Company: MWA
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001350593-25-000069
Chunk: 33

Company: Mueller Water Products, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 33
---
562 las t year. The bonuses for Ms. Rasmussen and Mr. Heinrichs, who both performed the CFO role during fiscal 2025, were combined for the purposes of this calculation.

• Long-term performance-based compensation based upon rTSR was paid at 198.7% of target for fiscal 2025 compared with a rTSR payout at 144.2% of target last year.

• Long-term performance-based compensation based upon ROIC was paid at 200% of target for fiscal 2025 . Long-term performance-based compensation based upon ROIC was first granted for fiscal 2023 (with a performance period from fiscal 2023 to fiscal 2025).

| We structure performance-based compensation to pay for performance. |

Our Executive Compensation Guiding Principles focus explicitly on performance-based compensation and aligning pay for performance (see following page). 54.5% of our CEO and 42.8% of our NEO’s Target Total Direct Compensation is

#### 42MUELLER WATER PRODUCTS, INC.

### EXECUTIVE COMPENSATION
performance-based. We set clear and measurable financial goals for Company performance. In evaluating individual performance, we assess progress toward strategic priorities.

| We consider stockholder feedback on executive compensation. |

| At our 2024 and 2025 annual meetings of stockholders, approximately 78% and 93%, respectively, of the votes cast supported the advisory vote on executive compensation. We carefully consider feedback from our stockholders regarding executive compensation. |     | “SAY-ON-PAY” SUPPORT |

• Based on the stockholder support expressed for our executive compensation programs, the Compensation Committee applied a consistent pay-for-performance philosophy in structuring executive compensation for fiscal 2025.

• Stockholders are invited to express their views or concerns on executive compensation directly to the Chair of the Compensation Committee in the manner described under “Corporate Governance — Communicating with the Board.”

| We utilize best practices for executive compensation. |

| ü | WE DO                                                                                          |     |   |                                                            |     | û | WE DON’T                                 |
| ü | Use incentives to substantially link NEO pay to Company performance                            |     |   |                                                            |     | û | Re-price or exchange equity-based awards |
|   |                                                                                                |     | û | Permit hedging or pledging of our securities by executives |     |   |                                          |
| ü | Require executives to maintain significant stock ownership levels                              |     |   |                                                            |     |   |