Form 4: Itron Executive Sells Shares to Cover Tax Obligations

Christopher E. Ware, SVP, GC & Corp. Secretary of Itron, Inc., sold 91 shares of common stock to cover tax obligations related to a restricted stock unit vesting.

Summary

• Christopher E. Ware, a Senior Vice President, General Counsel, and Corporate Secretary at Itron, Inc., sold 91 shares of the company's common stock on November 25, 2024.
• The sale was executed at a price of $119.7476 per share.
• This transaction was conducted to cover tax withholding obligations associated with the vesting of a restricted stock unit award.
• Following the transaction, Mr. Ware directly owns 15,098 shares of Itron common stock.

Sentiment

Score: 5

Explanation: This is a neutral event, a routine transaction for tax purposes, and does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total holdings of the executive, suggesting this is a routine tax-related transaction rather than a significant change in the executive's investment position.
• Similar transactions are regularly reported by executives at companies like Honeywell, Landis+Gyr, and Badger Meter, which are also in the industrial technology and metering space.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors as it is a routine tax-related sale.

Key Dates

Keywords

insider trading, stock sale, restricted stock unit, tax obligations, executive, ITRI, Itron