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BADGER METER INC Director's Dealing 2005

Oct 3, 2005

30998_dirs_2005-10-03_443bcab2-e615-4b83-addc-9de8956dff7b.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2005-09-30

Reporting Person: JOHNSON RICHARD E (Sr. VP-Finance, Treas & CFO, Co-trustee, Officers Voting Tr)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2005-09-30 Common Stock M 2400 $11.495 Acquired 12796 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2005-09-30 Stock Options $11.495 M 2400 Disposed 2012-01-29 Common Stock (2400) Direct

Footnotes

F1: In addition to the 12,796 shares owned by Mr. Johnson jointly with his spouse, he also owns 16,000 shares in the Badger Meter Officers' Voting Trust, 632.22 shares in the Company's ESSOP, 14,000 shares in an IRA account and 750 shares of Restricted Stock.

F2: Stock options granted pursuant to the Company's 1997, 1999 and 2003 Stock Option Plans approved by shareholders.

F3: Stock Options are granted on a one-for-one basis.

F4: In addition to the options granted to Mr. Johnson on 1/29/02, the reporting person has options to acquire 30,550 additional shares of Common Stock at varying grant prices and vesting schedules over a ten-year period.