Middlesex Water (MSEX) executive compensation, 2026 proxy

Nadine Leslie, Chair, President and Chief Executive Officer, was paid $1.9M in 2025, up 53% from $1.2M the year before. The CEO-to-median-employee pay ratio was 24:1, on median employee pay of $80,119.

Filed
April 6, 2026
Annual meeting
May 19, 2026
Pay year
2025
Named executives
5
CEO total pay
$1.9M+53% vs prior year
CEO to median employee
24:1median $80,119
CEO pay in equity
36%$678,000 in awards
Prior say-on-pay support
86%of votes cast
2025 Net Income
$42.8MNet income for fiscal 2025
2025 Infrastructure Investment
$96.4MUtility infrastructure investments
Dividend Increases
53 YearsConsecutive years of dividend increases
CEO Change in Control Severance
$8,104,939Potential value upon termination after change in control

How Leslie was paid

$1.9M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary40%Stock awards36%Non-equity incentive22%All other compensation2%

Named executive officers

ExecutiveTotal
Nadine LeslieChair, President and Chief Executive Officer$1,906,024
Mohammed G. ZerhouniSenior Vice President, Chief Financial Officer and Treasurer$1,024,696
Gregory S. SorensenVice President, Chief Operating Officer$696,514
Jay L. KooperVice President, General Counsel and Secretary$586,243
Georgia M. SimpsonVice President, Information Technology and Chief Technology Officer$467,588

What changed and why

  • $1.9MCEO total compensation reached $1,906,024 for fiscal year 2025.
  • $42.8MNet income of $42.8 million and diluted EPS of $2.36 were delivered.
  • $96.4MThe company invested $96.4 million in utility infrastructure during the year.
  • 86.4%Shareholders approved the prior year advisory say-on-pay vote with 86.4% support.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.