BADGER METER INC — Director's Dealing 2011

Feb 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2011-01-31

Reporting Person: MEEUSEN RICHARD A (Director, Chairman, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-31	Common Stock	A	105.0887	$44.22	Acquired	3727.9208	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	119564	Direct
Common Stock	9550	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$18.325	2015-05-09	BMI Common Stock (6600)	6600	Direct
Stock Options	$31.41	2016-05-05	BMI Common Stock (5400)	5400	Direct
Stock Options	$24.94	2017-05-04	BMI Common Stock (6300)	6300	Direct
Stock Options	$52.81	2018-05-02	BMI Common Stock (4800)	4800	Direct
Stock Options	$38.69	2019-05-01	BMI Common Stock (9000)	9000	Direct
Stock Options	$38.41	2020-05-07	BMI Common Stock (10200)	10200	Direct

Footnotes

F1: Represents shares of Badger Meter, Inc. Common Stock acquired pursuant to the Badger Meter Employee Savings and Stock Ownership Plan (ESSOP). The shares include the Company's annual year-end 401(k) match for 2010.

F2: Price of Badger Meter, Inc. Common Stock at 12/31/2010.