Independent
Tenure on this board
5.6 yrs
Meeting calendar
MSEX · Annual meeting · Tuesday, May 19, 2026
Middlesex Water Co
4 nominees · 3 ballot items.
Election of four directors; Advisory (non-binding) vote to approve Named Executive Officers compensation (Say-on-Pay); Ratification of appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm.
Market cap
$1.1B
1Y TSR
+4.4%
Board grade
C
Record date
Mar 24, 2026
Filing
DEF 14A
Meeting concluded · May 19, 2026
Follow how the vote landed and what changed on Middlesex Water Co’s board — director track records, governance grades, and ongoing monitoring — on the Boardroom Alpha platform.
Proposals
On the ballot3
- 1
Election of Directors
ManagementBoard: FORElection of one Class II director for a two-year term and three Class III directors for three-year terms (four nominees: Joshua Bershad, M.D.; James F. Cosgrove, Jr.; Vaughn L. McKoy; Robert Hoglund).
- 2
Non-Binding Proposal to Approve the Compensation of Our Named Executive Officers
ManagementBoard: FORAdvisory (non-binding) 'say-on-pay' vote to approve the compensation of the company's Named Executive Officers as disclosed in the proxy statement.
More detail
This management proposal seeks non-binding shareholder approval of the compensation of the company’s Named Executive Officers as disclosed in the proxy’s CD&A and compensation tables. Management (Compensation Committee) requests the advisory vote to confirm that its compensation program — which includes base salary, a newly introduced short-term cash incentive for 2025, and long-term restricted stock awards tied to diluted EPS and capital investment delivery — is aligned with shareholder interests and performance. The Committee argues that the program uses balanced, multi-factor metrics (net income, operational metrics, individual goals) to promote pay-for-performance, includes governance safeguards such as clawback provisions and ownership guidelines, and that its peer-reviewed design is market-competitive. Management notes 2025 achievements (net income $42.8M, 53rd year of dividend increases, infrastructure investments) as justification for payouts and awards materially above target in some cases, and it highlights robust target-setting and committee oversight. The vote is non-binding; the Board urges shareholders to vote FOR and will consider results in future compensation decisions.
- 3
Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm
ManagementBoard: FORRatify the Audit Committee’s appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026.
Director elections
Nominees on the ballot4
Independent
Tenure on this board
15.8 yrs
Independent
Tenure on this board
5.0 yrs
Independent
Tenure on this board
0.5 yrs
Also a director at
Portland General Electric Co (POR)
Ownership
Latest 13F quarterTop institutional holders10
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | BlackRock, Inc. | 10.4% | 1,944,728 | $101M |
| 2 | T. Rowe Price Investment Management, Inc. | 9.4% | 1,742,092 | $91M |
| 3 | Neuberger Berman Group LLC | 8.3% | 1,549,906 | $81M |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 4.4% | 827,953 | $43M |
| 5 | STATE STREET CORP | 4.0% | 744,062 | $39M |
| 6 | MORGAN STANLEY | 3.7% | 695,811 | $36M |
| 7 | BlackRock, Inc. | 2.8% | 522,783 | $27M |
| 8 | VANGUARD PORTFOLIO MANAGEMENT LLC | 2.6% | 488,067 | $25M |
| 9 | GEODE CAPITAL MANAGEMENT, LLC | 2.2% | 403,148 | $21M |
| 10 | Legal General Group Plc | 2.0% | 374,352 | $19M |
Peers
Nearest market capOther Utilities sector meetings6
Upcoming shareholder meetings at Middlesex Water Co’s closest sector peers — compare boards, ballots, and ownership across the cohort.
Xplr Infrastructure LPXIFR
Annual meeting·May 6, 2026·$1.1B
Unitil CorpUTL
Annual meeting·Apr 29, 2026·$981M
Energy Vault Holdings IncNRGV
Annual meeting·May 29, 2026·$549M
York Water CoYORW
Annual meeting·May 4, 2026·$510M
Terrestrial Energy IncIMSR
Annual meeting·Jun 11, 2026·$490M
Consolidated Water Co LtdCWCO
Annual meeting·Jun 1, 2026·$467M
Reference
Frequently asked questions
- When is the Middlesex Water Co 2026 annual meeting?
- Middlesex Water Co (MSEX) holds its 2026 annual shareholder meeting on Tuesday, May 19, 2026.
- What is the record date for the Middlesex Water Co 2026 meeting?
- The record date for the Middlesex Water Co 2026 meeting is Tuesday, March 24, 2026. Shareholders of record on or before that date are eligible to vote.
- Who are the director nominees for Middlesex Water Co's 2026 meeting?
- The board is presenting 4 director nominees at the Middlesex Water Co 2026 meeting, listed with their independence status and background.
- What proposals will shareholders vote on at the Middlesex Water Co 2026 meeting?
- Shareholders will vote on 3 proposals at the Middlesex Water Co 2026 meeting, each tagged with who proposed it and the board's recommendation.
Disclaimer
The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.
This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.
None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.
No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.