Form 4: Badger Meter Director Acquires Phantom Stock

Director Todd A. Adams of Badger Meter Inc. acquired phantom stock units equivalent to 128.05 shares as compensation for his Q3 2026 retainer.

Summary

• Director Todd A. Adams acquired 128.05 phantom stock units on July 1, 2026.
• These units are economically equivalent to common stock and will be paid in cash upon termination of his director service.
• The acquisition was part of his Q3 2026 retainer payment, valued at $148.38 per unit, based on the June 30, 2026 closing price.
• The total value of the acquired phantom stock is $19,000.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports a standard director compensation transaction without indicating significant positive or negative developments for the company.

Positives

• Director compensation is being paid in a form that aligns with long-term shareholder value through phantom stock.
• The value of the phantom stock is tied to the company's common stock price, indicating confidence in future stock performance.

Risks

• The value of the phantom stock is subject to the fluctuation of Badger Meter's common stock price.
• Payment is contingent on the reporting person's termination of service as a director.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding future financial performance. It solely reports a transaction related to director compensation.

Industry Context

StockSavvy.ai notes that the use of phantom stock for director compensation is a common practice in publicly traded companies, aiming to align executive interests with those of shareholders by linking compensation to stock performance.

Related Party Transactions

• The acquisition of phantom stock units by Director Todd A. Adams from Badger Meter Inc. as part of his director retainer.

Stakeholder Impact

• Shareholders: The transaction reflects standard director compensation practices and does not immediately impact share count or ownership structure, but the value of their holdings influences the value of the phantom stock.

Next Steps

• The phantom stock units will be payable in cash upon the reporting person's termination of service as a director.

Key Dates

Keywords

Badger Meter Inc, BMI, Form 4, Director Compensation, Phantom Stock, Insider Trading, Securities Ownership