Stoll Kimberly K 4

What Happened

• Kimberly K. Stoll, VP–Customer Service & GM SmartCover at Badger Meter (BMI), acquired shares via awards on February 12, 2026. The Form 4 reports two acquisitions: 159.27 shares at $174.41 each (total reported value $27,778) and 1,391 shares listed as ESSOP unitized share equivalents (no dollar value provided in the filing). These were awards/plan acquisitions (not open-market buys or sales).

Key Details

• Transaction date: 2026-02-12; Form 4 filed: 2026-02-17 (filed late relative to the typical 2-business-day Form 4 deadline).
• Items reported:
  • 159.27 shares acquired @ $174.41 (value $27,778).
  • 1,391 shares acquired as ESSOP unitized share equivalents (value N/A).
• Shares owned after transaction: not disclosed in the filing.
• Notable footnotes:
  • ESSOP share equivalents (F1/F2) represent 401(k) contributions and company match accumulated during 2025/early-2026; year-end price used to compute unit equivalents.
  • PSUs from a March 3, 2023 grant were earned for the 2023–2025 performance period and approved by the Compensation Committee on Feb 12, 2026; those PSUs convert 1-for-1 to common stock and vest on March 3, 2026 (F3–F5).
• Filing timeliness: late filing (filed 5 days after the transaction), which reduces near-term transparency for investors.

Context

• These entries are awards/plan acquisitions rather than purchases or sales; they reflect compensation/benefit-plan activity (including earned performance stock units and 401(k) share equivalents), not an open-market investment decision. PSUs earned for 2023–2025 remain subject to vesting conditions (continued employment through the March 3, 2026 vest date).