BERGUM WILLIAM R A 4

What Happened

• William R. A. Bergum, VP—General Counsel and Secretary of Badger Meter (BMI), was granted 369 restricted shares on March 6, 2026 under the company's 2021 Omnibus Incentive Plan.
• To cover tax withholding on the grant, 46 shares were surrendered/disposed at an indicated withholding rate of $148.85 per share (total withheld value $6,847). The grant itself has no purchase price (award).

Key Details

• Transaction date: March 6, 2026 (reported on Form 4 filed March 10, 2026).
• Grant: 369 restricted shares (code A); grant price: N/A.
• Tax withholding: 46 shares withheld (code F) at $148.85/share, total ~$6,847.
• Shares owned after transaction: not specified in the filing.
• Footnote: Restricted stock vests ratably over three years from the grant date under the 2021 Omnibus Incentive Plan.
• Filing timeliness: Form 4 filed March 10, 2026 — within the SEC’s two-business-day reporting window (timely).

Context

• Restricted stock grants are a form of compensation and do not represent a market purchase; the withheld shares were surrendered to satisfy tax obligations (F = tax withholding), not an open-market sale. Such awards are routine for executives and do not by themselves indicate a buy/sell signal. Purchases or open-market sales generally carry more direct informational value about insider sentiment.