder, Vivendi Environnement, is incorporated herein by
         reference.






                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                    PHILADELPHIA SUBURBAN CORPORATION


Dated: May 14, 2002                 By: /s/ Roy H. Stahl
                                       --------------------------------
                                        Name:  Roy H. Stahl
                                        Title: Executive Vice President
                                               and General Counsel












                                  EXHIBIT INDEX

Exhibit No.                         Exhibit                               Page
- -----------                         -------                               ----

                Press Release dated May 12, 2002 announcing a               5
                change in the investment strategy of Registrant's
                long-term shareholder, Vivendi Environnement