BADGER METER INC — Director's Dealing 2016

Mar 14, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2016-03-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-11	Common Stock	M	240	$38.41	Acquired	54240	Direct
2016-03-11	Common Stock	M	240	$36.59	Acquired	54480	Direct
2016-03-11	Common Stock	M	320	$36.15	Acquired	54800	Direct
2016-03-11	Common Stock	M	236	$51.29	Acquired	55036	Direct
2016-03-11	Common Stock	M	241	$54.36	Acquired	55277	Direct
2016-03-11	Common Stock	M	241	$56.66	Acquired	55518	Direct
2016-03-11	Common Stock	S	1518	$67.3306	Disposed	54000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-03-11	Stock Options	$38.41	M	240	Disposed	2020-05-07	BMI Common Stock (240)	Direct
2016-03-11	Stock Options	$36.59	M	240	Disposed	2021-05-06	BMI Common Stock (240)	Direct
2016-03-11	Stock Options	$36.15	M	320	Disposed	2022-05-04	BMI Common Stock (320)	Direct
2016-03-11	Stock Options	$51.29	M	236	Disposed	2023-03-01	BMI Common Stock (236)	Direct
2016-03-11	Stock Options	$54.36	M	241	Disposed	2024-03-07	BMI Common Stock (241)	Direct
2016-03-11	Stock Options	$56.66	M	241	Disposed	2025-03-06	BMI Common Stock (241)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6354.8683	Indirect
Common Stock	1739	Indirect
Common Stock	630	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$67.95	2026-03-04	BMI Common Stock (1032)	1032	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $67.20 to $67.50. 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.