ADAMS TODD A.

SEC source: 0001193125-26-411374 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,354.333

Underlying: BMI Common Stock · 153.8 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2026 Quarter 4 retainer paid to non-employee directors in the amount of $19,000. The phantom stock units were computed at $123.54, the 9/30/26 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001193125-26-295050 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,200.533

Underlying: BMI Common Stock · 128.05 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2026 Quarter 3 retainer paid to non-employee directors in the amount of $19,000. The phantom stock units were computed at $148.38, the 6/30/26 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001193125-26-191090 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,072.483

Underlying: BMI Common Stock · 952 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: 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.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001193125-26-140674 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,120.483

Underlying: BMI Common Stock · 124.71 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2026 Quarter 2 retainer paid to non-employee directors in the amount of $19,000. The phantom stock units were computed at $152.35, the 3/31/26 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001439288-26-000059 · wk-form4_1770774208.xml · nonDerivative · entry 4

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,256,684

F5 · price: This transaction was executed in multiple trades at prices ranging from $51.45 to $52.69. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0001439288-26-000059 · wk-form4_1770774208.xml · nonDerivative · entry 3

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,526,684

F2 · shares: Shares were sold to satisfy tax withholding obligations and related fees in connection with the vesting of performance stock units and related dividend shares.

F4 · price: This transaction was executed in multiple trades at prices ranging from $51.48 to $52.16. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0001439288-26-000059 · wk-form4_1770774208.xml · nonDerivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,531,734

F2 · shares: Shares were sold to satisfy tax withholding obligations and related fees in connection with the vesting of performance stock units and related dividend shares.

F3 · price: This transaction was executed in multiple trades at prices ranging from $52.16 to $53.14 The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0001439288-26-000059 · wk-form4_1770774208.xml · nonDerivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,795,081

F1 · price: Acquisition of shares, including shares received for accrued dividend equivalent rights, for no consideration upon the vesting of performance stock units, based on Zurn Elkay Water Solutions Corporation's performance during three year performance period (January 1, 2023 -December 31, 2025).

SEC source: 0001193125-26-001138 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,995.773

Underlying: BMI Common Stock · 108.94 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2026 Quarter 1 retainer paid to non-employee directors in the amount of $19,000. The phantom stock units were computed at $174.41, the 12/31/25 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001439288-25-000175 · wk-form4_1765591787.xml · nonDerivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,225,347

F1 · shares: Bona fide gift.

SEC source: 0001193125-25-228610 · ownership.xml · derivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,886.833

Underlying: BMI Common Stock · 102.446 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F3 · price: Includes phantom stock units acquired through routine dividend equivalent payments on previously granted phantom stock units, which acquisitions are exempt under Rule 16a-11.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001193125-25-228610 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,784.387

Underlying: BMI Common Stock · 89.62 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2025 Quarter 4 retainer paid to non-employee directors in the amount of $16,000. The phantom stock units were computed at $178.54, the 9/30/25 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-25-093314 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,694.767

Underlying: BMI Common Stock · 65.32 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2025 Quarter 3 retainer paid to non-employee directors in the amount of $16,000. The phantom stock units were computed at $244.95, the 6/30/25 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-25-060296 · ownership.xml · derivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,629.447

Underlying: BMI Common Stock · 494 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F3 · kind: 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 $100,000 as rounded down to the nearest whole share based on a 10-day average closing price of the Company's Common stock.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-25-060296 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,135.447

Underlying: BMI Common Stock · 52.56 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his annual Compensation Committee Chair Fee in the amount of $10,000. The phantom stock units were computed at $190.25, the 3/31/2025 closing price of the Company's stock, as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-25-049519 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,082.887

Underlying: BMI Common Stock · 84.1 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2025 Quarter 1 retainer paid to non-employee directors in the amount of $16,000. The phantom stock units were computed at $190.25, the 3/31/25 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-25-000547 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,998.787

Underlying: BMI Common Stock · 75.43 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adam's Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2025 Quarter 1 retainer paid to non-employee directors in the amount of $16,000. The phantom stock units were computed at $212.12, the 12/31/2024 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 10

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,272,347

F8 · price: This transaction was executed in multiple trades at prices ranging from $39.17 to $39.60. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 9

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,282,347

F6 · shares: Shares were sold to satisfy tax withholding obligations and related fees in connection with the vesting of performance stock units.

F7 · price: This transaction was executed in multiple trades at prices ranging from $38.85 to $39.58. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 8

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,439,855

F5 · price: Acquisition of shares for no consideration upon the vesting of performance stock units, based on Zurn Elkay Water Solutions Corporation's performance during three year performance period (October 5, 2021 - September 30, 2024).

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 7

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,111,867

F4 · shares: Bona fide gift.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 6

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,157,867

F3 · shares: As part of an estate planning strategy, shares were transferred to an irrevocable gift trust, the trustee of which is independent of the Reporting Person.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 5

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,242,867

F2 · price: This transaction was executed in multiple trades at prices ranging from $39.65 to $40.03. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · derivative · entry 14

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 184,733 shares

Expires 2028-05-25

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F10 · derivative.exercise_date: Option fully vested.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · derivative · entry 13

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 439,545 shares

Expires 2027-05-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F10 · derivative.exercise_date: Option fully vested.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 4

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,362,867

F1 · shares: Shares were withheld to satisfy the exercise price and tax withholding obligations in connection with the option exercise.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 3

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,485,873

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,301,140

F1 · shares: Shares were withheld to satisfy the exercise price and tax withholding obligations in connection with the option exercise.

SEC source: 0001439288-24-000190 · wk-form4_1731029821.xml · nonDerivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,576,560

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0000950170-24-110995 · ownership.xml · derivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,923.357

Underlying: BMI Common Stock · 94.189 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F3 · price: Includes phantom stock units acquired through routine dividend equivalent payments on previously granted phantom stock units, which acquisitions are exempt under Rule 16a-11."

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-24-110995 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,829.168

Underlying: BMI Common Stock · 73.255 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2024 Quarter 4 retainer paid to non-employee directors in the amount of $16,000. The phantom stock units were computed at $218.41, the 9/30/2024 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-24-080572 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,755.913

Underlying: BMI Common Stock · 85.86 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2024 Quarter 3 retainer paid to non-employee directors in the amount of $16,000. The phantom stock units were computed at $186.35, the 6/28/2024 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-24-050673 · ownership.xml · derivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,670.053

Underlying: BMI Common Stock · 452 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F3 · kind: 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 $80,000 as rounded down to the nearest whole share based on a 10-day average closing price of the Company's Common stock.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-24-050673 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,218.053

Underlying: BMI Common Stock · 43.26 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his annual Compensation Committee Chair fee in the amount of $7,000. The phantom stock units were computed at $161.81, the 3/31/2024 closing price of the Company's stock, as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0000950170-24-039613 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,174.793

Underlying: BMI Common Stock · 98.88 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2024 Quarter 2 retainer paid to non-employee directors in the amount of $16,000. The phantom stock units were computed at $161.81, the 3/28/2024 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001439288-24-000026 · wk-form4_1707792250.xml · nonDerivative · entry 4

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,137,015

F3 · shares: Shares were sold to satisfy tax withholding obligations and related fees in connection with the vesting of performance stock units.

F4 · price: This transaction was executed in multiple trades at prices ranging from $31.81 to $32.40. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0001439288-24-000026 · wk-form4_1707792250.xml · nonDerivative · entry 3

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,414,586

F2 · price: Acquisition of shares for no consideration upon the vesting of performance stock units, based on Zurn Elkay Water Solutions Corporation's performance during 3-year performance period (January 1, 2021 - December 31, 2023).

SEC source: 0001439288-24-000026 · wk-form4_1707792250.xml · nonDerivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,828,154

SEC source: 0001439288-24-000026 · wk-form4_1707792250.xml · nonDerivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,828,550

F1 · price: This transaction was executed in multiple trades at prices ranging from $32.70 to $33.29. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

SEC source: 0000950170-24-000310 · ownership.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,075.913

Underlying: BMI Common Stock · 103.65 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2024 First Quarter retainer of $16,000. The phantom stock units were computed at $154.37, the 12/29/2023 closing price of the Company's common stock as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001439288-23-000139 · wk-form4_1702072324.xml · nonDerivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director · Chairman, President & CEO

10b5-1 filing: No plan indicated

Ownership: Indirect · By grantor retained annuity trust

Disclosed balance after: 0

F1 · balance_after: As previously reported, on December 9, 2021, the Reporting Person transferred shares of common stock to a grantor retained annuity trust (GRAT) as part of an estate planning strategy. The Reporting Person's spouse serves as trustee of the GRAT. On December 7, 2023, under the terms of the GRAT, the shares indicated above were returned to the Reporting Person as an annuity payment.

SEC source: 0001439288-23-000139 · wk-form4_1702072324.xml · nonDerivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director · Chairman, President & CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,958,154

F1 · balance_after: As previously reported, on December 9, 2021, the Reporting Person transferred shares of common stock to a grantor retained annuity trust (GRAT) as part of an estate planning strategy. The Reporting Person's spouse serves as trustee of the GRAT. On December 7, 2023, under the terms of the GRAT, the shares indicated above were returned to the Reporting Person as an annuity payment.

SEC source: 0001439288-23-000136 · wk-form4_1700517997.xml · nonDerivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director · Chairman, President & CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,584,749

F1 · price: Bona fide gift.

SEC source: 0001209191-23-051538 · doc4.xml · derivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,972.263

Underlying: BMI Common Stock · 154.87 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F3 · kind: Includes phantom stock units acquired through routine dividend equivalent payments on previously granted phantom stock units, which acquisitions are exempt under Rule 16a-11.

F3 · price: Includes phantom stock units acquired through routine dividend equivalent payments on previously granted phantom stock units, which acquisitions are exempt under Rule 16a-11.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001209191-23-051538 · doc4.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,817.393

Underlying: BMI Common Stock · 104.26 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for the Q4 2023 retainer in the amount of $15,000. The phantom stock units were computed at $143.87, the 9/29/2023 closing price of the Company's stock, as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001209191-23-044287 · doc4.xml · derivative · entry 3

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: BMI Common Stock · 2,627 shares

Expires 2027-05-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · price: Stock Options are granted on a one-for-one basis.

SEC source: 0001209191-23-044287 · doc4.xml · nonDerivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

F1 · price: The price in Column 4 is a weighted average price. Prices actually received ranged from $162.40 to $162.92. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price for all transactions reported in this Form 4.

SEC source: 0001209191-23-044287 · doc4.xml · nonDerivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,627

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001209191-23-041223 · doc4.xml · derivative · entry 1

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,713.133

Underlying: BMI Common Stock · 101.65 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2 · kind: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for his 2023 Quarter 3 retainer paid to non-employee directors in the amount of $15,000. The phantom stock units were computed at $147.56, the 6/30/2023 closing price of the Company's stock, as required by the plan.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

SEC source: 0001209191-23-026580 · doc4.xml · derivative · entry 2

ADAMS TODD A. · CIK 0001525211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,611.483

Underlying: BMI Common Stock · 572 shares

Expires not disclosed

F1 · derivative.exercise_price: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F3 · kind: 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 $75,000 as rounded down to the nearest whole share based on a 10-day average closing price of the Company's Common stock.

F1 · derivative.exercise_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F1 · derivative.expiration_date: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.