Kenneth Bockhorst - 03 Mar 2023 Form 4 Insider Report for BADGER METER INC (BMI)

Role: Chairman, President & CEO, Director
Signature: /s/ William R.A. Bergum, Attorney-in-Fact for Kenneth C. Bockhorst
Issuer symbol: BMI
Transactions as of: 03 Mar 2023
Net transactions value: -$153,254
Form type: 4
Filing time: 06 Mar 2023, 19:02:32 UTC
Previous filing: 03 Jan 2023
Next filing: 07 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BMI	Common Stock	Award		+4,757	+15%		37,008	03 Mar 2023	Direct	F1
transaction	BMI	Common Stock	Tax liability	$153,254	-1,280	-3.5%	$119.73	35,728	06 Mar 2023	Direct	F2
holding	BMI	Common Stock						251	03 Mar 2023	ESSOP

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BMI	Stock Options						10,540	03 Mar 2023	BMI Common Stock	10,540	$48.20	Direct
holding	BMI	Stock Options						15,329	03 Mar 2023	BMI Common Stock	15,329	$59.85	Direct
holding	BMI	Stock Options						18,181	03 Mar 2023	BMI Common Stock	18,181	$63.04	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock granted March 3, 2023 to reporting person under the 2021 Omnibus Incentive Plan. The restricted stock vests ratably over three years from the date of grant.
F2	The price in Column 4 is a weighted average price. Prices actually received ranged from $119.00 to $122.11. 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.