BADGER METER INC — Director's Dealing 2014

Sep 10, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2014-09-09

Reporting Person: Stoll Kimberly K (VP-Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-09-09	Common Stock	M	1400	$38.69	Acquired	3392	Direct
2014-09-09	Common Stock	M	240	$38.41	Acquired	3632	Direct
2014-09-09	Common Stock	M	400	$36.59	Acquired	4032	Direct
2014-09-09	Common Stock	M	480	$36.15	Acquired	4512	Direct
2014-09-09	Common Stock	S	2520	$52.1657	Disposed	1992	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-09-09	Stock Options	$38.69	M	1400	Disposed	2019-05-01	BMI Common Stock (1400)	Direct
2014-09-09	Stock Options	$38.41	M	240	Disposed	2020-05-07	BMI Common Stock (240)	Direct
2014-09-09	Stock Options	$36.59	M	400	Disposed	2021-05-06	BMI Common Stock (400)	Direct
2014-09-09	Stock Options	$36.15	M	480	Disposed	2022-05-04	BMI Common Stock (480)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1587.6052	Indirect
Common Stock	2872	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$51.29	2023-03-01	BMI Common Stock (1418)	1418	Direct
Stock Options	$54.36	2024-03-07	BMI Common Stock (1409)	1409	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $52.11 to $52.25. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

F2: Stock Options are granted on a one-for-one basis.