Bockhorst Kenneth 4

What Happened Kenneth Bockhorst, Chairman, President & CEO and a director of Badger Meter, was awarded 21,146 performance stock units (PSUs) and acquired 4.966 share equivalents through the company’s ESSOP unitized 401(k) on February 12, 2026. The 21,146 PSUs were earned for the 2023–2025 performance period and were approved by the Compensation and Human Resources Committee; their reported acquisition value is N/A and they will vest on March 3, 2026. The 4.966 ESSOP share equivalents were valued at $174.41 each (total $866) using the year-end stock price.

Key Details

• Transaction date: February 12, 2026; Form 4 filed February 17, 2026.
• Primary codes: A (award/grant) — no open-market purchase or sale reported.
• PSUs: 21,146 earned PSUs from 3/3/2023 grant for the 2023–2025 period; convert 1-for-1 into common stock and vest on 3/3/2026 (see footnotes F1–F3). Reported value for the PSU award is N/A.
• ESSOP: 4.966 unitized 401(k) share equivalents (includes contributions and match), valued at $174.41 each for a total reported value of $866 (see footnotes F4–F5).
• Shares owned after the transaction: not provided in the supplied filing details.
• Filing/timeliness: Filing date and transaction date are provided; the report does not include a late-filing flag in the summary provided here.

Context These transactions are compensation-related (performance award and 401(k) share equivalents), not open-market buys or sales. PSUs reflect performance-based pay earned for a multi-year period and remain subject to vesting and continued employment through the vest date; ESSOP share equivalents reflect retirement plan contributions and employer match. Such awards indicate company compensation outcomes rather than direct insider sentiment from purchases or sales.