Form 4: Badger Meter Director Acquires Phantom Stock Units

Director Todd A. Adams of Badger Meter Inc. acquired phantom stock units equivalent to 124.71 shares of common stock as part of his retainer.

Summary

• Director Todd A. Adams acquired 124.71 phantom stock units on April 1, 2026.
• These units are the economic equivalent of common stock and will be paid in cash upon termination of service as a director.
• The acquisition was part of his Q2 2026 retainer payment for non-employee directors.
• The phantom stock units were valued at $152.35 per unit, based on the March 31, 2026 closing price of Badger Meter's common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine compensation transaction for a director rather than a significant financial event or strategic shift for the company.

Positives

• Director compensation is structured to align with company stock performance through phantom stock units.
• The value of the phantom stock units reflects the current market price of the company's common stock.

Risks

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

Future Outlook

The phantom stock units will be paid in cash upon the reporting person's termination of service as a director.

Industry Context

StockSavvy.ai notes that the use of phantom stock units is a common practice in corporate compensation, particularly for non-employee directors, to align their interests with shareholders and provide a performance-based incentive tied to the company's stock value.

Stakeholder Impact

• Shareholders: The transaction reflects a standard compensation practice that aligns director interests with stock performance, but does not represent new equity dilution.

Next Steps

• Payment of phantom stock units in cash upon the reporting person's termination of service as a director.

Key Dates

Keywords

Badger Meter, BMI, Form 4, Director Compensation, Phantom Stock Units, Insider Trading, SEC Filing, Equity