BADGER METER INC — Director's Dealing 2015

Mar 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2015-03-06

Reporting Person: GRAS HORST (VP-International)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-06	Common Stock	A	656	—	Acquired	2868	Indirect
2015-03-10	Common Stock	S	2000	$56.035	Disposed	9340.616	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-06	Stock Options	$56.66	A	1115	Acquired	2025-03-06	BMI Common Stock (1115)	Direct

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 (240)	240	Direct
Stock Options	$36.59	2021-05-06	BMI Common Stock (480)	480	Direct
Stock Options	$36.15	2022-05-04	BMI Common Stock (960)	960	Direct
Stock Options	$51.29	2023-03-01	BMI Common Stock (1181)	1181	Direct
Stock Options	$54.36	2024-03-07	BMI Common Stock (1208)	1208	Direct

Footnotes

F1: The value of the award will be determined at the closing price on March 6, 2018, the date of vesting.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $56 to $56.28. 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.

F3: Stock Options are granted on a one-for-one basis.