BADGER METER INC — Director's Dealing 2015

Dec 3, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2015-12-02

Reporting Person: MEEUSEN RICHARD A (Director, Chairman, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-02	Common Stock	M	5400	$31.41	Acquired	112156	Direct
2015-12-02	Common Stock	S	5400	$60.1196	Disposed	106756	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-02	Stock Options	$31.41	M	5400	Disposed	2016-05-05	BMI Common Stock (5400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4060.4051	Indirect
Common Stock	20190	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$52.81	2018-05-02	BMI Common Stock (4800)	4800	Direct
Stock Options	$38.69	2019-05-01	BMI Common Stock (9000)	9000	Direct
Stock Options	$38.41	2020-05-07	BMI Common Stock (10200)	10200	Direct
Stock Options	$36.59	2021-05-06	BMI Common Stock (13300)	13300	Direct
Stock Options	$36.15	2022-05-04	BMI Common Stock (18800)	18800	Direct
Stock Options	$51.29	2023-03-01	BMI Common Stock (11367)	11367	Direct
Stock Options	$54.36	2024-03-07	BMI Common Stock (11812)	11812	Direct
Stock Options	$56.66	2025-03-06	BMI Common Stock (12088)	12088	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $59.96 to $60.50. 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.