Company: MWA
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001350593-25-000069
Chunk: 42

Company: Mueller Water Products, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 42
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2023 awards’ fiscal 2023 performance period was 11.11%. Accordingly, the average ROIC performance over the fiscal 2023 awards

#### 48MUELLER WATER PRODUCTS, INC.

### EXECUTIVE COMPENSATION
performance period was 16.40%, with the achievement amount equal to 200% of the target. S ee “Executive Compensation Tables — Grants of Plan-Based Awards Table” for additional information.

1 For the fiscal 2025 awards, this multiplier was changed to (one minus the Company’s adjusted effective tax rate).

| PRSU PERFORMANCE MEASURES AND RESULTS FOR PERFORMANCE PERIOD ENDED FISCAL 2025 |

PRSU AWARD ISSUANCES

Common Stock to be issued related to PRSUs awarded in fiscal 2024 (for the three-year award cycle from fiscal 2024 through fiscal 2026) and fiscal 2025 (for the three-year award cycle from fiscal 2025 through fiscal 2027) will not be issued until the Compensation Committee confirms performance results for the fiscal 2026 and fiscal 2027 performance periods, respectively. Shares of Common Stock issued in December 2025 to NEOs for the PRSUs awarded in fiscal 2023 (for the three-year award cycle from fiscal 2023 through fiscal 2025) and vested in fiscal 2025 are set forth on the following page:

#### PROXY STATEMENT FOR 2026 ANNUAL MEETING49

### EXECUTIVE COMPENSATION
| Year of Award |     | Performance Period             |     |                                           |     |                                           |     |             |     |             |
|               |     | Fiscal 2023                    |     | Fiscal 2024                               |     | Fiscal 2025                               |     | Fiscal 2026 |     | Fiscal 2027 |
| Fiscal 2023   |     | Vested 2023 Market Unit Awards 
 (1 Tranche)                    |     |                                           |     |                                           |     |             |     |             |
|               |     | Vested 2023 ROIC Unit Awards   
 (1 Tranche)                    |     |                                           |     |                                           |     |             |     |             |
| Fiscal 2024   |     |                                |     | Future Vesting of 2024 Market Unit Awards 
 (1 Tranche)                               |     |                                           |     |             |     |             |
|               |     |                                |     | Future Vesting