specific weights to particular criteria and no particular criterion is a prerequisite for each
prospective nominee. The backgrounds and qualifications of the Company’s directors,
considered as a group, should provide a composite mix of experience, knowledge and abilities
that will allow the Board of Directors to fulfill its responsibilities.
Summary of Proposal to be Voted Upon at the Special Meeting
PROPOSAL 1 -— ELECTION OF DIRECTOR
On December 16, 2016, the Company’s Board of Directors took action to recommend that the
Sole Shareholder elect John M. Murphy to the Pennichuck Corporation Board of Directors as a
Class B director to fill the vacancy resulting from the resignation of James McMahon.
THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” JOHN M. MURPRY.
Information regarding Mr. Murphy’s professional background follows:
Mr. Murphy has been a Senior Research Analyst with Fidelity Investments in
Merrimack, New Hampshire, since 2005. He is responsible for the credit analysis of
municipal and government owned water and sewer utilities in the United States and
for the credit analysis of public power and investor owned utilities as well as
environmental service companies. Mr. Murphy was a Senior Bond Trader for
Fidelity Investments from 1999 to 2005. From 1993 to 1999, Mr. Murphy was Vice
President-Trading and Structured Products for JP Morgan Securities in New York.
Mr. Murphy holds a Bachelor of Business Administration in Finance and
Management from Baruch College; and a Master of Science in Banking and Money
Management from Adelphi University.
