Trust changes update Middlesex Water (MSEX) director share holdings
Rhea-AI Filing Summary
Middlesex Water director Joshua Bershad reported changes to how certain shares are held, driven by trust and custodial arrangements rather than market trades. A Form 4 entry with code J records an “other” transaction involving 213,365 shares of common stock, categorized as a restructuring of indirect holdings, bringing that indirect position to 230,698 shares.
Footnotes explain that, upon the passing of a third party, Bershad and his spouse became co‑trustees with voting power over a trust, and Bershad disclaims beneficial ownership of those shares except for any pecuniary interest. Additional entries show direct holdings of common stock in book‑entry and street name and other indirect holdings through a family trust, custodial accounts for family members, and shares held by his spouse. Two footnotes note corrections to prior reports that had inadvertently double‑counted 100 shares and 17,333 shares, with this filing presenting the corrected balances.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock (Street) | 213,365 | $0.00 | -- |
| holding | Common Stock (Book) | -- | -- | -- |
| holding | Common Stock (Street) | -- | -- | -- |
| holding | Common Stock (Street) | -- | -- | -- |
| holding | Common Stock (Street) | -- | -- | -- |
Footnotes (1)
- Upon the passing of a third-party on the reported transaction date, Mr. Bershad and his spouse became co-trustees and have voting power over a trust. Mr. Bershad disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the filing of this report shall not be deemed an admission that Mr. Bershad is the beneficial owner of these shares for purposes of Section 16 or for any other purpose. Mr. Bershad serves as trustee and has voting power over a family trust. Reflects a correction to the reporting person's indirect holdings, which previously inadvertently double-counted 100 shares across two line items reporting indirect holdings. This filing reflects the corrected balance. Held by custodial accounts for the benefit of family members of the reporting person. Reflects a correction to the reporting person's indirect holdings, which previously inadvertently double-counted 17,333 shares across two line items reporting indirect holdings. This filing reflects the corrected balance.
