BERGUM WILLIAM R A 4

What Happened

• William R. A. Bergum, Vice President, General Counsel and Secretary of Badger Meter Inc. (BMI), acquired 1,413.76 share equivalents of the company's stock on 2026-04-21 at an effective price of $123.78 per share, for a total value of $175,000. The transaction is reported on a Form 4 filed 2026-04-23.
• This was an acquisition (not an open-market buy) effected by an intra-fund transfer into the Badger Meter Stock Fund within the issuer's 401(k) plan.

Key Details

• Transaction date: 2026-04-21; Filing date (Form 4): 2026-04-23.
• Price per share: $123.78; Shares acquired: 1,413.76; Total value: $175,000 (reported).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: the transfer represents share equivalents in a unitized Badger Meter Stock Fund (units calculated from fund cash, share count, and stock price).
• Filing timeliness: filed two days after the transaction date; appears timely under Form 4 reporting rules.

Context

• This was a reallocation within an employee 401(k) plan (intra-fund transfer), not a market purchase — common for retirement plan activity and not a direct open‑market signal. The unitized fund reports share equivalents rather than a literal brokerage trade.