BADGER METER INC — Director's Dealing 2018

Nov 28, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2018-11-27

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-27	Common Stock	M	640	$18.075	Acquired	53156	Direct
2018-11-27	Common Stock	M	473	$25.645	Acquired	53629	Direct
2018-11-27	Common Stock	M	483.8	$27.18	Acquired	54112.8	Direct
2018-11-27	Common Stock	M	483.6	$28.33	Acquired	54596.4	Direct
2018-11-27	Common Stock	M	825.6	$33.975	Acquired	55422	Direct
2018-11-27	Common Stock	M	396.2	$36.45	Acquired	55818.2	Direct
2018-11-27	Common Stock	S	3302	$53.5313	Disposed	52516.2	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-11-27	Stock Options	$18.075	M	640	Disposed	2022-05-04	BMI Common Stock (640)	Direct
2018-11-27	Stock Options	$25.645	M	473	Disposed	2023-03-01	BMI Common Stock (473)	Direct
2018-11-27	Stock Options	$27.18	M	483.8	Disposed	2024-03-07	BMI Common Stock (483.8)	Direct
2018-11-27	Stock Options	$28.33	M	483.6	Disposed	2025-03-06	BMI Common Stock (483.6)	Direct
2018-11-27	Stock Options	$33.975	M	825.6	Disposed	2026-03-04	BMI Common Stock (825.6)	Direct
2018-11-27	Stock Options	$36.45	M	396.2	Disposed	2027-03-03	BMI Common Stock (396.2)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12882.448	Indirect
Common Stock	1000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$48.20	2028-03-02	BMI Common Stock (1540)	1540	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. Prices actually received ranged from $53.52 to $53.55. 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 for all transactions reported in this Form 4.

F2: Stock Options are granted on a one-for-one basis.