Hopkins Sheryl 4

What Happened
Sheryl Hopkins, Vice President — Human Resources at Badger Meter (BMI), was credited with 1,193 shares on February 12, 2026 as the result of performance stock units (PSUs) that were earned for the 2023–2025 performance period. No per-share price or cash value is reported (N/A). These earned PSUs convert one-for-one into common stock and are subject to time-based vesting on March 3, 2026.

Key Details

• Transaction date: February 12, 2026 (reported on Form 4 filed February 17, 2026).
• Transaction type/code: Award/Grant (A).
• Shares/units reported: 1,193 PSUs (conversion is 1 PSU = 1 share).
• Price/Value: N/A (performance award; no purchase price).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: PSUs were originally granted March 3, 2023 for the 2023–2025 performance period; the Compensation Committee approved the earned amount on Feb 12, 2026, and the shares will vest on March 3, 2026 subject to continued employment and the original grant terms.
• Timeliness: The Form 4 was filed five calendar days after the transaction (Feb 17) and appears to be later than the standard two business-day filing window for insiders.

Context
PSUs are performance-based equity awards that only convert to actual shares if performance targets are met and any service/vesting conditions are satisfied. This filing records the committee’s approval that performance targets were met and the resulting earned units; it is not an open‑market purchase or sale and therefore is not a direct market‑sentiment trade.