BADGER METER INC — Director's Dealing 2017

Jul 27, 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: Stoll Kimberly K (VP-Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-26	Common Stock	M	480	$19.205	Acquired	12223	Direct
2017-07-26	Common Stock	M	1600	$18.295	Acquired	13823	Direct
2017-07-26	Common Stock	M	750	$18.075	Acquired	14573	Direct
2017-07-26	Common Stock	S	2830	$45.0102	Disposed	11743	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-26	Stock Options	$19.205	M	480	Disposed	2020-05-07	BMI Common Stock (480)	Direct
2017-07-26	Stock Options	$18.295	M	1600	Disposed	2021-05-06	BMI Common Stock (1600)	Direct
2017-07-26	Stock Options	$18.075	M	750	Disposed	2022-05-04	BMI Common Stock (750)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4584.0589	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$25.645	2023-03-01	BMI Common Stock (2836)	2836	Direct
Stock Options	$27.18	2024-03-07	BMI Common Stock (2818)	2818	Direct
Stock Options	$28.33	2025-03-06	BMI Common Stock (3378)	3378	Direct
Stock Options	$33.975	2026-03-04	BMI Common Stock (2886)	2886	Direct
Stock Options	$36.45	2027-03-03	BMI Common Stock (2607)	2607	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $45 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: Stock Options are granted on a one-for-one basis.