Company: MSEX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001174947-25-000561
Chunk: 20

Company: MIDDLESEX WATER CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 20
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 of this rule, “family member” means a person’s spouse, parents, children and siblings, whether by blood, marriage or adoption, or anyone residing in such person’s home. As defined by Nasdaq corporate governance requirements, a member of the Board is not independent if the Director:

| ✔ | Is, or at any time during the past three years, has been employed by the Company.                                                                                                                                                                                                                                                                                                             |
| ✔ | Has accepted, or has a family member that has accepted any compensation from the Company in excess of $120,000 during any period of twelve consecutive months within the three years preceding the determination of independence.                                                                                                                                                             |
| ✔ | Is a family member of an individual who is, or at any time during the past three years was, employed by the Company as an Executive Officer.                                                                                                                                                                                                                                                  |
| ✔ | Is, or has a family member who is, a partner in, or a controlling Shareholder or an Executive Officer of, any organization to which the Company made, or from which the Company received, payments for property or services in the current or any of the past three fiscal years that exceed 5% of the recipient’s consolidated gross revenues for that year, or $200,000, whichever is more. |
| ✔ | Is, or has a family member who is, employed as an Executive Officer of any other entity where at any time during the past three years any of the officers of the Company serve on the compensation committee of such other entity.                                                                                                                                                            |
| ✔ | Is, or has a family member who is, a current partner of the Company’s independent auditor, or was a partner or employee of the Company’s independent auditor who worked on the Company’s audit at any time during any of the past three years.                                                                                                                                                |

With the exception of Mr. Doll, who was an Executive Officer of the Company through his retirement on February 29, 2024, and Ms. Leslie, who became President & CEO, effective March 1, 2024, the Board has determined that each member of the Board is independent under the Nasdaq listing standards. The Board based this determination primarily on a review of the responses of the Directors to a comprehensive annual questionnaire regarding employment and compensation history, affiliations, family and other relationships, together with an examination of those companies with whom the Company transacts business. The Directors certify individually as to their representations. Disclosure of Family Relationships and Related Party Transactions The NASDAQ Corporate Standards and the Company’s Code of Conduct require that Directors and Officers avoid having