Itron (ITRI) CFO Joan Hooper Exercises Options, Sells Shares

What Happened

• Joan S. Hooper, Senior Vice President & Chief Financial Officer of Itron, exercised stock options on Aug 20, 2026, acquiring a total of 5,823 shares (4,380 shares at $68.45 for $299,811; 1,443 shares at $69.30 for $100,000).
• On the same date she sold shares in open-market transactions: 4,041 shares at $98.95 for $399,857 and 365 shares at $97.83 for $35,706 (total proceeds ≈ $435,563).
• The filing shows certain shares were recorded as disposed at $0 — these represent shares withheld/sold to satisfy tax withholding and/or option purchase obligations (see footnotes).

Key Details

• Transaction date: 2026-08-20; Filing date: 2026-08-24. (Filing timeliness not explicitly flagged in the excerpt.)
• Option exercises acquired: 5,823 shares (total exercise cost basis reported as $399,811).
• Open-market sales: 4,406 shares for ≈ $435,563 in gross proceeds.
• Zero-dollar dispositions: 1,443 and 4,380 shares shown as disposed at $0 — tied to withholding/settlement (see F1, F4).
• Footnotes: F1 = automatic share sale to cover tax withholding for RSU vesting; F2/F3 = options fully vested on 6/20/2020 and 2/22/2021; F4 = open-market sales to satisfy option exercise purchase price.
• Shares owned after the transactions are not disclosed in the provided excerpt.

Context

• This pattern (exercise of vested options followed by immediate sales or withholding) is common for executives to cover the option purchase price and tax liabilities — effectively a cashless exercise.
• The exercises relate to options that were already vested (per F2/F3), and the open-market sales appear intended to satisfy payment and tax obligations rather than a straightforward directional bet on the stock.
• Such routine transactions are informational but do not, by themselves, indicate the insider’s long-term view of the company.