BERGUM WILLIAM R A 4

4 · BADGER METER INC · Filed Feb 17, 2026

AI-generated summary of this filing

Updated Feb 17, 2026

Badger Meter (BMI) VP William Bergum Receives Awarded Shares

What Happened

William R. A. Bergum, VP, General Counsel & Secretary of Badger Meter (BMI), reported two award/acquisition events on 2026-02-12. He acquired 228.62 shares at a reported price of $174.41 per share (value ≈ $39,874) and was credited with 1,113 shares listed as N/A for price (these are performance stock units earned).

Key Details

Transaction dates: both reported on 2026-02-12; Form 4 filed 2026-02-17.
228.62 shares @ $174.41 = ~$39,874 (ESSOP unitized share equivalents; footnotes F1–F2).
1,113 shares @ N/A = PSUs earned for the 2023–2025 performance period, approved 2/12/2026 and subject to vesting on 3/3/2026 (footnotes F3–F5).
Shares owned after the transactions: not provided in the excerpt.
Filing timing: Form 4 was filed five days after the transactions; Form 4s are typically due within two business days (check the full filing for any timeliness notation).

Context

The 228.62 shares reflect units from the company’s ESSOP/401(k) component (employee contributions and match converted to share equivalents). The 1,113-item entry represents earned performance stock units (PSUs) that convert one-for-one to common shares on vesting (not an open-market purchase or sale). Awards and vesting events are routine compensation mechanics and do not by themselves indicate an insider’s buy/sell sentiment.

Form 4

Period: 2026-02-12

VP-Gen. Counsel and Secretary

Transactions

Award
Common Stock
[F1][F2]
2026-02-12$174.41/sh+228.62$39,874→ 11,951.48 total(indirect: ESSOP)
Award
Common Stock
[F3][F5][F4]
2026-02-12+1,113→ 14,252 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,|2026-02-17

1 file