Stuyvenberg Matthew L 4

What Happened

• Matthew L. Stuyvenberg, EVP—SaaS International, Utility & Commercial at Badger Meter (BMI), had two award-type acquisitions reported on Feb 12, 2026.
  • 1,589 performance stock units (PSUs) were approved as earned (award code A). Price is reported as N/A because these are performance awards; they were approved by the Compensation & HR Committee on Feb 12, 2026 and are scheduled to vest on March 3, 2026 (convert 1:1 into common stock).
  • 49.45 shares were acquired in the participant’s unitized 401(k) ESSOP account (award code A) at a valuation of $174.41 per share, total value ≈ $8,625.

Key Details

• Transaction date: Feb 12, 2026 (reported on Form 4 filed Feb 17, 2026).
• Prices/values: PSUs reported at N/A (award); ESSOP shares valued at $174.41/share → $8,625 total.
• Shares owned after transaction: not specified in the provided filing.
• Notable footnotes:
  • PSUs were granted March 3, 2023 for the 2023–2025 performance period and were approved as earned on Feb 12, 2026; vesting occurs Mar 3, 2026 and PSUs convert 1-for-1 into common stock.
  • The 49.45 shares represent ESSOP (401(k)) unitized share equivalents (contributions and match) calculated using a year-end stock price.
• Filing timeliness: Form 4 filed Feb 17, 2026 (no indication in the filing of a late-report legend).

Context

• PSUs are performance-based awards subject to committee approval and continued employment through the vesting date; they are not an immediate open-market purchase or sale.
• ESSOP/unitized 401(k) share equivalents reflect retirement plan activity (employee contributions and employer match) and are routine, not necessarily a direct signal of insider market view.