BADGER METER INC — Director's Dealing 2018

Mar 19, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2018-03-15

Reporting Person: Stoll Kimberly K (VP-Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-15	Common Stock	S	2040	$48.4667	Disposed	8702.002	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4969.5773	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$48.20	2028-03-02	BMI Common Stock (2027)	2027	Direct
Stock Options	$18.075	2022-05-04	BMI Common Stock (2130)	2130	Direct
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 $48.45 to $48.505. 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: Includes 70.002 shares acquired pursuant to dividend reinvestment transactions exempt from Section 16 under Rule 16a-11.