Duchemin-Leslie Nadine 4

What Happened

• Nadine Duchemin‑Leslie, President & CEO of Middlesex Water Co. (MSEX), had restricted stock vest and the filing shows two linked transactions on March 3, 2026. A total of 6,966 restricted shares vested. Of those, 4,630 shares were surrendered/disposed to the issuer to satisfy tax withholding (disposition valued at $252,567 at $54.55 per share) and 2,336 shares were issued/retained by the insider (acquired value ~$127,429 at $54.55 per share). This is a routine vesting and tax-withholding action, not an open-market sale.

Key Details

• Transaction date: March 3, 2026; per-share price used: $54.55 (closing price on March 2, 2026).
• Vested shares: 6,966 total; 4,630 surrendered to cover taxes; 2,336 delivered to the reporting person.
• Reported values: surrendered 4,630 shares ≈ $252,567; retained 2,336 shares ≈ $127,429.
• Transaction codes: J = other acquisition/disposition (surrender of shares); F = payment of tax liability/tax withholding.
• Footnotes: F1 indicates the shares were restricted stock that vested; F2 notes the price used; F3 explains shares were surrendered to the issuer to satisfy withholding.
• Filing timeliness: Report lists period and filing date as March 3, 2026 — appears to be filed promptly.

Context

• This was a vesting/tax-withholding transaction (a cashless-like settlement) rather than a market sale or a purchase signaling new bullish ownership. For retail investors, such insider activity is routine compensation mechanics and does not necessarily indicate the CEO’s view of the company’s stock price.