BADGER METER INC — Director's Dealing 2018

Feb 1, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2018-01-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-01-30	Common Stock	A	50.0129	$47.80	Acquired	12882.448	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	51937	Direct
Common Stock	1000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$28.33	2025-03-06	BMI Common Stock (1450)	1450	Direct
Stock Options	$18.075	2022-05-04	BMI Common Stock (640)	640	Direct
Stock Options	$25.645	2023-03-01	BMI Common Stock (473)	473	Direct
Stock Options	$27.18	2024-03-07	BMI Common Stock (967)	967	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

Footnotes

F1: Represents shares of Badger Meter stock accumulated during 2017 and early 2018 in the participant's 401k component of the ESSOP, including contributions and 401K match.

F2: Year end stock price for Badger Meter Common Stock used to calculate the Company's match.