BADGER METER INC — Director's Dealing 2015

Feb 2, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2015-01-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-30	Common Stock	A	34.7964	$59.35	Acquired	6265.7943	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	70100	Direct
Common Stock	2212	Indirect
Common Stock	630	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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 (945)	945	Direct
Stock Options	$54.36	2024-03-07	BMI Common Stock (1208)	1208	Direct

Footnotes

F1: Represents shares of Badger Meter stock accumulated during 2014 and early 2015 in the participant's ESSOP accounts, including defined contributions and the Company's year-end 401K match.

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