Form 4: Badger Meter Director Acquires Phantom Stock Units

Badger Meter Director Xia Liu acquired phantom stock units equivalent to 124.71 shares of common stock as part of her director compensation.

Summary

• Xia Liu, a Director at Badger Meter Inc. (BMI), acquired 124.71 phantom stock units on April 1, 2026.
• These units are economically equivalent to shares of BMI common stock and will be paid in cash upon Ms. Liu's termination of service as a director.
• The acquisition was part of her compensation for the second quarter of 2026, with the units valued at $152.35 per share, based on the March 31, 2026 closing price.
• The total value of the acquired phantom stock units was $19,000.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents routine director compensation and not a significant change in company performance or strategy.

Positives

• Director compensation is being paid in a form that aligns with shareholder interests through phantom stock units.
• The value of the phantom stock units is tied to the company's common stock price, reflecting confidence in future stock performance.

Risks

• The value of the phantom stock units is subject to the fluctuation of Badger Meter's common stock price.
• Payment is contingent on the reporting person's continued service as a director until termination.

Future Outlook

The phantom stock units will be paid in cash upon the reporting person's termination of service as a director, with the value determined by the company's common stock price at that time.

Industry Context

StockSavvy.ai notes that the use of phantom stock units for director compensation is a common practice in the water technology industry, aligning executive incentives with shareholder value and reflecting the company's performance.

Stakeholder Impact

• Shareholders: The transaction reflects standard director compensation practices and does not immediately impact share count or dilution. The value of their holdings is directly linked to the value of the phantom stock units.

Next Steps

• Payment of phantom stock units in cash upon Ms. Liu's termination of service as a director.

Key Dates

Keywords

Badger Meter, BMI, Form 4, Director Compensation, Phantom Stock Units, Insider Trading, Securities Ownership