<SEC-DOCUMENT>0001157523-19-001549.txt : 20190722
<SEC-HEADER>0001157523-19-001549.hdr.sgml : 20190722
<ACCEPTANCE-DATETIME>20190722080515
ACCESSION NUMBER:		0001157523-19-001549
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20190716
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190722
DATE AS OF CHANGE:		20190722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITRON, INC.
		CENTRAL INDEX KEY:			0000780571
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				911011792
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22418
		FILM NUMBER:		19964511

	BUSINESS ADDRESS:	
		STREET 1:		2111 N MOLTER ROAD
		CITY:			LIBERTY LAKE
		STATE:			WA
		ZIP:			99019
		BUSINESS PHONE:		5099249900

	MAIL ADDRESS:	
		STREET 1:		2111 N MOLTER ROAD
		CITY:			LIBERTY LAKE
		STATE:			WA
		ZIP:			99019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITRON INC
		DATE OF NAME CHANGE:	20190709

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITRON INC /WA/
		DATE OF NAME CHANGE:	19940228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITRON INC
		DATE OF NAME CHANGE:	19920724
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a52016210.htm
<DESCRIPTION>ITRON, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Business Wire
         Document created using EDGARfilings PROfile 6.0.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">___________________________</div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="ze2092605fb6a419d892ceb9af25db22e" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 99.92%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt; font-weight: bold;">July 16, 2019</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: bottom;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">Date of Report (Date of Earliest Event Reported)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="z5aa0cb45c90d47b6b4bae6f2e60ecbc5" style="border-collapse: collapse; width: 60%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 100%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; font-size: 12pt;">ITRON, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">(Exact Name of Registrant as Specified in its Charter)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="z6acba1e0c3b945ce8f917277b9b23f82" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 31%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt; font-weight: bold;">Washington</div>
          </td>
          <td style="width: 2.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 31.5%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt; font-weight: bold;">000-22418</div>
          </td>
          <td style="width: 3.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 31%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt; font-weight: bold;">91-1011792</div>
          </td>
        </tr>
        <tr>
          <td style="width: 31%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">(State or Other Jurisdiction</div>
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">of Incorporation)</div>
          </td>
          <td style="width: 2.63%; vertical-align: bottom;">&#160;</td>
          <td style="width: 31.5%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">(Commission File No.)</div>
          </td>
          <td style="width: 3.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 31%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">(IRS Employer</div>
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">Identification No.)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="zd09cfecf3c75419aa8522719374c8be3" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 100%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt; font-weight: bold;">2111 N. Molter Road, Liberty Lake, WA&#160; 99019</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">(Address of Principal Executive Offices, Zip Code)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="zb5623fb04cdf43e495ae13f0dfc0d28d" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 100%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt; font-weight: bold;">(509) 924-9900</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">(Registrant's Telephone Number, Including Area Code)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="z06734068d750468f8d40a64f0023d99f" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 100%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center; margin-right: 3pt; margin-left: 3pt;">(Former Name or Former Address, if Changed Since Last Report)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>
    <div><br>
    </div>
    <div>&#9744; Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)</div>
    <div>&#9744; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
    <div>&#9744; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
    <div>&#9744; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
    <div><br>
    </div>
    <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</div>
    <div><br>
    </div>
    <div>Emerging growth company &#9744;</div>
    <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
      Act. &#9744;</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Item 5.02&#160;&#160;&#160;&#160; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 18pt; font-style: italic;">Appointment of President and Chief Executive Officer</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On July 16, 2019, the Board of Directors (the Board) of Itron, Inc. (Itron or the Company) appointed Thomas L. Deitrich as the Company&#8217;s President and Chief Executive Officer, effective August 6, 2019. Mr. Deitrich
      succeeds Philip Mezey, who will resign as President and Chief Executive Officer and as a director effective August 6, 2019, in accordance with his previously announced retirement from the Company, effective August 31, 2019. Mr. Deitrich was also
      elected to the Board effective August 6, 2019, to fill the vacancy to be created by Mr. Mezey&#8217;s resignation.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Mr. Deitrich, age 52, is currently Executive Vice President and Chief Operating Officer of Itron, Inc. &#160;Mr. Deitrich joined Itron in October 2015. From 2012 to September 2015, Mr. Deitrich was Senior Vice President and
      General Manager for Digital Networking at Freescale Semiconductor, Inc. (Freescale), and he served as the Senior Vice President and General Manager of Freescale's RF, Analog, Sensor, and Cellular Products Group from 2009 to 2012. Mr. Deitrich had
      other roles of increasing responsibility at Freescale from 2006 to 2009. Prior to Freescale, Mr. Deitrich worked for Flextronics, Sony-Ericsson/Ericsson, and GE.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On July 16, 2019, the Company entered into an employment arrangement with Mr. Deitrich that includes the following material provisions effective August 6, 2019:</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z14dc15b5ca5348adb76f90eb579cbca5">

          <tr>
            <td style="width: 5%; vertical-align: top;">
              <div>&#8226;</div>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div style="text-align: justify;">Mr. Deitrich will be paid an annual base salary of $800,000.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: middle;">&#160;</td>
            <td colspan="2" style="vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;">
              <div>&#8226;</div>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div style="text-align: justify;">Mr. Deitrich will be eligible to receive an annual target incentive bonus of 125% of his base salary in accordance with the Company&#8217;s Executive Management Incentive Plan. The payout of the bonus may range
                from 0% to a maximum of two times the target, or 250%, and is based on the achievement of annual performance objectives determined by the Board. In accordance with the terms of the Executive Management Incentive Plan, Mr. Deitrich&#8217;s current
                bonus target of 100% will apply for the period January 2019 through July 2019.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: middle;">&#160;</td>
            <td colspan="2" style="vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;">
              <div>&#8226;</div>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div style="text-align: justify;">For 2019, Mr. Deitrich will receive a minimum equity compensation package of $3,500,000, including the following awards (to be granted under the Company&#8217;s Long-Term Incentive Plan at the next regular Board
                meeting):</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="vertical-align: middle;">&#160;</td>
            <td style="width: 90%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div>&#9702;</div>
            </td>
            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: justify;">Options to purchase $2,000,000 in shares of Itron&#8217;s common stock with a ratable three-year vesting period, a ten-year term, and an exercise price equal to the market price on the date of grant on the NASDAQ
                Global Select Market</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="vertical-align: middle;">&#160;</td>
            <td style="width: 90%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div>&#9702;</div>
            </td>
            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: justify;">Time-based restricted stock units (RSUs) valued at $1,500,000 with a ratable three-year vesting period beginning one year from the grant date</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
    </div>
    <div style="text-align: justify;">In addition to the above cash and equity compensation, Mr. Deitrich may be eligible to receive future annual grants at a target value of $3,000,000, contingent upon performance and at the discretion of the Board.</div>
    <div style="text-align: justify;"><br>
    </div>
    <div style="text-align: justify;">In connection with Mr. Deitrich&#8217;s new position, the Company entered into an Employee Invention and Non-Disclosure Agreement with terms that are substantially the same as those entered into with generally all salaried
      employees in Texas. Mr. Deitrich is currently party to indemnification and change-in-control agreements with Itron, which remain unchanged.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">The foregoing description of Mr. Deitrich&#8217;s employment arrangement is qualified in its entirety by reference to the full text of Deitrich&#8217;s offer letter, a copy of which is attached as Exhibit 10.1 to this Current
      Report on Form 8-K and incorporated herein by reference.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">There are no related person transactions or other information related to Mr. Deitrich that are required to be disclosed pursuant to section 404(a) of Regulation S-K of the Securities Exchange Act of 1934.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 18pt; font-style: italic;">Arrangement with Philip Mezey</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Pursuant to Mr. Mezey&#8217;s previously announced Transition and Retirement Agreement, upon the appointment of Mr. Deitrich to his new executive position, Mr. Mezey will resign from his positions as President and Chief
      Executive Officer and from the Board effective August 6, 2019. He will serve in a non-executive officer employee role with Itron through August 31, 2019, and then as a non-employee consultant through December 31, 2019, to provide certain transition
      services.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The press release announcing matters relating to the appointment of Mr. Deitrich to his new position and the retirement of Mr. Mezey is attached hereto as Exhibit 99.1.</div>
    <div><br>
    </div>
    <div><font style="font-weight: bold;">Item 9.01&#160;&#160;&#160;&#160; </font><font style="font-weight: bold;">Financial Statements and Exhibits.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;">(d)<font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 5.25pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>Exhibits.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z0e69ce109c934db09df07c924886de70" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Exhibit</div>
            <div>Number</div>
          </td>
          <td style="width: 0.78%; vertical-align: top;">&#160;</td>
          <td style="width: 90%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 9%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 9%; vertical-align: top;">
            <div>10.1</div>
          </td>
          <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">
            <div>Employment agreement between Itron, Inc. and Thomas L. Deitrich, dated July 16, 2019.</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 9%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 0.78%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 90%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 9%; vertical-align: top;">
            <div>99.1</div>
          </td>
          <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">
            <div>Press release dated July 22, 2019.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z159f59093523412485343efdbc25f95a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td colspan="1" style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="2">
            <div style="text-align: center;">ITRON, INC.</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30%; vertical-align: bottom;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 60%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30%; vertical-align: bottom;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>By:</div>
          </td>
          <td style="width: 60%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">/s/ SARAH E. HLAVINKA</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30%; vertical-align: bottom;">
            <div>Dated: July 22, 2019</div>
          </td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 60%; vertical-align: bottom;">
            <div style="text-align: center;">Sarah E. Hlavinka</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30%; vertical-align: bottom;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 60%; vertical-align: bottom;">
            <div style="text-align: center;">Senior Vice President, General Counsel &amp; Corporate Secretary</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="zd171ae42d5b846628e492497141d2970" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Exhibit</div>
            <div>Number</div>
          </td>
          <td style="width: 0.78%; vertical-align: top;">&#160;</td>
          <td style="width: 90%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 9%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 9%; vertical-align: top;">
            <div><a href="a52016210ex10_1.htm">10.1</a></div>
          </td>
          <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">
            <div><a href="a52016210ex10_1.htm">Employment agreement between Itron, Inc. and Thomas L. Deitrich, dated July 16, 2019.</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 9%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 0.78%; vertical-align: bottom;" rowspan="1">&#160;</td>
          <td style="width: 90%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 9%; vertical-align: top;">
            <div><a href="a52016210ex99_1.htm">99.1</a></div>
          </td>
          <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
          <td style="width: 90%; vertical-align: top;">
            <div><a href="a52016210ex99_1.htm">Press release dated July 22, 2019.</a></div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a52016210ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Business Wire
         Document created using EDGARfilings PROfile 6.0.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
  </div>
  <div> <br>
  </div>
  <div> <img src="logo.jpg">
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">July 16, 2019</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Tom Deitrich</div>
      <div style="font-family: 'Times New Roman',Times,serif;">11900 Sea Eagle Cove</div>
      <div style="font-family: 'Times New Roman',Times,serif;">Austin, TX 78738</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Dear Tom,</div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">On behalf of Itron, Inc. ("Company), we are pleased to promote you to the position of President and Chief Executive Officer of the Company,
        reporting to the Company's Board of Directors (the "Board"), with the authority and duties set forth in the Company's By-laws. This position will be based out of Austin, Texas. For purposes of this letter agreement ("Agreement"), the effective date
        of your promotion and beginning of your new role shall be August 6, 2019 ("Promotion Date").</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">Following are the specifics of your offer:</div>
      <div style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;"> <br>
        </font></div>
      <div style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Base Salary</font></div>
      <div style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;"> <br>
        </font></div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">You will be paid a base salary that annualizes to $800,000 less applicable taxes and withholdings, paid in accordance with the Company's normal
        payroll practices and subject to annual review.</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Executive Management Incentive Plan</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">You will continue to be eligible to participate in the
          Executive Management Incentive Plan ("EMIP"), and we will increase your incentive target to 125% of your annual gross salary. Any bonus payment will be subject to applicable taxes and withholdings. Your 2019 participation will be prorated based
          on the Promotion Date through the end of the fiscal year. Consistent with the terms of the plan, your existing 100% bonus target will apply to the period from January through July 2019. To qualify for the bonus, you must remain continuously employed with the Company through the scheduled payment date, subject to the provisions of the EMIP. The Company
          reserves the right to review, change, amend, or cancel incentive plans at any time.</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
        </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Long-Term Incentives</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">You will receive an equity award under the Company's Long-Term Incentive Plan. For 2019, we will provide you a grant valued at $3,500,000 with
        $1,500,000 of the value in Time-Based RSU's and $2,000,000 in stock options. This grant will be made at the next regular board meeting following your Promotion Date. You also may be eligible to receive future annual grants at a target value of
        $3,000,000, which will be contingent upon your performance.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div>&#160;</div>
      <div style="font-family: 'Times New Roman',Times,serif;">Tom Deitrich</div>
      <div style="font-family: 'Times New Roman',Times,serif;">July 16, 2019</div>
      <div style="font-family: 'Times New Roman',Times,serif;">Page | 2</div>
      <div>&#160;</div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Benefits</div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">If you have questions about continuation of any
        executive benefits, please contact me and we can discuss.</div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: 400;">&#160;</div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Other Agreements</div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">You previously signed the following agreements, each dated October 10, 2015:</div>
      <div>&#160;</div>
      <div>
        <table cellspacing="0" cellpadding="0" id="ze2e10c8c6d3c4691843c15c9887dbb0c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 89.4pt; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Amended and Restated Change in Control Severance Agreement; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z7b975316e8504a34884422bbfa9fba31" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 89.4pt; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Itron, Inc. Indemnification Agreement.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">These agreements will continue to be effective on and after
          your Promotion Date, and you and the Company will continue to be bound by their terms and conditions. If you wish to receive copies of the executed agreements, please let me know. We will be glad to provide those
          to you.</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
        </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Additionally, you will be provided with, and required to sign, an updated Employee Invention and Non-Disclosure Agreement ("NDA"), including
        customary non-solicit and non-compete provisions. Your promotion offer is contingent on executing the updated NDA.</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Insider Trading</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Consistent with current restrictions, you will be prohibited
          from trading Itron securities from time to time in accordance with the Company's Insider Trading Policy and related blackout procedures. A copy of the policy will be provided to you on your Promotion Date, and you will be required to sign a certificate to indicate you have read and understood the
          policy.</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
        </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Mutual Agreement to Arbitrate</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">You and the Company understand and agree that any existing
          or future dispute or claim arising out of or related to your employment, or the termination of your employment, will be resolved by final and binding arbitration and that no other forum for dispute resolution will be available to either party,
          except those claims excluded by law. The decision of the
          arbitrator shall be final and binding on both you and the Company and it shall be enforceable by any court having proper jurisdiction. This Agreement is made in the State of Texas and is governed by Texas law without regard to choice-of-law rules.</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
        </div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Your employment with the Company will be "at will", meaning
          that either you or the Company will be entitled to terminate your employment at any time and for any reason that is not prohibited by law. To accept this offer, please sign this letter in the space provided below and return it to Michel Cadieux
          at michel.cadieux@itron.com.</div>
      <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
        </div>
      <div style="text-align: justify; margin-right: 79.25pt;"> <br>
        </div>
      <div style="text-align: justify; margin-right: 79.25pt;">This Agreement constitutes the entire agreement
          between you and the Company with respect to your employment and supersedes any and all prior or contemporaneous oral or written representations, understandings, agreements or communications.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div> <br>
      </div>
      <div>Tom Deitrich <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">July 16, 2019</div>
      <div style="font-family: 'Times New Roman',Times,serif;">Page | 3</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">On behalf of the entire Itron team, heartiest congratulations in your new role.&#160; We look forward to your continued success and partnership at the
        Company.</div>
      <div style="font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">Warm regards,</div>
      <div style="font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div>/s/ MICHEL CADIEUX <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">Michel Cadieux</div>
      <div style="font-family: 'Times New Roman',Times,serif;">Senior Vice President Human Resources</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">c: Personal File</div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z971e135d00a2405794081a60b78649e9">

            <tr>
              <td style="width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">/s/ TOM DEITRICH<font style="text-indent: 0px; font-size: 5.06pt;"><br>
                </font></td>
              <td style="width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">July 16, 2019</td>
            </tr>
            <tr>
              <td style="width: 50.00%;">Tom Deitrich<br>
              </td>
              <td style="width: 50.00%;">Date<br>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a52016210ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Business Wire
         Document created using EDGARfilings PROfile 6.0.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div class="bw-release">
      <h1 style="text-align: center; list-style-position:inside;FONT-SIZE: 14pt;"> <b>Itron Names Tom Deitrich President and Chief Executive Officer</b> </h1>
      <div class="bw-release-body">
        <div class="bw-release-table-js bw-release-story">
          <p>LIBERTY LAKE, Wash.--(BUSINESS WIRE)--July 22, 2019--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, today announced that its board of directors has appointed Tom Deitrich to the
            position of president and chief executive officer, effective Aug. 6. Deitrich will also join Itron&#8217;s board of directors. Deitrich has served as Itron&#8217;s executive vice president and COO since October 2015. He succeeds Philip Mezey, who has been
            president and CEO since 2013. Mezey announced his retirement earlier this year and will work with Deitrich to ensure a smooth transition. </p>
          <p> &#8220;After conducting an extensive global search considering multiple candidates, the board of directors determined that Tom Deitrich exhibited the best skill set for Itron's continued operational transformation and success, a compelling
            understanding of the marketplace and a strong strategic vision for Itron's future,&#8221; said Lynda Ziegler, chair of Itron&#8217;s board of directors. &#8220;Tom is a seasoned executive, who has been a major contributor to Itron&#8217;s success over the past four
            years, playing critical roles in architecting the company&#8217;s innovation, product and delivery strategies.&#8221; </p>
          <p> &#8220;We thank Philip for his years of service at Itron and wish him well on his retirement,&#8221; added Ziegler. </p>
          <p> After joining Itron in 2015, Deitrich has played a major role in shaping the company&#8217;s strategy to partner with cities and utilities to build secure, reliable, connected communities that can offer a multitude of new services. He architected
            the company&#8217;s innovation and product strategy, created the product business units and global commercial and customer enablement organization, and enhanced our overall operations. </p>
          <p> Deitrich brings more than 20 years of experience in executive management roles in global operations at leading technology firms, including Freescale Semiconductor, Inc. (Freescale), Flextronics International, Inc. (Flextronics), Sony Ericsson
            Mobile Communications, Inc. (Sony) and General Electric Corporation (GE). </p>
          <p> &#8220;I am honored to serve the company in the role of CEO. It&#8217;s my privilege to work more closely with our team members around the globe to better serve our customers. We have a tremendous opportunity to innovate and grow our business in the
            Industrial Internet of Things market, and I&#8217;m committed to executing our strategy and building more value for our customers and shareholders,&#8221; said Deitrich. </p>
          <div> </div>
          <div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt" id="DSPFPageBreakArea">
            <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
              <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
          </div>
          <p> &#8220;Itron is well positioned for the future. We&#8217;ve made tremendous strides in working with our customers to help them transform their businesses so they can better serve their customers. I&#8217;m delighted to hand the reins over to Tom, a proven
            leader at Itron. He understands the challenges and opportunities and is determined to take the organization to the next level of growth and profitability,&#8221; said Mezey. </p>
          <p> <b>About Itron</b> </p>
          <p> Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure services to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our
            customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of
            people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com. </p>
          <p> Itron<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly
            stated. </p>
        </div>
        <div class="bw-release-contact">
          <h2 style="FONT-SIZE: 14pt;">Contacts</h2>
          <p> <b>Itron, Inc. </b><br>
            Alison Mallahan <br>
            Senior Public Relations Manager <br>
            (509) 891-3802 </p>
          <p> Kenneth P. Gianella <br>
            Vice President, Investor Relations <br>
            (669) 770-4643 </p>
        </div>
      </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>logo.jpg
<TEXT>
begin 644 logo.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  (! 0(! 0(" @(" @(" P4# P,#
M P8$! ,%!P8'!P<&!P<("0L)" @*" <'"@T*"@L,# P,!PD.#PT,#@L,# S_
MVP!# 0(" @,# P8# P8," <(# P,# P,# P,# P,# P,# P,# P,# P,# P,
M# P,# P,# P,# P,# P,# P,# P,# S_P  1" !. $4# 2(  A$! Q$!_\0
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<C7[)C' R%06W,2>_3%%?&2IW=S]GP[E[-6/_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
