BADGER METER INC — Director's Dealing 2025

Feb 14, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2025-02-13

Reporting Person: BERGUM WILLIAM R A (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-02-13	Common Stock	A	936	—	Acquired	14199	Direct

Footnotes

F1: On March 4, 2022, the Reporting Person was granted Performance Stock Units ("PSUs"), the amount of which was subject to the achievement of certain performance criteria for the 2022-2024 performance period. 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 13, 2025. The earned value of these shares is now subject to vesting, which will occur on March 4, 2025.

F2: Represents the number of shares of common stock issued upon the vesting of PSUs granted on March 4, 2022 for the 2022-2024 performance period, based on the third anniversary of the grant date subject to both performance achievement approval and continued employment through such date.

F3: PSUs convert into common stock on a one-for-one basis.