---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000359"
form_type: "8-K"
ticker: "ITRI"
cik: "0000780571"
company_name: "ITRON, INC."
filed_at: "2023-02-27T23:59:59+00:00"
generated_at: "2026-06-19T00:10:17.377293+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Itron approves $40-45M restructuring plan; expects $14-17M annual savings

## Summary
- Board approved 2023 Projects restructuring plan on Feb 23, 2023; estimated pre-tax charges of $40-45M, ~95% cash.
- Majority of charges expected in Q1 2023; projects substantially complete by early 2025.
- Annualized savings estimated at $14-17M once substantially completed.
- Credit agreement amended to allow addback of up to $40M in non-recurring cash restructuring expenses in Q1 2023 for EBITDA.

## SEC filing metadata
- accession: 0001157523-23-000359
- form_type: 8-K
- ticker: ITRI
- cik: 0000780571
- company_name: ITRON, INC.
- filed_at: 2023-02-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/780571/000115752323000359/0001157523-23-000359-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/780571/000115752323000359/a53346520.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000359
- JSON: https://secwatch.observer/filing/0001157523-23-000359.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000359.txt

## Key facts
- Material Agreements
  ITRON, INC. amended Amendment No. 6 to Credit Agreement with Wells Fargo Bank, National Association, as administrative agent valued at $40 million (effective 2023-02-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent
  - Value: $40 million
  - Effective: 2023-02-21
  source text: On February 21, 2023, Itron, Inc. (Itron) entered into Amendment No. 6 to Credit Agreement (the Amendment), which amends Iton's Second Amended and Restated Credit Agreement, dated as of January 5, 2018 (as amended, the Credit Agreement), among Itron, as borrower, the lenders from time to time thereto and Wells Fargo Bank, National Association, as administrative agent (the Administrative Agent).
  evidence_url: https://www.sec.gov/Archives/edgar/data/780571/000115752323000359/0001157523-23-000359-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.