Company: MWA
Filing Date: 2025-11-19
Form Type: 10-K
Source: 0001350593-25-000066
Chunk: 381

Company: Mueller Water Products, Inc.
Filing Date: 2025-11-19
Form: 10-K
Item: Item 7
Chunk 381
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 the Compensation Committee confirms performance against the applicable performance targets.  PRSUs do not convey voting rights or earn dividends.  PRSUs vest on the last day of an award cycle, unless vested sooner as a result of a “Change of Control” of the Company, or the death, disability or retirement of a participant. We recognize compensation expense for stock-settled PRSUs starting on the first day of the applicable performance period and ending on the respective vesting dates.  We base the recognized compensation expense upon the number of units awarded for each performance period, the closing price of our common stock on the grant date and the estimated performance factor.  In 2025 and 2024, no shares vested related to PRSUs.  In 2023, 163,999 shares vested related to PRSUs.  

F- 29

Table of ContentsIndex to Financial Statements

Stock-settled PRSUs activity under the 2006 Plan is summarized below:Award dateSettlement yearPerformance periodGrant date per unit fair valueUnits awardedUnits forfeitedNet unitsPerformance factorShares earnedDecember 3, 201920232020$11.26 69,988 (2,391)67,597 0.90961,446 202111.86 69,989 (9,614)60,375 1.16170,096 202213.81 69,988 (9,614)60,374 0.70042,262 November 29, 202220262023-202511.41 166,284 (92,550)73,734 2.000147,468 November 28, 202320272024-202613.22 136,983 (30,804)106,179 —— December 3, 202420282025-202725.58 64,044 (1,308)62,736 —— March 3, 202520282025-2027$25.19 7,692 — 7,692 ——Market-Based Awards.  Our market-based awards consist of market-based restricted stock units (“MRSUs”).  MRSUs represent a target number of units that may be paid out at the end of a three-fiscal year award cycle based on a calculation of our relative total shareholder return (“TSR”) performance as compared with the TSR of a selected peer group.  Settlements in our common shares