BADGER METER INC — Director's Dealing 2017

Jul 28, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2017-07-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-26	Common Stock	S	9911	$45.1995	Disposed	68926	Direct
2017-07-27	Common Stock	S	9439	$45.0737	Disposed	59487	Direct
2017-07-27	Common Stock	S	260	$45.00	Disposed	1000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12832.4351	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$18.075	2022-05-04	BMI Common Stock (640)	640	Direct
Stock Options	$25.645	2023-03-01	BMI Common Stock (473)	473	Direct
Stock Options	$27.18	2024-03-07	BMI Common Stock (967)	967	Direct
Stock Options	$28.33	2025-03-06	BMI Common Stock (1450)	1450	Direct
Stock Options	$33.975	2026-03-04	BMI Common Stock (2064)	2064	Direct
Stock Options	$36.45	2027-03-03	BMI Common Stock (1981)	1981	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $45.15 to $45.20. 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: The price in Column 4 is a weighted average price. The prices actually received ranged from $45 to $45.25. 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.