Form 4: Badger Meter Inc. Director Todd A. Adams Reports Changes in Beneficial Ownership

Director Todd A. Adams reports acquisition of phantom stock units in Badger Meter, Inc. Director Deferred Compensation Plan.

Summary

• On April 1, 2025, Todd A. Adams, a director of Badger Meter Inc., acquired 84.1 phantom stock units.
• These units were accrued in his Director Deferred Compensation Plan account as payment for his 2025 Quarter 1 retainer, valued at $16,000.
• The phantom stock units were computed at $190.25, the closing price of Badger Meter's common stock on March 31, 2025.
• Following the transaction, Mr. Adams directly owns 15,082.887 derivative securities.
• Each share of phantom stock is the economic equivalent of one share of common stock and becomes payable in cash upon termination of service as a director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating standard corporate governance practices. The sentiment is neutral to slightly positive as it reflects alignment of director interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The Director Deferred Compensation Plan provides a mechanism for compensating non-employee directors.

Future Outlook

The phantom stock units become payable in cash upon the reporting person's termination of service as a director.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term performance.

Key Dates

Keywords

phantom stock, director compensation, beneficial ownership, Form 4, Badger Meter, Adams, deferred compensation