Htwe Richard 4

What Happened

• Richard Htwe, Vice President – Global Operations at Badger Meter (BMI), was awarded/received 1,193 shares tied to Performance Stock Units (PSUs) on Feb 12, 2026. No cash was paid and no open‑market purchase or sale occurred; this is an award (code A).
• No per‑share price or total dollar value is reported for this award (PSUs convert to common stock one‑for‑one on vesting).

Key Details

• Transaction date: Feb 12, 2026; Form 4 filed Feb 17, 2026 (appears to be filed after the typical 2-business‑day deadline for Form 4s).
• Award type: Performance Stock Units granted Mar 3, 2023 for the 2023–2025 performance period; 1,193 PSUs were approved as earned by the Compensation & Human Resources Committee on Feb 12, 2026 (Footnotes F1–F3).
• Vesting: Earned PSUs will vest and convert one‑for‑one into common shares on Mar 3, 2026, subject to continued employment through that date.
• Shares owned after the reported transaction are not specified in the provided filing excerpt.
• This was an earned performance award (A); not a purchase (P) or sale (S). No 10b5‑1 plan, tax‑withholding sale, or cashless exercise noted in the excerpt.

Context

• These PSUs were originally granted on Mar 3, 2023 and tied to performance over 2023–2025. The committee’s Feb 12, 2026 approval means performance targets were met for that period; conversion to actual shares depends on vesting on the third anniversary and continued employment.
• Awards like this reflect compensation tied to performance metrics and do not by themselves signal an insider buying or selling shares.