[September 26, 2005] Itron CEO Adopts 10b5-1 Stock Trading Plan Tweet SPOKANE, Wash. --(Business Wire)-- Sept. 26, 2005 -- Itron Inc. (NASDAQ:ITRI) announced today that LeRoy Nosbaum, chairman and chief executive officer, has adopted a stock trading plan to sell a portion of his Itron shares in an orderly manner. The plan is in accordance with guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934. Rule 10b5-1 allows persons who may have material non-public information about a company to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Such plans establish parameters for future stock transactions to automatically take place which may be modified or revoked by the person adopting the plan only in limited circumstances. In providing for these plans, the SEC recognized the need for corporate insiders to gradually diversify their holdings, spread stock trades out over extended periods of time to reduce market impact, without concerns whether such individuals might have had access to material, non-public information at the time of a particular transaction. Under the plan, Mr. Nosbaum will sell up to 100,000 shares, subject to satisfaction of certain conditions. If the conditions are met, sales under the plan may commence in October 2005 and would be completed by December 2006. The 100,000 shares available for sale under the plan represent approximately 30% of the total number of Itron shares held by Mr. Nosbaum, including shares subject to stock options which are exercisable while the plan is in effect. The sales are intended to diversify his holdings and to help meet estate planning goals. All transactions under the plan will, of course, be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. Other officers and directors of the company have also established stock trading plans under Rule 10b5-1, and others may establish such plans in the future. About Itron Itron is a leading technology provider and critical source of knowledge to the global energy and water industries. Nearly 3,000 utilities worldwide rely on Itron's award-winning technology to provide the knowledge they require to optimize the delivery and use of energy and water. Itron creates value for its clients by providing industry-leading solutions for electricity metering; meter data collection; energy information management; demand response; load forecasting, analysis and consulting services; distribution system design and optimization; web-based workforce automation; and enterprise and residential energy management. To know more, start here: www.itron.com. [ Back To TMCnet.com's Homepage ]