Form 4: Middlesex Water Co. Executive Jay L. Kooper Reports Stock Transactions

Jay L. Kooper, VP, Gen. Counsel & Secretary of Middlesex Water Co., reports acquisition and disposal of company stock on April 1, 2024.

Summary

• On April 1, 2024, Jay L. Kooper, VP, Gen. Counsel & Secretary of Middlesex Water Co., reported transactions involving the company's stock.
• Kooper acquired 1,143 shares of restricted stock at $52.50 per share.
• He also disposed of 357 shares of restricted stock at $52.50 per share, representing shares that have vested.
• Additionally, 159 shares were surrendered to the issuer to cover tax withholding obligations related to the vesting of restricted stock.
• Following these transactions, Kooper directly owns 4,078 shares of common stock and 159 shares of common stock (book entry).

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions are routine and related to executive compensation and tax obligations. There is no indication of positive or negative sentiment towards the company's prospects.

Positives

• The acquisition of 1,143 shares of restricted stock may indicate confidence in the company's future performance.

Negatives

• The disposal of 357 shares due to vesting is a normal part of executive compensation and doesn't necessarily indicate a negative outlook.
• The surrender of 159 shares to cover tax obligations is a standard procedure and doesn't reflect negatively on the company.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge sentiment and potential future performance.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time.
• The surrender of shares to cover tax obligations is a common practice among executives receiving stock-based compensation.
• Comparing Kooper's holdings and transactions to those of executives at peer companies like American Water Works (AWK) or Essential Utilities (WTRG) could provide additional context.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.

Key Dates