secwatch.observer — SEC 8-K summary
======================================

Issuer:     ITRON, INC. (ITRI)
CIK:        0000780571
Form:       8-K
Filed at:   2023-02-27T23:59:59+00:00
Accession:  0001157523-23-000359
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/780571/000115752323000359/0001157523-23-000359-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/780571/000115752323000359/a53346520.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000359

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer