Badger Meter (BMI) director granted $125,000 in annual stock award

Rhea-AI Filing Summary

McGill James W reported acquisition or exercise transactions in this Form 4 filing.

Badger Meter Inc. director James W. McGill received a grant of 952 shares of Common Stock as compensation. The shares were awarded at a price of $122.96 per share, bringing his direct holdings to 4,893 shares after the transaction.

The stock was granted under the 2021 Omnibus Incentive Plan, which provides non-employee directors an annual grant of Badger Meter Common Stock on the first business day following the company’s annual meeting. This year’s grant equals $125,000, rounded down to the nearest whole share based on a 10-day average closing price.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider McGill James W

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	952	$122.96	$117K

Holdings After Transaction: Common Stock — 4,893 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares granted: 952 shares Grant price per share: $122.96 per share Shares owned after grant: 4,893 shares +1 more

4 metrics

Shares granted 952 shares Non-employee director stock grant on April 27, 2026

Grant price per share $122.96 per share Common Stock grant to director James W. McGill

Shares owned after grant 4,893 shares Total direct holdings following the Form 4 transaction

Annual grant value $125,000 Non-employee director stock grant amount, rounded down to whole shares

Key Terms

2021 Omnibus Incentive Plan, annual grant, 10-day average closing price

3 terms

2021 Omnibus Incentive Plan financial

"Shares granted pursuant to the 2021 Omnibus Incentive Plan as approved by shareholders"

annual grant financial

"Non-employee directors are given an annual grant of Badger Meter Common Stock"

10-day average closing price financial

"based on a 10-day average closing price of the Company's Common stock"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McGill James W

(Last) (First) (Middle)

4545 W. BROWN DEER ROAD

P.O. BOX 245036

(Street)

MILWAUKEE WISCONSIN 53224-9536

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BADGER METER INC [ BMI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/27/2026		A(1)		952	A	$122.96	4,893	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares granted pursuant to the 2021 Omnibus Incentive Plan as approved by shareholders on April 30, 2021. Non-employee directors are given 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 $125,000 as rounded down to the nearest whole share based on a 10-day average closing price of the Company's Common stock.

	/s/ William R.A. Bergum, Attorney-in-Fact for James W. McGill	04/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Badger Meter (BMI) report for James W. McGill?

Badger Meter reported that director James W. McGill received a grant of 952 shares of Common Stock. The award is part of his non-employee director compensation and was made under the company’s 2021 Omnibus Incentive Plan after the annual shareholder meeting.

What was the share price and grant value in the latest Badger Meter (BMI) Form 4?

The 952-share grant to director James W. McGill was awarded at $122.96 per share. According to the footnote, this year’s non-employee director grant equals $125,000, rounded down to the nearest whole share based on a 10-day average closing price.

How many Badger Meter (BMI) shares does James W. McGill hold after this grant?

Following the stock grant, James W. McGill directly holds 4,893 shares of Badger Meter Common Stock. This reflects his updated ownership after receiving 952 shares as an annual non-employee director award under the company’s 2021 Omnibus Incentive Plan.

Under which plan was the Badger Meter (BMI) director stock grant made?

The stock grant to director James W. McGill was made under Badger Meter’s 2021 Omnibus Incentive Plan. Shareholders approved this plan on April 30, 2021, and it provides annual grants of Common Stock to non-employee directors following the company’s annual meeting.

How is the annual Badger Meter (BMI) director stock grant amount determined?

Badger Meter sets the annual non-employee director grant at $125,000, rounded down to the nearest whole share. The number of shares is calculated using a 10-day average closing price of the company’s Common Stock, then issued on the first business day after the annual meeting.