Filing Summary
Business context and reporting period
Mueller Water Products, Inc. filed this Form 8-K on October 13, 2026, reporting a CFO transition announced October 12. The filing concerns executive appointments and compensation, not quarterly or annual financial results. The company’s fiscal year ended September 30, 2026.
Financial metrics and material changes
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating results. It reports no comparable-period financial data.
- Melissa Rasmussen will step down as CFO on the first business day after the company files its fiscal 2026 Form 10-K. She will serve as Senior Advisor through December 31, 2026.
- Mike Morgan becomes Executive Vice President, Finance on October 28, 2026, and is to assume the CFO role on Rasmussen’s transition date.
Compensation, commentary and other notable items
- Rasmussen will continue receiving her current base salary through the advisory period. Subject to signing and not revoking a release, she is eligible for a fiscal 2026 bonus based on actual company performance, a $431,897 retention payment, and severance under the company’s Executive Severance Plan. Her equity awards remain eligible to vest during the transition period under their terms.
- Morgan’s offer provides a $575,000 annual base salary, an annual target bonus of 80% of base salary, and a $1.3 million target long-term incentive opportunity beginning in fiscal 2027. He is also to receive a $500,000 initial equity award, a $700,000 one-time cash sign-on bonus payable January 1, 2027, and a $100,000 annual commuter benefit.
- Morgan is eligible for severance under the Executive Severance Plan. The filing describes enhanced severance and equity vesting provisions for a qualifying termination within two years after a change in control.
- The company stated Rasmussen’s transition and separation are not due to disagreement on financial statements, internal controls, operations, policies, or practices. The filing does not provide a broader financial outlook or quantify the transition’s expected cost.
Important facts for investors to verify
- The filing date of the fiscal 2026 Form 10-K, which determines the CFO transition date.
- Morgan’s actual start and CFO-assumption dates, and any subsequent company announcements about the transition.
- The fiscal 2026 bonus determination, retention and severance payments to Rasmussen, and related equity treatment.
- The full terms of the Transition Agreement and Offer Letter filed as Exhibits 10.1 and 10.2, including applicable conditions and definitions.
- Any later disclosure of the financial impact of the executive compensation arrangements.