Form 4: Middlesex Water Co: VP, Gen. Counsel & Secretary Jay L. Kooper Reports Stock Transactions
SEC Form 4
Jay L. Kooper, VP, Gen. Counsel & Secretary of Middlesex Water Co, reports acquisition and disposal of common stock related to restricted stock awards and vesting.
Summary
- On April 1, 2025, Jay L. Kooper, VP, Gen. Counsel & Secretary of Middlesex Water Co, reported transactions involving the company's common stock.
- Kooper acquired 1,607 shares of restricted stock at $64.1 per share.
- 832 shares of restricted stock originally awarded vested at $64.1 per share.
- 369 shares were surrendered back to the issuer to cover tax withholding obligations related to the vesting of the restricted stock at $64.1 per share.
- Following these transactions, Kooper directly owns 528 shares of common stock and 4,853 shares of restricted stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to executive compensation. There is no indication of positive or negative implications for the company's performance.
Positives
- The acquisition of restricted stock indicates a continued investment in the company by a key executive.
Negatives
- The surrender of shares to cover tax obligations reduces the executive's overall holdings, although this is a common practice.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Comparison to Industry Standards
- Insider trading activity is closely monitored in the water utility industry, as it is in all publicly traded sectors.
- Companies like American Water Works (AWK) and Essential Utilities (WTRG) also have similar reporting requirements for their executives.
- The vesting of restricted stock is a common form of executive compensation across the industry.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and do not significantly alter the company's financial position.
Key Dates
| Date | Description |
|---|---|
| 04/01/2025 | Date of earliest transaction: Acquisition and disposal of common stock (restricted stock and vesting). |
| 04/03/2025 | Date of signature of the reporting person. |
Keywords
Middlesex Water Co, MSEX, Jay L. Kooper, Form 4, Beneficial Ownership, Restricted Stock, Vesting, Insider Trading
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.