BADGER METER INC — Director's Dealing 2018

Jul 31, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2018-07-27

Reporting Person: SERDYNSKI RAYMOND G (VP-Manufacturing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-07-27	Common Stock	M	6000	$19.345	Acquired	14471	Direct
2018-07-27	Common Stock	S	6000	$50.8319	Disposed	8471	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-07-27	Stock Options	$19.345	M	6000	Disposed	2019-05-01	BMI Common Stock (6000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	22394.078	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$19.205	2020-05-07	BMI Common Stock (2400)	2400	Direct
Stock Options	$18.295	2021-05-06	BMI Common Stock (2400)	2400	Direct
Stock Options	$18.075	2022-05-04	BMI Common Stock (3200)	3200	Direct
Stock Options	$25.645	2023-03-01	BMI Common Stock (2362)	2362	Direct
Stock Options	$27.18	2024-03-07	BMI Common Stock (2416)	2416	Direct
Stock Options	$28.33	2025-03-06	BMI Common Stock (2416)	2416	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
Stock Options	$48.20	2028-03-02	BMI Common Stock (1621)	1621	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $50.70 to $51.00. 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.