VVelarionINTELLIGENCE
Sign inStart free trial
Start free trial

Middlesex Water Executive Compensation (FY25)

MSEX · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Nadine Leslie
Latest say-on-pay support
=
May 19, 2026
Chief executive pay ratio
◇
To the median employee
Velarion Intel, $5,000/year: one seat · one year · every company we cover, with dashboards, peer screens and board-ready briefs.
See every company’s exec pay — free for 3 days, no cardSee the plan and pricing
Email me this page as a cited PDF — sent in 2 minutes
The same figures, the same citations, formatted to hand to a committee. Nothing is added that is not on this page.
Your address is used for this and nothing else. Unsubscribe in one click.

The paid brief on Middlesex Water

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$500 for the Executive Compensation Report. Both reports for $900.
Get the executive briefGet the board briefNo account needed.
Data as of November 6, 2026Latest filing (8-K): May 20, 2026
14 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Middlesex Water brief$500Get the executive brief
Velarion Intel, one year, every company
207 figures on this page: 196 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

More on Middlesex Water

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Nadine Leslie: $1,677,576 → $1,906,024 (13.6% higher)
Say-on-pay support: 86.4% → 93.1% (6.7 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Middlesex Water's chief executive and what were they paid?
Nadine Leslie was paid $1,906,024 in total compensation as Chair, President and Chief Executive Officer for fiscal 2025. Leslie's total was 13.6% higher than the $1,677,576 reported for fiscal 2024.
What was Middlesex Water's say-on-pay result?
Shareholders supported the say-on-pay proposal with 93.1% of votes cast for or against in favor at the meeting held May 19, 2026 for fiscal 2025.
Which companies are in Middlesex Water's peer group?
Companies named in the disclosed peer group include Altus Power, Inc., American States Water Company, Artesian Resources Corporation, Chesapeake Utilities Corporation and Consolidated Water Co. Ltd., among others. The additional disclosed peer group includes Altus Power, Inc., American States Water Company, Artesian Resources Corporation, Chesapeake Utilities Corporation and Consolidated Water Co. Ltd., among others.
What is Middlesex Water's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 23.8:1, against median employee compensation of $80,119.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dennis Doll
Chairman
◇—◇———◇◇
A. Bruce O'Connor
Sr. Vice President, Treasurer and Chief Financial Officer
◇—◇———◇◇
Jay Kooper
Vice President, General Counsel & Secretary
◇—◇———◇◇
Robert Fullagar
President New Jersey Operations
◇—◇———◇◇
Georgia Simpson
Vice President Information Technology
◇—◇———◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dennis Doll
Chairman
◇◇———◇◇◇
A. Bruce O'Connor
Sr. Vice President, Treasurer and Chief Financial Officer
◇◇———◇◇◇
Robert Fullagar
Vice President Operations
◇—◇——◇◇— not reconciled
Jay Kooper
Vice President, General Counsel & Secretary
◇—◇———◇◇
Georgia Simpson
Vice President Information Technology
◇—◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Nadine Leslie
President and Chief Executive Officer
◇◇◇———◇◇
Mohammed Zerhouni
Vice President, Treasurer and Chief Financial Officer
◇◇◇———◇◇
A. Bruce O’Connor
Vice President, Treasurer and Chief Financial Officer
◇◇———◇◇◇
Dennis Doll
Chairman
◇————◇◇◇
Jay Kooper
Vice President, General Counsel & Secretary
◇◇◇———◇◇
Robert Fullagar
President New Jersey Operations
◇◇◇——◇◇◇
Georgia Simpson
Vice President Information Technology
◇◇◇———◇◇
Gregory Sorensen
Vice President, Chief Operating Officer
——◇————◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Nadine Leslie
Chair, President and Chief Executive Officer
◇—◇—◇—◇◇
Mohammed Zerhouni
Senior Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Gregory Sorensen
Vice President, Chief Operating Officer
◇———◇—◇◇
Jay Kooper
Vice President, General Counsel and Secretary
◇—◇—◇—◇◇
Georgia Simpson
Vice President, Information Technology and Chief Technology Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Georgia M. SimpsonRSU◇——◇———
Gregory S. SorensenRSA——————◇
Jay L. KooperRSU◇——◇———
Mohammed G. ZerhouniRSU◇——◇———
Nadine LeslieRSU◇——◇———
Nadine LeslieRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Nadine LeslieRSU◇◇——
Jay KooperRSU◇◇——
Georgia SimpsonRSU◇◇——
Mohammed ZerhouniRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven M. Klein
◇◇————◇
Amy B. Mansue
Lead independent director
◇◇————◇
Joshua Bershad, M.D
◇◇————◇
Kim C. Hanemann
◇◇————◇
Walter G. Reinhard
◇◇————◇
Ann L. Noble
◇◇————◇
James F. Cosgrove Jr
◇◇————◇
Vaughn L. McKoy
◇◇————◇
Dennis W. Doll
◇◇————◇
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Common Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Altus Power, Inc. AMPS
  • American States Water Company AWR
  • Artesian Resources Corporation symbol not shown
  • Chesapeake Utilities Corporation CPK
  • Consolidated Water Co. Ltd. CWCO
  • Genie Energy Ltd. GNE
  • Global Water Resources, Inc. GWRS
  • H2O America (formerly SJW Group) symbol not shown
  • MGE Energy, Inc. MGEE
  • Montauk Renewables, Inc. MNTK
  • Northwest Natural Holding Company NWN
  • RGC Resources, Inc. RGCO
  • The York Water Company YORW
  • Unitil Corporation UTL
Additional disclosed peer group
  • Altus Power, Inc. AMPS
  • American States Water Company AWR
  • Artesian Resources Corporation ARTNA
  • Chesapeake Utilities Corporation CPK
  • Consolidated Water Co. Ltd. CWCO
  • Genie Energy Ltd. GNE
  • Global Water Resources, Inc. GWRS
  • MGE Energy, Inc. MGEE
  • Montauk Renewables, Inc. MNTK
  • Northwest Natural Holding Company NWN
  • RGC Resources, Inc. RGCO
  • The York Water Company YORW
  • Unitil Corporation UTL
Peer Group (supplemental)
  • California Water Service Group CWT

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 19, 2026=◇◇◇
2024May 20, 2025=◇◇◇
2023May 21, 2024=◇◇◇
2022May 23, 2023=◇◇◇
2021May 23, 2022=◇◇◇
2020May 25, 2021=◇◇◇
2019May 19, 2020=◇◇◇
2018May 21, 2019=◇◇◇
2017May 22, 2018=◇◇◇
2016May 23, 2017=◇◇◇
2015May 24, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Nadine Leslie (Chair, President and Chief Executive Officer), FY2025 total compensation $1,906,024 (base salary $754,000) [exec_comp, SEC accession 0001308179-26-000211, filed 2026-04-06]

See a complete sample report

Answered within 24 hours, every figure cited to its SEC filing. This is a one-off report: no refunds.

Tell me when Middlesex Water files
You get a note when this company’s compensation data changes.
Your address is used for this and nothing else. Unsubscribe in one click.

What this page does not include

Everything above is a fact Middlesex Water disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Middlesex Water sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about access
Multiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion Intelligence
Join the list for Peer Group Review
Whether Middlesex Water's disclosed peer group is defensible, who names Middlesex Water back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
207 figures on this page: 196 cited to the filing that reported them, 11 calculated from figures it prints.
196 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001628280-26-036878
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001308179-26-000211
    Director Compensation · Grants of Plan-Based Awards · Outstanding Equity Awards · Summary Compensation Table
  3. 0001174947-25-000838
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001174947-25-000561
    Summary Compensation Table
  5. 0001104659-24-064336
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001174947-24-000548
    Summary Compensation Table
  7. 0001104659-23-064114
    Item. 5.07. Submission of Matters to a Vote of Security Holders
  8. 0001104659-22-064463
    Item. 5.07. Submission of Matters to a Vote of Security Holders
  9. 0001174947-21-000581
    Proposal No. 2 Description of Matters Submitted
  10. 0001104659-20-064554
    Item. 5.07. Submission of Matters to a Vote of Security Holders
  11. 0001174947-19-000705
    Proposal No. 2 Description of Matters Submitted
  12. 0001174947-18-000848
    Item. 5.07. Submission of Matters to a Vote of Security Holders
  13. 0001174947-17-000915
    Item. 5.07. Submission of Matters to a Vote of Security Holders
  14. 0001174947-16-002731
    Proposal No. 2 Description of Matters Submitted
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Middlesex Water executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/MSEX (accessed 2026).
Short form: data: Velarion

The paid brief for Middlesex Water

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$500 for the Executive Compensation Report. Both reports for $900.
Get the executive briefGet the board briefNo account needed.
14 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Middlesex Water and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Setup guide and the full list of questions it answers

Peers Middlesex Water discloses

The companies named in MSEX's own disclosed peer group.

Altus Power, Inc.American States Water CompanyChesapeake Utilities CorporationConsolidated Water Co. Ltd.Genie Energy Ltd.Global Water Resources, Inc.MGE Energy, Inc.Montauk Renewables, Inc.Northwest Natural Holding CompanyRGC Resources, Inc.The York Water CompanyUnitil CorporationArtesian Resources CorporationCalifornia Water Service Group

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  All companies · The Pay Desk · Methodology · Terms · Privacy