Company: MSEX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001174947-25-000561
Chunk: 17

Company: MIDDLESEX WATER CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 17
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 of our shareholders. Directors are required to hold common stock valued at least three times the amount of the annual retainer by the fifth anniversary of Board membership. All outside directors met this requirement for 2024. Middlesex Water Company 10 2025 Proxy Statement CORPORATE GOVERNANCE Key Highlights

| » | All Directors are independent, other than the Company CEO and Chairman.          |
| » | Independent Lead Director                                                        |
| » | Board Committees are comprised entirely of independent directors                 |
| » | Commitment to corporate social responsibility and sustainability                 |
| » | Advisory vote on Named Executive Officer compensation is held on an annual basis |
| » | Prohibitions against hedging and borrowing against Company stock                 |
| » | Stock ownership requirements for Directors and Executive Officers                |
| » | Compensation Committee oversees alignment of pay to performance                  |
| » | Transparent process for shareholder communications with the Board                |

Code of Ethics andCorporate Governance Guidelines Management of the Company is under the general direction of the Board who are elected by the shareholders. The Company’s business is managed under the direction of the Board in accordance with the New Jersey Business Corporation Act and our Certificate of Incorporation and By-laws. Members of the Board are kept apprised of our business through discussions with the President & and Chief Executive Officer and other Company Officers, by reviewing briefing materials and other relevant information provided to them, and by participating in meetings of the Board and its Committees. Code of Business Conduct Our Company Code of Conduct (the “Code”) includes guidelines of behavior for Board members as well as vendors and suppliers. All Directors and employees were required to review the Code and affirm, with their signature, that they read and understood the provisions of the Code. Employees receive ongoing education about the Code and are advised they have an ongoing obligation to consult with the General Counsel over any question or potential conflict of interest. In addition, the Company has an internal Ethics Hotline where Code violations may be reported by any employee or member of the general public without fear of retaliation. The Company’s Code, as well as the charters for the Audit, Compensation, Corporate Governance & Nominating, and Pension Committees, are available on our website www.MiddlesexWater.com under the heading Investors - (Governance). We also make this information available in print to any shareholder upon request. Requests should be addressed to Corporate Secretary, Middlesex Water Company, 485C Route 1 South, Suite 400, Iselin, New Jersey 08830-0452. Board Leadership Structure