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Dennis W. Doll, born in 1956, is the long-time President and CEO of Middlesex Water Company, having held this position since January 2006. He took over from Dennis G. Sullivan, marking a new era for the company. With a Bachelor's...

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Dennis W. Doll

Ex-CEO of Middlesex Water Company

Education

Bachelor's Degree in Business Administration

Field of Expertise

Business & Management

Sector of Economy

Utilities

Born

January 1, 1956 - 69 years ago

CEO of Middlesex Water Company for

17 years 4 months (Jan 2006 - May 2023)

Previous Experience

Various roles within Middlesex Water Company

Holdings

See how much did Dennis W. Doll make over time.

Dennis W. Doll holds a significant stake in Middlesex Water Company, which has experienced fluctuations reflective of broader market trends. Initially, his wealth was largely concentrated in company stocks, but he has adjusted his portfolio over the years as the...

Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Dennis W. Doll make over time.

In 2023, Dennis W. Doll's total compensation reached $1,758,184, a testament to his effective leadership at Middlesex Water Company. This includes a salary of $720,462 and a substantial bonus of $331,968 linked to his success in meeting financial targets. He also benefited from vested stock awards worth approximately $671,732 from the Restricted Stock Plan, which reflects his long-term commitment to the company. This total compensation has increased steadily over the years, showcasing his growing responsibility and the company's financial health. The compensation strategy aims to align his pay with performance metrics, ensuring that his interests are in line with creating value for shareholders and maintaining high service standards for customers. His performance directly contributes to the company's operational goals, making him an integral part of Middlesex's leadership.

Year

2023

Total Compensation

$1.80M

Salary

$720.46K

Board Justification

The compensation philosophy aims to balance customer service needs with long-term shareholder value, benchmarking total compensation to the 50th percentile of peer companies, and aligning pay with performance metrics such as Income Before Income Taxes.

Bonus

$331.97K

Board Justification

The bonus is based on the achievement of financial and operational goals, with a cash payment approved by the Compensation Committee and Board for 2023.

Other

$75.86K

Board Justification

Other compensation includes dividends on restricted stock, personal automobile use, group term life insurance premiums, 401(k) employer match, and spouse travel expenses.

Restricted Stock

$671.73K(8.65K RSU)

Board Justification

The stock awards that vested in 2023 were part of the Restricted Stock Plan, which generally vests after five years. The value realized on vesting was calculated based on the market price at the time of vesting.

Performance Metrics

The performance metrics for 2023 included achieving a financial target of Income Before Income Taxes, which was set at $35.3 million.

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