BADGER METER INC — Director's Dealing 2014

Jan 31, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2014-01-29

Reporting Person: SMILEY BEVERLY L P (VP-Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-29	Common Stock	A	31.5918	$54.50	Acquired	6230.9979	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	71900	Direct
Common Stock	2150	Indirect
Common Stock	630	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	$38.69	2019-05-01	BMI Common Stock (600)	600	Direct
Stock Options	$38.41	2020-05-07	BMI Common Stock (480)	480	Direct
Stock Options	$36.59	2021-05-06	BMI Common Stock (720)	720	Direct
Stock Options	$36.15	2022-05-04	BMI Common Stock (1280)	1280	Direct
Stock Options	$51.29	2023-03-01	BMI Common Stock (1181)	1181	Direct

Footnotes

F1: Represents shares of Badger Meter stock accumulated during 2013 in the participant's 401(k) account, including the Company's year end match.

F2: Year end stock price for Badger Meter Common Stock used to calculate the Company's match.