Reeves Donald L. III 4

What Happened

• Donald L. Reeves III, Senior Vice President, Outcomes at Itron (ITRI), received two awards on 2026-02-18 totaling 20,017 shares (6,527 and 13,490 shares). Both were granted at $0.00 (awarded, not purchased), according to the Form 4 filed 2026-02-20.
• These are equity awards (code A) — one award is a performance-based restricted stock unit (RSU) for the 2023–2025 performance period.

Key Details

• Transaction date: 2026-02-18; Form 4 filed: 2026-02-20 (appears timely).
• Shares awarded: 6,527 and 13,490 = 20,017 total; acquisition price: $0.00 (awards).
• Vesting/conditions: Footnote F1 — one-third vests on the first anniversary of the grant, remaining two-thirds vest in equal quarterly installments over the following 24 months. Footnote F2 — the 13,490 shares represent performance-based RSUs earned for 2023–2025.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Transaction type: Award/Grant (A) — not a market purchase or sale.

Context

• Awards and RSUs are common executive compensation and do not represent an open-market purchase or sale; they reflect pay and/or performance achievement rather than a trading signal.
• Performance-based awards mean actual vesting depends on achievement of pre-set goals for the 2023–2025 period; full ownership is subject to the vesting schedule noted above.