ADAMS TODD A. 4
4 · BADGER METER INC · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Badger Meter (BMI) Director Todd Adams Receives Phantom Stock Award
What Happened
- Todd A. Adams, a director of Badger Meter, received an award of 124.71 phantom stock units (derivative) on 2026-04-01. The units were valued at $152.35 each (the 3/31/26 closing price), for a total present value of $19,000. This was recorded as an award/acquisition (code A) and represents deferred compensation rather than an open-market purchase.
Key Details
- Transaction date and price: 2026-04-01; 124.71 units at $152.35 each (total $19,000).
- Nature of award: Phantom stock units (derivative) credited to the Badger Meter, Inc. Director Deferred Compensation Plan.
- Shares owned after transaction: Not disclosed in the filing.
- Footnotes: F1 — each phantom unit equals the economic equivalent of one common share and is payable in cash upon termination of director service; F2 — units were accrued as payment of Mr. Adams’ Q2 2026 retainer and were computed using the 3/31/26 closing price.
- Filing timeliness: Report filed 2026-04-02 for a 2026-04-01 transaction (timely).
Context
- These are phantom stock units (cash-settled deferred compensation), not actual common shares. Such awards are routine director compensation and do not necessarily signal a buy/sell intent. The units are valued now but will be paid in cash per the plan’s terms when payable.
Insider Transaction Report
Form 4
ADAMS TODD A.
Director
Transactions
- Award
Phantom Stock Units
[F1][F2]2026-04-01$152.35/sh+124.71$19,000→ 16,120.483 total→ BMI Common Stock (124.71 underlying)
Footnotes (2)
- [F1]Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.
- [F2]The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2026 Quarter 2 retainer paid to non-employee directors in the amount of $19,000. The phantom stock units were computed at $152.35, the 3/31/26 closing price of the Company's common stock as required by the plan.
Signature
/s/ William R.A. Bergum, Attorney-in-Fact for Todd A. Adams|2026-04-02