BADGER METER INC — Director's Dealing 2012

Feb 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2012-02-01

Reporting Person: JOHNSON RICHARD E (Sr. VP-Finance, Treas & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-01	Common Stock	A	152.556	$29.43	Acquired	2132.8375	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	81092	Direct
Common Stock	28000	Direct
Common Stock	5000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$7.00	2013-05-02	BMI Common Stock (5000)	5000	Direct
Stock Options	$18.325	2015-05-09	BMI Common Stock (4500)	4500	Direct
Stock Options	$31.41	2016-05-05	BMI Common Stock (3600)	3600	Direct
Stock Options	$24.94	2017-05-04	BMI Common Stock (3600)	3600	Direct
Stock Options	$52.81	2018-05-02	BMI Common Stock (3000)	3000	Direct
Stock Options	$38.69	2019-05-01	BMI Common Stock (5400)	5400	Direct
Stock Options	$38.41	2020-05-07	BMI Common Stock (3000)	3000	Direct
Stock Options	$36.59	2021-05-06	BMI Common Stock (5000)	5000	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 2011.

F2: Price of Badger Meter, Inc. Common Stock at 12/31/2011.