Form 4: Badger Meter Director Glen E. Tellock Acquires Shares Under Incentive Plan

Glen E. Tellock, a director at Badger Meter Inc., acquired 452 shares of common stock on April 29, 2024, as part of the company's 2021 Omnibus Incentive Plan.

Summary

• On April 29, 2024, Glen E. Tellock, a director of Badger Meter Inc., acquired 452 shares of the company's common stock.
• The acquisition was made under the 2021 Omnibus Incentive Plan, which was approved by shareholders on April 30, 2021.
• The price per share was $185.76.
• Following the transaction, Tellock directly owns 7,105 shares of Badger Meter Inc.
• Non-employee directors receive an annual grant of Badger Meter Common Stock on the first business day following the Company's annual meeting.
• This year's grant is equal to $80,000 as rounded down to the nearest whole share based on a 10-day average closing price of the Company's Common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction under an existing incentive plan, indicating stability and alignment of interests. It's a neutral positive.

Positives

• The acquisition reflects Tellock's continued investment in Badger Meter Inc.
• The grant is part of a shareholder-approved incentive plan, aligning director interests with company performance.

Future Outlook

The document does not contain specific forward-looking statements, but it implies continued participation in the incentive plan.

Industry Context

Director share acquisitions are common in publicly traded companies as part of compensation and incentive programs, aligning management interests with shareholder value.

Comparison to Industry Standards

• Director compensation packages, including stock grants, are typical in publicly traded companies like Badger Meter.
• Companies such as Roper Technologies and Fortive also utilize stock-based compensation to incentivize their directors and executives.
• The value of the grant ($80,000) is within a reasonable range for director compensation at companies of similar size and market capitalization.

Stakeholder Impact

• The transaction signals continued director commitment, which can positively influence shareholder confidence.
• The incentive plan aims to align director and shareholder interests, potentially driving long-term value.

Key Dates