[Form 4] MIDDLESEX WATER CO Insider Trading Activity

REINHARD WALTER G reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

REINHARD WALTER G reported acquisition or exercise transactions in this Form 4 filing.

Middlesex Water Company director Walter G. Reinhard received a stock award of 865 shares of Common Stock on April 1, 2026. The award price is referenced at $52.05 per share, set as of the close of business on March 31, 2026, under the company’s Outside Director Stock Compensation Plan. After this grant, he holds 865 shares in book-entry form and 6,051 shares in a separate street-name account, both reported as direct ownership.

Insider Trade Summary

Grant/Award: 865 shares

Grant/Award 2 txns

Insider REINHARD WALTER G

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock (Book)	865	$52.05	$45K
holding	Common Stock (Street)	--	--	--

Holdings After Transaction: Common Stock (Book) — 865 shares (Direct); Common Stock (Street) — 6,051 shares (Direct)

Footnotes (1)

1. F1. Price as of close of business March 31, 2026, in accordance with the provision of the Issuer's Outside Director Stock Compensation Plan.

Key Figures

Stock award shares: 865 shares Reference price per share: $52.05 per share Book-entry holdings after grant: 865 shares +1 more

4 metrics

Stock award shares 865 shares Common Stock grant on April 1, 2026

Reference price per share $52.05 per share Close of business March 31, 2026, per director plan

Book-entry holdings after grant 865 shares Common Stock (Book) direct ownership

Street-name holdings 6,051 shares Common Stock (Street) direct ownership entry

Key Terms

Outside Director Stock Compensation Plan, Common Stock (Book), Common Stock (Street), Grant, award, or other acquisition

4 terms

Outside Director Stock Compensation Plan financial

"in accordance with the provision of the Issuer's Outside Director Stock Compensation Plan"

Common Stock (Book) financial

"security_title: "Common Stock (Book)""

Common Stock (Street) financial

"security_title: "Common Stock (Street)""

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Middlesex Water (MSEX) report for Walter G. Reinhard?

Middlesex Water reported that director Walter G. Reinhard received a grant of 865 shares of Common Stock. The award was made under the company’s Outside Director Stock Compensation Plan as part of his equity compensation, rather than an open-market stock purchase.

At what price was Walter G. Reinhard’s Middlesex Water (MSEX) stock award valued?

The 865-share award to Walter G. Reinhard was valued at $52.05 per share. This price reflects the close of business on March 31, 2026, as specified by the company’s Outside Director Stock Compensation Plan for determining the grant’s reference value.

How many Middlesex Water (MSEX) shares does Walter G. Reinhard hold in book-entry form?

Following the April 1, 2026 grant, Walter G. Reinhard holds 865 Middlesex Water Common Stock shares in book-entry form. This figure represents his position in the issuer’s direct registration system, separate from any shares held in a brokerage or street-name account.

What does Middlesex Water (MSEX) list as Walter G. Reinhard’s street-name holdings?

The filing lists 6,051 shares of Middlesex Water Common Stock in a street-name account for Walter G. Reinhard. This entry reflects directly owned shares held through a brokerage, reported separately from his 865 book-entry shares disclosed in the same Form 4.

Was Walter G. Reinhard’s Middlesex Water (MSEX) transaction an open-market buy or a compensation grant?

The transaction was a compensation grant, not an open-market buy. The Form 4 uses code “A” for a grant or award acquisition and cites the Outside Director Stock Compensation Plan as the governing document for the 865-share stock award.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/01/2026 - 09:14 AM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

REINHARD WALTER G

(Last) (First) (Middle)

485C ROUTE 1 SOUTH

SUITE 400

(Street)

ISELIN NEW JERSEY 08830

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MIDDLESEX WATER CO [ MSEX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock (Book)	04/01/2026		A		865	A	$52.05(1)	865	D
Common Stock (Street)								6,051	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Price as of close of business March 31, 2026, in accordance with the provision of the Issuer's Outside Director Stock Compensation Plan.

Remarks:

	/s/ Jay L. Kooper, Power of Attorney for Walter G. Reinhard	04/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)