Mueller Water names Mike Morgan CFO; Melissa Rasmussen exits after FY2026 10-K

Mueller Water Products, Inc.

Rasmussen steps down as SVP/CFO effective the first business day after the FY2026 Form 10-K is filed (expected ~Nov 19, 2026); no disagreement with the company cited.
Mike Morgan named EVP, Finance effective Oct 28, 2026, then EVP/CFO at the transition; he was CFO of Indicor/IvyTree and a Labcorp (LH) SVP of Enterprise Finance.
Morgan terms: $575,000 base salary, 80% target bonus, $1.3M target long-term incentive starting FY2027, $500,000 initial equity award, $700,000 cash sign-on bonus.
Rasmussen receives a $431,897 retention payment, FY2026 bonus based on actual performance, and severance under the Executive Severance Plan; advisory role through Dec 31, 2026 at current salary.
Morgan also gets a $100,000 annual commuter benefit; severance is 2.0x base salary, or 2.0x salary plus target bonus with full equity vesting if terminated within two years of a change in control.

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