Company: MSEX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001174947-25-000561
Chunk: 16

Company: MIDDLESEX WATER CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 16
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 |         $ 5,000 |
| All other Chairpersons          |         $ 2,500 |

| (1) | The annual retainer of $75,000 consists of a cash compensation component of $30,000, contingent upon Board meeting attendance, and a 
 common stock compensation component of $45,000.                                                                                      |

The Board committee meeting fees for Outside Directors is $750 cash compensation per Director for each Board committee meeting attended. Director Compensation Table The following table details Director compensation for 2024.

| Name                  |     Fees earned 
 or paid in cash 
             ($) | Common 
  Stock 
    ($) |        Total 
 Compensation 
          ($) |
| Joshua Bershad, M.D.  |          33,000 | 45,000 |       78,000 |
| James F. Cosgrove Jr. |          41,000 | 45,000 |       86,000 |
| Dennis W. Doll*       |          35,000 | 37,485 |       72,485 |
| Kim  C. Hanemann      |          39,250 | 45,000 |       80,250 |
| Steven M. Klein       |          51,750 | 45,000 |       96,750 |
| Amy B. Mansue         |          44,500 | 45,000 |       89,500 |
| Vaughn L. McKoy       |          36,750 | 45,000 |       81,750 |
| Ann L. Noble          |          40,500 | 45,000 |       85,500 |
| Walter G. Reinhard    |          52,500 | 45,000 |       97,500 |

*Mr. Doll’s $35,000 cash compensation includes a $10,000 Board Chair fee that Mr. Doll became eligible for upon his becoming a non-executive Chairman effective March 1, 2024. Director Equity Ownership Except as noted above with respect to Ms. Leslie, as part of their annual compensation, each Director received Company common stock valued at $45,000. (Mr. Doll received Company common stock valued at $37,485 to reflect the 10 months of 2024 where Mr. Doll served as a non-Executive Director on the Board.) The Board believes that all Directors should maintain a meaningful ownership stake in the Company to underscore the importance of aligning their long-term interests with those