BADGER METER INC — Director's Dealing 2012

Dec 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2012-11-30

Reporting Person: DIX RONALD H (Director, Retired Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-30	Common Stock	M	1000	$18.325	Acquired	58039	Direct
2012-11-30	Common Stock	S	2000	$45.0107	Disposed	56039	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-30	Stock Options	$18.325	M	1000	Disposed	2015-05-09	BMI Common Stock (1000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	87000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units	$0.00	1988-08-08	BMI Common Stock (1285)	1285	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

Footnotes

F1: Stock Options are granted on a one-for-one basis.