Company: MSEX
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001104659-25-071727
Chunk: 27

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-29
Form: 424B5
Chunk 27
---
 your statement. Upon termination, you must elect either (a) to receive a certificate for the number of whole shares held in
your Plan account and a check for the value of any fractional share (which value will be based on the current market price of the Common
Stock), or (b) to have all of the shares in your Plan account sold for you.

If you request that your
shares be sold, the Plan Agent will arrange for the sale in the market, if practicable, within ten (10) trading days after receipt
of the request. You will receive the proceeds of sale, less any brokerage commission, sales fee(s), and transfer tax. Receipt by the
Plan Agent of due notice of a participant’s death or incompetence shall be deemed a notice of withdrawal. Because the Plan Agent
will arrange for the sale of shares on behalf of the Plan, neither the Company nor any participant under the Plan has the authority or
power to control the timing or pricing of sales, or the selection of the broker-dealer making the sales. Therefore, you will not be able
to precisely time your sales through the Plan, and will bear the market risk associated with fluctuation in the price of the Common Stock.
The price of the Common Stock could go up or down before the broker sells your shares. In addition, you will not earn interest on any
cash proceeds generated by a sales transaction for your account.

<div align='center'>S-22</div>

Participants should be aware that the share price may fluctuate between the time your transaction request is received and the time the transaction is carried out on the open market. This price risk will be borne solely by you. The Plan Agent may, but is not obligated to, accept written requests to revoke transaction requests.

Any certificates issued upon
termination will be issued in the name or names in which the account is registered, unless otherwise instructed. If the certificate is
to be issued in a name other than the name or names on your Plan account, your signature (and that of any co-owner) on the instructions
or stock power must be “Medallion Guaranteed” by a financial institution participating in the Medallion Guarantee program
(See Question 32). If a shareholder cannot provide a Medallion signature guarantee, a waiver request can be submitted by the shareholder
and the Company would have to sign an indemnity letter in order for the Plan Agent to proceed. You will be responsible for any applicable
taxes in connection with the transfer. No certificates will