Begale Fred J 4
4 · BADGER METER INC · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Badger Meter (BMI) VP Fred J Begale Receives Stock Awards
What Happened
- Fred J. Begale, Vice President – Utility NPD at Badger Meter (BMI), received awards/other acquisitions reported on 2026-02-12. The filing shows two acquisitive entries: 193.09 shares at $174.41 per share (total value ≈ $33,677) and 1,193 shares reported with no per‑share price (unitized ESSOP share equivalents). These transactions are coded as awards/grants (transaction code A), not open‑market purchases or sales.
Key Details
- Transaction date: 2026-02-12; Form 4 filed 2026-02-17 (reporting date matches the filing’s Period of Report).
- Line items:
- 193.09 shares @ $174.41 — reported value ≈ $33,677.
- 1,193 shares @ N/A — unitized ESSOP share equivalents (no dollar amount shown).
- Shares owned after the transaction: not disclosed in this filing.
- Relevant footnotes:
- F1/F2: 1,193 represents unitized 401(k) (ESSOP) share equivalents accumulated in 2025/early‑2026; year‑end stock price used to calculate unitization.
- F3–F5: 193.09 reflects Performance Stock Units (PSUs) from a March 3, 2023 grant that were earned for the 2023–2025 performance period (approved Feb 12, 2026). Those PSUs convert one‑for‑one into common stock and are subject to vesting on March 3, 2026 (continued employment required).
- Filing timeliness: the Form 4 was filed Feb 17 for transactions dated Feb 12; the filing itself does not state a late filing code.
Context
- These are awards/allocations rather than purchases or sales; such grants and ESSOP allocations are common components of executive compensation and retirement plan activity. The PSU shares reported as earned remain subject to future vesting (vesting date March 3, 2026), so they are not yet freely transferable at the reporting date.
Insider Transaction Report
Form 4
Begale Fred J
VP-Utility NPD
Transactions
- Award
Common Stock
[F1][F2]2026-02-12$174.41/sh+193.09$33,677→ 7,505.29 total(indirect: ESSOP) - Award
Common Stock
[F3][F5][F4]2026-02-12+1,193→ 3,530 total
Footnotes (5)
- [F1]Represents share equivalents of Badger Meter stock accumulated during 2025 and early 2026 in the participant's unitized 401(k) component of the ESSOP, including contributions and match.
- [F2]Year end stock price for Badger Meter Common Stock used to calculate the ESSOP unitized share equivalents.
- [F3]On March 3, 2023, the Reporting Person was granted Performance Stock Units ("PSUs"), the amount of which was subject to the achievement of certain performance criteria for the 2023-2025 performance period. The shares reported represent the number of PSUs that were earned as a result of the achievement of such performance criteria and approved by the Compensation and Human Resources Committee of the Board on February 12, 2026. The earned value of these shares is now subject to vesting, which will occur on March 3, 2026.
- [F4]Represents the number of shares of common stock issued upon the vesting of PSUs granted on March 3, 2023 for the 2023-2025 performance period, based on the third anniversary of the grant date subject to both performance achievement approval and continued employment through such date.
- [F5]PSUs convert into common stock on a one-for-one basis
Signature
/s/ William R.A. Bergum, Attorney-in-Fact for Fred J. Begale|2026-02-17