BADGER METER INC — Director's Dealing 2018

Sep 25, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2018-07-17

Reporting Person: ADAMS TODD A. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-07-17	Phantom Stock Units	$	A	26.846	Acquired		BMI Common Stock (26.846)	Direct
2018-08-10	Phantom Stock Units	$	A	78.3	Acquired		BMI Common Stock (78.3)	Direct
2018-09-24	Phantom Stock Units	$	A	78.3	Acquired		BMI Common Stock (78.3)	Direct

Footnotes

F1: Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of service as a director.

F2: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for the committee meeting fee of $1,200 for the July 17, 2018 audit committee meeting. The phantom stock units were computed at $44.70, the 6/29/2018 closing price of the Company's stock, as required by the plan.

F3: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for the August 10, 2018 board meeting fee in the amount of $3,500. The phantom stock units were computed at $44.70, the 6/29/2018 closing price of the Company's stock, as required by the plan.

F4: The phantom stock units were accrued in Mr. Adams' Badger Meter, Inc. Director Deferred Compensation Plan account as payment for the September 24, 2018 board meeting fee in the amount of $3,500. The phantom stock units were computed at $44.70, the 6/29/2018 closing price of the Company's stock, as required by the plan.