Company: MSEX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001174947-25-000561
Chunk: 26

Company: MIDDLESEX WATER CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 26
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 served as a presenting sponsor of the 15th Annual Bowl for Hunger which raised more than $168,000 for 30 area food pantries. |

| • | Middlesex sponsored the Women’s Leadership Connection, Success Strategies for Women event in coordination with the Woodbridge Chamber 
 of Commerce.                                                                                                                          |

| • | Tidewater’s 16th Annual Charity Golf Outing raised $35,000 to benefit the Food Bank of Delaware to combat food insecurity. |

The Board maintains overall oversight of the Company’s business strategy while the Corporate Governance and Nominating Committee oversees matters related to ESG and overall sustainability including Enterprise Risk Management. We seek to mitigate risks related to environmental impact and climate variability, workforce safety, cybersecurity, and work to actively promote belonging.

| • | To better understand market perceptions of the Company’s strategy, it embarked on an Investor perception study soliciting feedback 
 from buyside and sellside analysts.                                                                                                |

| • | The Company’s 10-person Board includes 4 women, and its 10 person Executive management team also includes 4 women. |

| • | In November 2024, Middlesex filed with the SEC announcing revision in its Change of Control agreements with its Executive team members. |

| • | Board committee and director performance evaluations are conducted annually. |

| • | Board oversight of corporate culture, human capital management, ESG, cybersecurity and risk management |

| • | All employees are required to annually review, sign and attest to a Code of Conduct and Insider Trading policy. |

| • | Board members receive ongoing director education. |

| • | Company Statements regarding our Human Rights Policy and Whistleblower Hotline can be readily found on our website. |

| • | Stock ownership requirements are in place for Board members and Executive management. |

Middlesex Water Company 21 2025 Proxy Statement Our Approach to Executive Compensation What We Do

| ☑ | Executive Compensation Philosophy |

We balance our need to appropriately serve our customers against our need to deliver long-term shareholder value.

| ☑ | Targeted Compensation |

We benchmark total compensation to the 50 thpercentile of our comparator group.

| ☑ | Align Pay with Our Performance |

Earnings Before Income Taxes is the financial metric on which incentive compensation is based for Named Executive Officers (NEOs). Such annual target amount is approved by the Board. Incentive compensation awards to NEOs, other than the CEO, are based 60% on achieving the financial metric and 40% on achievement of operational, service,