BADGER METER INC — Director's Dealing 2012

Feb 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2012-02-17

Reporting Person: WEBB DENNIS J (VP-Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-17	Common Stock	M	1440	$24.94	Acquired	31440	Direct
2012-02-17	Common Stock	M	1800	$31.41	Acquired	33240	Direct
2012-02-17	Common Stock	M	1440	$18.325	Acquired	34680	Direct
2012-02-17	Common Stock	M	1800	$7.00	Acquired	36480	Direct
2012-02-17	Common Stock	S	6480	$33.8001	Disposed	30000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-17	Stock Options	$18.325	M	1440	Disposed	2015-05-09	BMI Common Stock (1440)	Direct
2012-02-17	Stock Options	$31.41	M	1800	Disposed	2016-05-05	BMI Common Stock (1800)	Direct
2012-02-17	Stock Options	$24.94	M	1440	Disposed	2017-05-04	BMI Common Stock (1440)	Direct
2012-02-17	Stock Options	$7.00	M	1800	Disposed	2013-05-02	BMI Common Stock (1800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14516.9095	Indirect
Common Stock	2200	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$38.69	2019-05-01	BMI Common Stock (3000)	3000	Direct
Stock Options	$38.41	2020-05-07	BMI Common Stock (1200)	1200	Direct
Stock Options	$36.59	2021-05-06	BMI Common Stock (1200)	1200	Direct