BADGER METER INC — Director's Dealing 2008

Feb 19, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2008-02-14

Reporting Person: STOLLENWERK JOHN J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-14	Phantom Stock Units	$0.00	J	22.247	Acquired	1988-08-08	BMI Common Stock (22.247)	Direct
2008-02-15	Phantom Stock Units	$0.00	J	33.37	Acquired	1988-08-08	BMI Common Stock (33.37)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	61879	Direct
Common Stock	10164	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$7.00	2013-05-02	BMI Common Stock (6400)	6400	Direct

Footnotes

F1: The phantom stock units were accrued in Mr. Stollenwerk's Badger Meter, Inc. Director Deferred Compensation Plan account as payment for the $1,000 meeting fee for the Employee Benefit Plans Committee meeting held on 2/14/08.

F2: Price of Badger Meter, Inc. Common Stock at 12/31/07.

F3: The phantom stock units were accrued in Mr. Stollenwerk's Badger Meter, Inc. Director Deferred Compensation Plan account as payment for the $1,500 meeting fee for the 2/15/08 regular meeting of the board of directors.