X0306 4 2015-01-28 0001350593 Mueller Water Products, Inc. MWA 0001504635 FRANKLIN SHIRLEY C. 1200 ABERNATHY ROAD SUITE 1200 ATLANTA GA 30328 1 Restricted Stock Unit 2015-01-28 4 A 0 4513.0000 9.9700 A 14269.0000 D Stock Option (Right to Buy) 9.9700 2015-01-28 4 A 0 10791.0000 0.0000 A 2025-01-28 Common Stock 10791.0000 10791.0000 D Each restricted stock unit represents a contingent right to receive one share of Mueller Water Products, Inc. Common Stock when the restrictions lapse. The lapse occurs in three (3) equal, annual installments on each yearly anniversary of the grant date. The stock options will vest in three (3) equal, annual installments on the anniversary of the grant date. /s/ KEVIN MAXWELL, Attorney-in-Fact 2015-01-30