BADGER METER INC — Director's Dealing 2026

Feb 17, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2026-02-12

Reporting Person: Wrocklage Robert (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-12	Common Stock	A	3578	—	Acquired	23119	Direct
2026-02-12	Common Stock	A	2.7855	$174.41	Acquired	172.3	Indirect

Footnotes

F1: On March 3, 2023, the Reporting Person was granted Performance Stock Units ("PSUs"), the amount of which was subject to the achievement of certain performance criteria for the 2023-2025 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 12, 2026. The earned value of these shares is now subject to vesting, which will occur on March 3, 2026.

F2: Represents the number of shares of common stock issued upon the vesting of PSUs granted on March 3, 2023 for the 2023-2025 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.

F4: Represents share equivalents of Badger Meter stock accumulated during 2025 and early 2026 in the participant's unitized 401(k) component of the ESSOP, including contributions and match.

F5: Year end stock price for Badger Meter Common Stock used to calculate the ESSOP unitized share equivalents.