Company: MSEX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001174947-25-000561
Chunk: 43

Company: MIDDLESEX WATER CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 43
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 benefits within sixty days after the Executive terminates employment with the Company or its successor.

| Name                  |               Compensation Paid 
       During Calendar Year 2024 
 (using definition of “Compensa- 
      tion” under the Agreement) 
                             ($) |     Termination 
   Before Second 
 Anniversary (1) 
             ($) |
| Dennis W. Doll (2)    |                               — |               — |
| Nadine Leslie         |                         824,423 |       4,686,995 |
| A. Bruce O’Connor (3) |                               — |               — |
| Mohammed G. Zerhouni  |                         376,634 |       1,499,915 |
| Jay L. Kooper         |                         428,591 |       1,036,469 |
| Georgia M. Simpson    |                         353,441 |         877,800 |
| Robert K. Fullagar    |                         371,477 |         898,791 |

| (1) | Compensation and other benefits paid following termination on or before the second anniversary of the Change in Control. |

| (2) | Mr. Doll retired on February 29, 2024. |

| (3) | Mr. O’Connor retired on June 21, 2024 |

Middlesex Water Company 32 2025 Proxy Statement PAY FOR PERFORMANCE COMPARISON As discussed in the CD&A above, our Compensation Committee has implemented an Executive compensation program designed to link a substantial portion of our NEO’s realized compensation to the achievement of our strategic financial, operational and strategic objectives, and to align our Executive pay with changes in the value of our shareholders’ investments. The following table sets forth additional compensation information for our NEOs, calculated in accordance with SEC regulations, for fiscal years 2024, 2023, 2022, 2021, and 2020.

| Year 
 (a)  |     | Summary            
 Compensation Table 
 Total for CEO      
 (b)                |           |     | Compensation         
 Actually Paid to CEO 
 (c)                  |           |     | Average Summary    
 Compensation Table 
 Total for non-CEO  
 NEOs               
 (d)                |         |     | Average          
 Compensation     
 Actually Paid to 
 non-CEO NEOs     
 (e)              |         |     | Value of Initial Fixed $100 Investment Based On: 
 Total Shareholder                                
 Return                                           
 (f)                                              |        |     | Peer Group Total