Company: MSEX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001174947-25-000561
Chunk: 30

Company: MIDDLESEX WATER CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 30
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 Executive Officer also provides individual performance assessments for the other NEOs, and expresses to the Compensation Committee recommendations for changes in compensation for all officers of the Company, other than herself, based on individual performance. The Compensation Committee periodically communicates directly with independent compensation Middlesex Water Company 23 2025 Proxy Statement consultants, providing such consultants with Company-specific and market- based information. Certain portions of such information may be provided by the Vice President - Human Resources or the Chief Executive Officer, in assisting in the evaluation of the estimated effect on the Company’s results of operations regarding any proposed changes to the various elements of compensation. An Executive compensation study was last conducted by Aon, an independent firm specializing in Executive compensation, in January 2025 . Executives participate in Committee activities solely in an informational and advisory capacity, and have no vote in the Committee’s decision-making process. The Chief Executive Officer, Chief Financial Officer and Vice President - Human Resources do not attend those portions of Compensation Committee meetings during which their performance is evaluated or their compensation is determined. No Executive Officer other than the Chief Executive Officer and Chief Financial Officer attends those portions of Compensation Committee meetings during which the performance of the other officers is evaluated or their compensation is determined. In addition, the Compensation Committee meets in Executive session as it considers appropriate. Use of Consultants The Compensation Committee periodically engages independent compensation consultants to assist in the compensation process for officers. The consultants are retained by, and report directly to, the Compensation Committee. The Chair of the Compensation Committee serves as the designated primary contact with compensation consultants. The Chief Executive Officer or the Vice President of Human Resources may assist the Chair of the Compensation Committee in providing certain company data to the compensation consultants, when requested to do so by the Compensation Committee. The Compensation Committee places no restrictions on compensation consultants within the scope of contracted services and such consultants are not engaged by management for any purpose. The compensation consultants provide expertise and information about competitive trends in the employment marketplace, including established and emerging compensation practices at other companies both inside and outside the Company’s comparator group. The compensation consultants also provide Proxy Statement and survey data, and assist in assembling relevant companies to be included in the comparator groups. In addition, the compensation consultants also assist in establishing benchmarks for base salary and incentives from the comparator group based on those companies’ proxy statements and from survey data. Compensation Program Objectives and Philosophy

| Objectives                                                                                  |
| • Attract,                                                                                  
 retain and appropriately motivate employees                                                 
 • Compensate                                                                                
 executives for long-term improvement in overall shareholder value                           
 • Provide