BADGER METER INC — Director's Dealing 2016

Dec 15, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2016-12-14

Reporting Person: GRAS HORST (VP-International)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-14	Common Stock	S	6000	$38.00	Disposed	14661.232	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3478	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$18.075	2022-05-04	BMI Common Stock (1280)	1280	Direct
Stock Options	$25.645	2023-03-01	BMI Common Stock (1418)	1418	Direct
Stock Options	$27.18	2024-03-07	BMI Common Stock (1932)	1932	Direct
Stock Options	$28.33	2025-03-06	BMI Common Stock (2416)	2416	Direct
Stock Options	$33.975	2026-03-04	BMI Common Stock (2064)	2064	Direct

Footnotes

F1: The amount shown reflects the number of shares held following the reported transaction, as adjusted for a 2-for-1 stock split effectuated by the issuer on September 15, 2016.

F2: The amount shown reflects the number of shares held, adjusted for a 2-for-1 stock split effectuated by the issuer on September 15, 2016.

F3: The stock option grant price and number of stock options has been adjusted to reflect a 2-for-1 stock split effectuated by the issuer on September 15, 2016.