Form 4: Badger Meter VP Fred J. Begale Reports Stock Transactions Following PSU Vesting

VP of Engineering at Badger Meter, Fred J. Begale, reports acquisition and disposal of common stock following the vesting of Performance Stock Units (PSUs).

Summary

• Fred J. Begale, VP of Engineering at Badger Meter, filed a Form 4 detailing changes in beneficial ownership.
• On February 6, 2024, Mr. Begale acquired 818 shares related to Performance Stock Units (PSUs) granted on March 5, 2021, for the 2021-2023 performance period.
• These PSUs vested based on the achievement of certain performance criteria and were approved by the Compensation and Human Resources Committee of the Board.
• On March 6, 2024, Mr. Begale sold 1,203 shares of common stock at a weighted average price of $162.92, with prices ranging from $162.25 to $164.00.
• Following these transactions, Mr. Begale directly owns 2,181 shares of Badger Meter Inc.
• The shares reported represent the number of PSUs that were earned as a result of the achievement of such performance criteria and approved by the Compensation and Human Resources Committee of the Board on February 6, 2024.
• The shares were inadvertently not reported at the time of achievement approval.

Sentiment

Score: 6

Explanation: Neutral sentiment as the document primarily reports routine stock transactions. The vesting of PSUs suggests positive performance, but the subsequent sale is a personal financial decision.

Positives

• The vesting of PSUs indicates that performance criteria were met during the 2021-2023 period, suggesting positive company performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted performance-based equity awards and subsequent sale of some shares.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect insider trading activity.

Key Dates