BADGER METER INC — Director's Dealing 2014

Mar 10, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2014-03-07

Reporting Person: BERGUM WILLIAM R A (VP-Gen. Counsel and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-07	Common Stock	M	1500	$31.41	Acquired	5210	Direct
2014-03-07	Common Stock	M	2000	$38.69	Acquired	7210	Direct
2014-03-07	Common Stock	S	3500	$54.43	Disposed	3710	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-07	Stock Options	$31.41	M	1500	Disposed	2016-05-05	BMI Common Stock (1500)	Direct
2014-03-07	Stock Options	$38.69	M	2000	Disposed	2019-05-01	BMI Common Stock (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5531.4805	Indirect
Common Stock	2150	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$52.81	2018-05-02	BMI Common Stock (1500)	1500	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
Stock Options	$36.15	2022-05-04	BMI Common Stock (1600)	1600	Direct
Stock Options	$51.29	2023-03-01	BMI Common Stock (1181)	1181	Direct

Footnotes

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