Form 4: Former Mueller Water Exec Vests Performance Shares

Steven S. Heinrichs, former EVP and CFO of Mueller Water Products, Inc., acquired 33,522 shares of common stock through performance-based restricted stock units and an employee stock purchase plan.

Summary

• Steven S. Heinrichs, former EVP, CFO, CLO, and CCO of Mueller Water Products, Inc. (MWA), acquired 33,522 shares of common stock on December 2, 2025.
• This acquisition was pursuant to the grant of performance-based restricted stock units under the Mueller Water Products, Inc. Amended and Restated 2006 Stock Incentive Plan.
• The units were earned based on the company's rTSR (relative Total Shareholder Return) and ROIC (Return on Invested Capital) performances during a three-year performance period and vested on the last day of the award cycle.
• The acquisition price for these shares was $0.0000, excluding shares withheld to satisfy tax obligations.
• The reported beneficial ownership following these transactions is 45,015.0663 shares, which includes 11,493.07 shares acquired under the Mueller Water Products, Inc. Employee Stock Purchase Plan.

Sentiment

Score: 6

Explanation: The acquisition of shares by a former executive, particularly through performance-based vesting and an employee stock purchase plan, indicates successful achievement of past performance targets and continued alignment of interests, which is generally viewed as a minor positive.

Positives

• Steven S. Heinrichs, a former executive, acquired 33,522 shares of common stock through the vesting of performance-based restricted stock units, indicating the achievement of company performance targets (rTSR and ROIC) over a three-year period.
• An additional 11,493.07 shares were acquired under the Mueller Water Products, Inc. Employee Stock Purchase Plan, demonstrating continued participation in employee ownership programs.
• The transactions increase the former executive's beneficial ownership to 45,015.0663 shares, aligning interests with shareholders.

Future Outlook

N/A. This filing reports a past transaction by a former executive and does not contain forward-looking statements or guidance.

Industry Context

N/A. This is an individual insider transaction report and does not provide broader industry context.

Stakeholder Impact

• Shareholders may view the former executive's continued ownership and acquisition through performance-based vesting as a minor positive signal regarding management's past performance and alignment of interests.

Key Dates

Keywords

Mueller Water Products, MWA, Steven S. Heinrichs, Form 4, insider transaction, stock acquisition, restricted stock units, employee stock purchase plan, executive compensation