[Form 4] Mueller Water Products, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mueller Water Products insider award summary Richelle R. Feyerherm, Vice President, Chief Accounting Officer and Corporate Controller of Mueller Water Products (MWA), acquired 11,430 restricted stock units on 08/15/2025. Each unit represents a contingent right to one share that vests in three equal annual installments beginning on the first anniversary of the grant. Following the award, Ms. Feyerherm beneficially owns 17,048 shares. The grant was made under the company’s Third Amended and Restated 2006 Stock Incentive Plan.

Positive

• 11,430 restricted stock units granted to a senior officer, aligning management and shareholder interests
• Vesting in three equal annual installments encourages retention over multiple years
• Grant made under the company’s established 2006 Stock Incentive Plan, indicating use of an approved compensation framework
• Post-grant beneficial ownership of 17,048 shares increases officer stake in the company

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine equity compensation grant to an officer increases aligned ownership but is not a near-term cash event.

The 11,430 restricted stock units reflect typical executive compensation designed to retain and align senior management with shareholder interests. Vesting in three equal annual installments spreads dilution and incentivizes continued service. The post-grant beneficial ownership of 17,048 shares provides modest additional alignment with equity holders. There is no cash consideration paid for the units and no exercise price, indicating these are time-based RSUs rather than options.

Corporate Governance Expert

TL;DR: Standard grant under the company’s long-standing equity plan with customary multi-year vesting.

The award was granted pursuant to the Mueller Water Products, Inc. Third Amended and Restated 2006 Stock Incentive Plan and vests in three equal annual installments beginning one year after grant, which is a common structure to promote retention. The filing indicates individual reporting and discloses direct beneficial ownership. There are no indications of pecuniary transactions beyond the grant itself in this Form 4.

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

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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^*

Feyerherm Richelle R.

(Last) (First) (Middle)

1200 ABERNATHY RD., NE

SUITE 1200

(Street)

ATLANTA GA 30328

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Mueller Water Products, Inc. [ MWA ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, CAO and Corp. Controller

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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

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

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

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
Restricted Stock Unit	08/15/2025		A		11,430(1)	A	$0.0000	17,048	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. Acquisition is pursuant to grant of restricted stock units under the Mueller Water Products, Inc. Third Amended and Restated 2006 Stock Incentive Plan. Each restricted stock unit represents a contingent right to receive one (1) share of Mueller Water Products, Inc. Common Stock when the restrictions lapse. The lapse occurs in three (3) equal, annual installments beginning on the first anniversary of the grant date.

	/s/ Barbara A. Smucygz, Attorney-in-Fact	08/27/2025
	** 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.

FAQ

What did Richelle R. Feyerherm acquire in the Form 4 for MWA?

The Form 4 reports an acquisition of 11,430 restricted stock units (RSUs) granted to Richelle R. Feyerherm.

When do the restricted stock units vest for the MWA officer?

The RSUs vest in three equal annual installments beginning on the first anniversary of the 08/15/2025 grant date.

How many shares does the reporting person beneficially own after the transaction?

Following the reported transaction, the reporting person beneficially owns 17,048 shares.

Under what plan were the RSUs granted?

The RSUs were granted under the Mueller Water Products, Inc. Third Amended and Restated 2006 Stock Incentive Plan.

Was any cash paid for the restricted stock units?

No cash price is reported; the Form 4 shows a price of $0.0000 for the RSU award, indicating a time-based grant.

What is the reporting person's role at MWA?

The reporting person is listed as VP, Chief Accounting Officer and Corporate Controller and is an officer of the company.