Unitil Shareholders Elect Directors at Annual Meeting

Rhea-AI Summary

Unitil Corporation (NYSE:UTL) successfully conducted its Annual Meeting of Shareholders at their Hampton, New Hampshire headquarters. The meeting resulted in several key decisions, including the election of four directors - Anne L. Alonzo, Katherine Kountze, Jane Lewis-Raymond, and David A. Whiteley - each for three-year terms.

Shareholders approved two significant measures: the selection of Deloitte & Touche as independent auditors for 2025, and the "say on pay" executive compensation advisory vote, which received 91% approval. CEO Thomas P. Meissner Jr. presented the company's 2024 highlights and outlined strategies for clean energy transition.

Unitil serves approximately 109,400 electric customers and 97,600 natural gas customers across Maine, New Hampshire, and Massachusetts. The company maintains its commitment to community service, developing innovative technologies, and delivering efficient energy solutions throughout New England.

Positive

• 91% shareholder approval for executive compensation plan shows strong investor confidence
• Stable customer base with 109,400 electric and 97,600 natural gas customers across three New England states
• All proposed directors successfully elected, indicating good corporate governance
• Independent auditor Deloitte & Touche LLP ratified, maintaining financial oversight continuity

Negative

• Heavy regulatory exposure in three different state jurisdictions (ME, NH, MA)
• Business subject to weather variations affecting energy demand
• Exposure to energy commodity price fluctuations and transmission capacity constraints

HAMPTON, N.H., April 30, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) held its Annual Meeting of Shareholders today at the corporate office in Hampton, New Hampshire. Shareholders elected Anne L. Alonzo, Katherine Kountze, Jane Lewis-Raymond and David A. Whiteley to the Board of Directors, each for a term of three years. Shareholders also ratified the selection of Deloitte & Touche, LLP as independent registered public accountants for 2025.  

Additionally, the required shareholder advisory vote concerning executive compensation, also known as “say on pay,” was approved by 91% of shareholders.

Following the business of the formal meeting, Thomas P. Meissner, Jr., Unitil's Chairman and Chief Executive Officer, presented highlights from 2024 as well as a strategic look at the transition to a clean energy future and the creation of long-term sustainable value. Mr. Meissner's presentation is available in the Investor Relations section of the Company’s website at investors.unitil.com.

About Unitil Corporation

Unitil Corporation provides energy for life by safely and reliably delivering electricity and natural gas in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 109,400 electric customers and 97,600 natural gas customers. For more information about our people, technologies, and community involvement please visit unitil.com.

This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. All statements, other than statements of historical fact, are forward-looking statements. Certain factors that could cause the actual results to differ materially from those projected in these forward-looking statements include, but are not limited to the following: variations in weather; changes in the regulatory environment; customers' preferences on energy sources; general economic conditions; increased competition; fluctuations in supply, demand, transmission capacity and prices for energy commodities; and other uncertainties, all of which are difficult to predict, and many of which are beyond the control of Unitil Corporation.

For more information please contact:                                                                                                          
Christopher Goulding – Investor Relations
Phone: 603-773-6466
Email: gouldingc@unitil.com

Alec O’Meara – External Affairs                                                                                               
Phone: 603-773-6404                                
Email: omeara@unitil.com

FAQ

What was the voting result for Unitil (UTL) 'say on pay' proposal in 2025?

91% of Unitil (UTL) shareholders approved the executive compensation advisory vote, known as 'say on pay,' at the 2025 Annual Meeting.

Who were the new directors elected to Unitil (UTL) board in April 2025?

Shareholders elected Anne L. Alonzo, Katherine Kountze, Jane Lewis-Raymond and David A. Whiteley to the Unitil Board of Directors, each for three-year terms.

How many customers does Unitil (UTL) serve in New England?

Unitil serves approximately 109,400 electric customers and 97,600 natural gas customers across Maine, New Hampshire and Massachusetts.

Which auditing firm will handle Unitil's (UTL) financial statements for 2025?

Shareholders ratified Deloitte & Touche, LLP as Unitil's independent registered public accountants for 2025.

What is Unitil's (UTL) strategic focus according to the 2025 annual meeting?

Unitil's strategic focus is on transitioning to a clean energy future and creating long-term sustainable value, as presented by CEO Thomas P. Meissner, Jr.