UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)

(Amendment No.  )1

Itron, Inc.
(Name of Issuer)

Common Stock, no par value per share
(Title of Class of Securities)

465741106
(CUSIP Number)
 
JEROME J. LANDE
COPPERSMITH CAPITAL MANAGEMENT, LLC
1 World Trade Center, 85th Floor
New York, New York 10007
(212) 804-8001

STEVE WOLOSKY
OLSHAN FROME WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

September 9, 2015
(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.


_______________
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
 
 

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
COPPERSMITH VALUE PARTNERS II, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
160,000
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
160,000
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
160,000
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
PN

 
2

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
COPPERSMITH CAPITAL PARTNERS, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
160,000
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
160,000
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
160,000
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
OO

 
3

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
COPPERSMITH CAPITAL MANAGEMENT, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF, OO
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
920,259
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
920,259
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
920,259
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
2.4%
14
TYPE OF REPORTING PERSON
 
OO

 
4

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
JEROME J. LANDE
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
920,259
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
920,259
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
920,259
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
2.4%
14
TYPE OF REPORTING PERSON
 
IN

 
5

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
CRAIG ROSENBLUM
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
920,259
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
920,259
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
920,259
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
2.4%
14
TYPE OF REPORTING PERSON
 
IN

 
6

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA LONG LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
14,035
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
14,035
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
14,035
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
OO

 
7

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA LB LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
20,224
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
20,224
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
20,224
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
OO

 
8

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA PX LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
389,461
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
389,461
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
389,461
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
1.0%
14
TYPE OF REPORTING PERSON
 
OO

 
9

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA PARTNERS LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
11,539
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
11,539
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
11,539
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
OO

 
10

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA WINDMILL FUND LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
262,040
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
262,040
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
262,040
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
PN

 
11

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA INTERNATIONAL MASTER FUND LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
BERMUDA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
74,666
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
74,666
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
74,666
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
PN

 
12

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA PX INTERNATIONAL MASTER FUND LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
BERMUDA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
518,134
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
518,134
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
518,134
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
1.4%
14
TYPE OF REPORTING PERSON
 
PN

 
13

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA LB INTERNATIONAL MASTER FUND LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
BERMUDA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
42,074
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
42,074
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
42,074
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
PN

 
14

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA LONG INTERNATIONAL MASTER FUND LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
BERMUDA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
58,799
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
58,799
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
58,799
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
PN

 
15

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA CAPITAL GP LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
1,390,972
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
1,390,972
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,390,972
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
3.6%
14
TYPE OF REPORTING PERSON
 
OO

 
16

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA CAPITAL MANAGEMENT LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF, OO
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
1,426,780
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
1,426,780
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,426,780
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
3.7%
14
TYPE OF REPORTING PERSON
 
PN

 
17

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
SCOPIA MANAGEMENT, INC.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
NEW YORK
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
1,426,780
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
1,426,780
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,426,780
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
3.7%
14
TYPE OF REPORTING PERSON
 
CO

 
18

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
MATTHEW SIROVICH
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
1,426,780
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
1,426,780
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,426,780
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
3.7%
14
TYPE OF REPORTING PERSON
 
IN

 
19

 
CUSIP NO. 465741106
 
1
NAME OF REPORTING PERSON
 
JEREMY MINDICH
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
1,426,780
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
1,426,780
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,426,780
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
3.7%
14
TYPE OF REPORTING PERSON
 
IN

 
20

 
CUSIP NO. 465741106
 
The following constitutes the Schedule 13D filed by the undersigned (the “Schedule 13D”).
 
Item 1.
Security and Issuer.
 
This statement relates to shares of the Common Stock, no par value per share (the “Shares”), of Itron, Inc., a Washington corporation (the “Issuer”).  The address of the principal executive offices of the Issuer is 2111 North Molter Road, Liberty Lake, Washington 99019.
 
Item 2.
Identity and Background.
 
(a)           This statement is filed by:
 
 
(i)
Coppersmith Value Partners II, LP, a Delaware limited partnership (“Coppersmith Value II”), with respect to the Shares directly and beneficially owned by it;
 
 
(ii)
Coppersmith Capital Partners, LLC, a Delaware limited liability company (“Coppersmith Partners”), as the general partner of Coppersmith Value II;
 
 
(iii)
Coppersmith Capital Management, LLC, a Delaware limited liability company (“Coppersmith Capital”), as the Investment Manager of Coppersmith Value II and of certain managed accounts (the “Coppersmith Accounts”);
 
 
(iv)
Jerome J. Lande, as the Managing Member of each of Coppersmith Partners and Coppersmith Capital;
 
 
(v)
Craig Rosenblum, as a Member of each of Coppersmith Partners and Coppersmith Capital;
 
 
(vi)
Scopia Long LLC, a Delaware limited liability company (“Scopia Long”), with respect to the Shares directly and beneficially owned by it;
 
 
(vii)
Scopia LB LLC, a Delaware limited liability company (“Scopia LB”), with respect to the Shares directly and beneficially owned by it;
 
 
(viii)
Scopia PX LLC, a Delaware limited liability company (“Scopia PX”), with respect to the Shares directly and beneficially owned by it;
 
 
(ix)
Scopia Partners LLC, a Delaware limited liability company (“Scopia Partners”), with respect to the Shares directly and beneficially owned by it;
 
 
(x)
Scopia Windmill Fund LP, a Delaware limited liability company (“Scopia Windmill”), with respect to the Shares directly and beneficially owned by it;
 
 
(xi)
Scopia International Master Fund LP, a Bermuda limited partnership (“Scopia International”), with respect to the Shares directly and beneficially owned by it;
 
 
21

 
CUSIP NO. 465741106
 
 
(xii)
Scopia PX International Master Fund LP, a Bermuda limited partnership (“Scopia PX International”), with respect to the Shares directly and beneficially owned by it;
 
 
(xiii)
Scopia LB International Master Fund LP, a Bermuda limited partnership (“Scopia LB International”), with respect to the Shares directly and beneficially owned by it;
 
 
(xiv)
Scopia Long International Master Fund LP, a Bermuda limited partnership (“Scopia Long International”), with respect to the Shares directly and beneficially owned by it;
 
 
(xv)
Scopia Capital GP LLC, a Delaware limited liability company (“Scopia Capital”), as the Managing Member of each of Scopia Long, Scopia LB, Scopia PX and Scopia Partners, and the general partner of each of Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International and Scopia Long International;
 
 
(xvi)
Scopia Capital Management LP, a Delaware limited partnership (“Scopia Management”), as the Investment Manager of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International and of a certain separately managed account (the “Managed Account”);
 
 
(xvii)
Scopia Management, Inc., a New York corporation (“Scopia Inc.”), as the general partner of Scopia Management;
 
 
(xviii)
Matthew Sirovich, as a Managing Member of Scopia Capital and Managing Director of Scopia Inc.; and
 
 
(xix)
Jeremy Mindich, as a Managing Member of Scopia Capital and Managing Director of Scopia Inc.
 
Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”  Each of the Reporting Persons is party to that certain Joint Filing Agreement, as described and defined in Item 6.  Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.
 
(b)           The address of the principal office of each of Coppersmith Value II, Coppersmith Partners, Coppersmith Capital and Messrs. Lande and Rosenblum is 1 World Trade Center, 85th Floor, New York, New York 10007.
 
The address of the principal office of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia Capital, Scopia Management, Scopia Inc. and Messrs. Sirovich and Mindich is 152 West 57th Street, 33rd Floor, New York, New York 10019.  The address of the principal office of each of Scopia International, Scopia PX International, Scopia LB International and Scopia Long International is c/o Appleby Services (Bermuda) Limited, Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda.
 
 
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CUSIP NO. 465741106
 
 (c)           The principal business of Coppersmith Value II is investing in securities. The principal business of Coppersmith Partners is serving as the general partner of Coppersmith Value II. The principal business of Coppersmith Capital is serving as the Investment Manager of Coppersmith Value II and the Coppersmith Accounts. The principal occupation of Mr. Lande is serving as the Managing Member of each of Coppersmith Partners and Coppersmith Capital. The principal occupation of Mr. Rosenblum is serving as a Member of each of Coppersmith Partners and Coppersmith Capital.
 
The principal business of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International and Scopia Long International is serving as investment vehicles that invest primarily in publicly-traded equities.  The principal business of Scopia Capital is serving as the Managing Member of each of Scopia Long, Scopia LB, Scopia PX and Scopia Partners, and as the general partner of each of Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International and Scopia Long International.  Scopia Management provides investment advisory and management services and acts as the Investment Manager of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International and of the Managed Account.  Each of Messrs. Sirovich and Mindich serve as a Managing Member of Scopia Capital and Managing Director of Scopia Inc.
 
(d)           No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
 
(e)           No Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
 
(f)           Messrs. Lande, Rosenblum, Sirovich and Mindich are citizens of the United States of America.
 
Item 3.
Source and Amount of Funds or Other Consideration.
 
The Shares purchased by Coppersmith Value II and held in the Coppersmith Accounts were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 160,000 Shares beneficially owned by Coppersmith Value II is approximately $4,760,874, including brokerage commissions. The aggregate purchase price of the 760,259 Shares held in the Coppersmith Accounts is approximately $24,999,999, including brokerage commissions.
 
The Shares purchased by each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International and held in the Managed Account were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein.
 
The aggregate purchase price of the 14,035 Shares beneficially owned by Scopia Long is approximately $446,365, excluding brokerage commissions.
 
 
23

 
CUSIP NO. 465741106
 
The aggregate purchase price of the 20,224 Shares beneficially owned by Scopia LB is approximately $637,926, excluding brokerage commissions.
 
The aggregate purchase price of the 389,461 Shares beneficially owned by Scopia PX is approximately $12,247,563, excluding brokerage commissions.
 
The aggregate purchase price of the 11,539 Shares beneficially owned by Scopia Partners is approximately $363,471, excluding brokerage commissions.
 
The aggregate purchase price of the 262,040 Shares beneficially owned by Scopia Windmill is approximately $8,250,335, excluding brokerage commissions.
 
The aggregate purchase price of the 74,666 Shares beneficially owned by Scopia International is approximately $2,351,570, excluding brokerage commissions.
 
The aggregate purchase price of the 518,134 Shares beneficially owned by Scopia PX International is approximately $16,304,511, excluding brokerage commissions.
 
The aggregate purchase price of the 42,074 Shares beneficially owned by Scopia LB International is approximately $1,288,583, excluding brokerage commissions.
 
The aggregate purchase price of the 58,799 Shares beneficially owned by Scopia Long International is approximately $1,868,943, excluding brokerage commissions.
 
The aggregate purchase price of the 35,808 Shares held in the Managed Account is approximately $1,127,347, excluding brokerage commissions.
 
Item 4.
Purpose of the Transaction.
 
The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity based upon, among other things, the Issuer’s ability to rationalize operations to improve profitability and increase shareholder value through evaluating potential strategic alternatives.  Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
 
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein.  The Reporting Persons intend to review their investment in the Issuer on a continuing basis.  Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board of Directors of the Issuer, engaging in discussions with stockholders of the Issuer and others about the Issuer and the Reporting Persons’ investment, making proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), subsidiary structure or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.
 
 
24

 
CUSIP NO. 465741106
 
Item 5.
Interest in Securities of the Issuer.
 
The aggregate percentage of Shares reported owned by each person named herein is based upon 38,138,896 Shares outstanding as of July 31, 2015, which is the total number of Shares outstanding as reported in the Issuer’s quarterly report on Form 10-Q, filed with the Securities and Exchange Commission on August 6, 2015.
 
A.
Coppersmith Value II
 
 
(a)
As of the close of business on the date hereof, Coppersmith Value II beneficially owned 160,000 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 160,000
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 160,000
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Coppersmith Value II during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
B.
Coppersmith Partners
 
 
(a)
Coppersmith Partners, as the general partner of Coppersmith Value II, may be deemed the beneficial owner of the 160,000 Shares owned by Coppersmith Value II.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 160,000
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 160,000
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
Coppersmith Partners has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of Coppersmith Value II during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
C.
Coppersmith Capital
 
 
(a)
As of the close of business on the date hereof, 760,259 Shares were held in the Coppersmith Accounts. Coppersmith Capital, as the Investment Manager of Coppersmith Value II and the Coppersmith Accounts, may be deemed the beneficial owner of the (i) 160,000 Shares owned by Coppersmith Value II and (ii) 760,259 Shares held in the Coppersmith Accounts.
 
Percentage: Approximately 2.4%
 
 
(b)
1. Sole power to vote or direct vote: 920,259
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 920,259
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Coppersmith Capital through the Coppersmith Accounts and on behalf of Coppersmith Value II during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
 
25

 
CUSIP NO. 465741106
 
D.
Mr. Lande
 
 
(a)
Mr. Lande, as the Managing Member of each of Coppersmith Partners and Coppersmith Capital, may be deemed the beneficial owner of the (i) 160,000 Shares owned by Coppersmith Value II and (ii) 760,259 Shares held in the Coppersmith Accounts.
 
Percentage: Approximately 2.4%
 
 
(b)
1. Sole power to vote or direct vote: 0
 
2. Shared power to vote or direct vote: 920,259
 
3. Sole power to dispose or direct the disposition: 0
 
4. Shared power to dispose or direct the disposition: 920,259

 
(c)
Mr. Lande has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of Coppersmith Value II and through the Coppersmith Accounts during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
E.
Mr. Rosenblum
 
 
(a)
Mr. Rosenblum, as a Member of each of Coppersmith Partners and Coppersmith Capital, may be deemed the beneficial owner of the (i) 160,000 Shares owned by Coppersmith Value II and (ii) 760,259 Shares held in the Coppersmith Accounts.
 
Percentage: Approximately 2.4%
 
 
(b)
1. Sole power to vote or direct vote: 0
 
2. Shared power to vote or direct vote: 920,259
 
3. Sole power to dispose or direct the disposition: 0
 
4. Shared power to dispose or direct the disposition: 920,259

 
(c)
Mr. Rosenblum has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of Coppersmith Value II and through the Coppersmith Accounts during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
F.
Scopia Long
 
 
(a)
As of the close of business on the date hereof, Scopia Long beneficially owned 14,035 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 14,035
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 14,035
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia Long during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
G.
Scopia LB
 
 
(a)
As of the close of business on the date hereof, Scopia LB beneficially owned 20,224 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 20,224
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 20,224
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia LB during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
H.
Scopia PX
 
 
(a)
As of the close of business on the date hereof, Scopia PX beneficially owned 389,461 Shares.
 
Percentage: Approximately 1.0%
 
 
(b)
1. Sole power to vote or direct vote: 389,461
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 389,461
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia PX during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
 
 

 
 
I.
Scopia Partners
 
 
(a)
As of the close of business on the date hereof, Scopia Partners beneficially owned 11,539 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 11,539
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 11,539
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia Partners during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
J.
Scopia Windmill
 
 
(a)
As of the close of business on the date hereof, Scopia Windmill beneficially owned 262,040 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote:  262,040
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition:  262,040
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia Windmill during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
K.
Scopia International
 
 
(a)
As of the close of business on the date hereof, Scopia International beneficially owned 74,666 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 74,666
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 74,666
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia International during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
L.
Scopia PX International
 
 
(a)
As of the close of business on the date hereof, Scopia PX International beneficially owned 518,134 Shares.
 
Percentage: Approximately 1.4%
 
 
(b)
1. Sole power to vote or direct vote: 518,134
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 518,134
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia PX International during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
M.           Scopia LB International
 
 
(a)
As of the close of business on the date hereof, Scopia LB International beneficially owned 42,074 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 42,074
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 42,074
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia LB International during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
N.           Scopia Long International
 
 
(a)
As of the close of business on the date hereof, Scopia Long International beneficially owned 58,799 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 58,799
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 58,799
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia Long International during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
O.
Scopia Capital
 
 
(a)
Scopia Capital, as the Managing Member of each of Scopia Long, Scopia LB, Scopia PX and Scopia Partners, and the general partner of each of Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International and Scopia Long International, may be deemed the beneficial owner of the: (i) 14,035 Shares owned by Scopia Long; (ii) 20,224 Shares owned by Scopia LB; (iii) 389,461 Shares owned by Scopia PX; (iv) 11,539 Shares owned by Scopia Partners; (v)  262,040 Shares owned by Scopia Windmill; (vi) 74,666 Shares owned by Scopia International; (vii) 518,134 Shares owned by Scopia PX International; (viii) 42,074 Shares owned by Scopia LB International; and (ix) 58,799 Shares owned by Scopia Long International.
 
 
 

 
 
Percentage: Approximately 3.6%
 
 
(b)
1. Sole power to vote or direct vote: 1,390,972
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 1,390,972
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
Scopia Capital has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International and Scopia Long International during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
P.
Scopia Management
 
 
(a)
As of the close of business on the date hereof, 35,808 Shares were held in the Managed Account. Scopia Management, as the Investment Manager of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International and the Managed Account, may be deemed the beneficial owner of the: (i) 14,035 Shares owned by Scopia Long; (ii) 20,224 Shares owned by Scopia LB; (iii) 389,461 Shares owned by Scopia PX; (iv) 11,539 Shares owned by Scopia Partners; (v)  262,040 Shares owned by Scopia Windmill; (vi) 74,666 Shares owned by Scopia International; (vii) 518,134 Shares owned by Scopia PX International; (viii) 42,074 Shares owned by Scopia LB International; (ix) 58,799 Shares owned by Scopia Long International; and (x)  35,808 Shares held in the Managed Account.
 
Percentage: Approximately 3.7%
 
 
(b)
1. Sole power to vote or direct vote: 1,426,780
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 1,426,780
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by Scopia Management through the Managed Account and on behalf of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International and Scopia Long International during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
Q.
Scopia Inc.
 
 
(a)
Scopia Inc., as the general partner of Scopia Management, may be deemed the beneficial owner of the: (i) 14,035 Shares owned by Scopia Long; (ii) 20,224 Shares owned by Scopia LB; (iii) 389,461 Shares owned by Scopia PX; (iv) 11,539 Shares owned by Scopia Partners; (v)  262,040 Shares owned by Scopia Windmill; (vi) 74,666 Shares owned by Scopia International; (vii) 518,134 Shares owned by Scopia PX International; (viii) 42,074 Shares owned by Scopia LB International; (ix) 58,799 Shares owned by Scopia Long International; and (x)  35,808 Shares held in the Managed Account.
 
 
 

 
 
Percentage: Approximately 3.7%
 
 
(b)
1. Sole power to vote or direct vote: 1,426,780
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 1,426,780
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
Scopia Inc. has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International and through the Managed Account during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
R.
Mr. Sirovich
 
 
(a)
Mr. Sirovich, as a Managing Member of Scopia Capital and Managing Director of Scopia Inc., may be deemed the beneficial owner of the: (i) 14,035 Shares owned by Scopia Long; (ii) 20,224 Shares owned by Scopia LB; (iii) 389,461 Shares owned by Scopia PX; (iv) 11,539 Shares owned by Scopia Partners; (v)  262,040 Shares owned by Scopia Windmill; (vi) 74,666 Shares owned by Scopia International; (vii) 518,134 Shares owned by Scopia PX International; (viii) 42,074 Shares owned by Scopia LB International; (ix) 58,799 Shares owned by Scopia Long International; and (x)  35,808 Shares held in the Managed Account.
 
Percentage: Approximately 3.7%
 
 
(b)
1. Sole power to vote or direct vote: 0
 
2. Shared power to vote or direct vote: 1,426,780
 
3. Sole power to dispose or direct the disposition: 0
 
4. Shared power to dispose or direct the disposition: 1,426,780

 
(c)
Mr. Sirovich has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International and through the Managed Account during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
S.
Mr. Mindich
 
 
(a)
Mr. Mindich, as a Managing Member of Scopia Capital and Managing Director of Scopia Inc., may be deemed the beneficial owner of the: (i) 14,035 Shares owned by Scopia Long; (ii) 20,224 Shares owned by Scopia LB; (iii) 389,461 Shares owned by Scopia PX; (iv) 11,539 Shares owned by Scopia Partners; (v)  262,040 Shares owned by Scopia Windmill; (vi) 74,666 Shares owned by Scopia International; (vii) 518,134 Shares owned by Scopia PX International; (viii) 42,074 Shares owned by Scopia LB International; (ix) 58,799 Shares owned by Scopia Long International; and (x)  35,808 Shares held in the Managed Account.
 
Percentage: Approximately 3.7%
 
 
 

 
 
 
(b)
1. Sole power to vote or direct vote: 0
 
2. Shared power to vote or direct vote: 1,426,780
 
3. Sole power to dispose or direct the disposition: 0
 
4. Shared power to dispose or direct the disposition: 1,426,780

 
(c)
Mr. Mindich has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of each of Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International and through the Managed Account during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
 
An aggregate of 2,347,039 Shares, constituting approximately 6.2% of the Shares outstanding, are reported in this Schedule 13D.
 
The Reporting Persons, as members of a “group” for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Person.  Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.
 
(d)           No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.
 
 
(e)
Not applicable.
 
Item 6.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
 
On August 5, 2015, Coppersmith Capital, Scopia Management and Messrs. Lande, Rosenblum, Sirovich and Mindich entered into a Joint Filing Agreement (the “Joint Filing Agreement”) in which, among other things, the parties agreed to (a) the joint filing on behalf of each of them of statements on Schedule 13D, and any amendments thereto, with respect to the securities of the Issuer to the extent required by applicable law and (b) form a group for the purpose of engaging in discussions with the Issuer regarding plans or proposals under Item 4 of Schedule 13D. A copy of the Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
On September 21, 2015, Coppersmith Value II, Coppersmith Partners, Scopia Long, Scopia LB, Scopia PX, Scopia Partners, Scopia Windmill, Scopia International, Scopia PX International, Scopia LB International, Scopia Long International,  Scopia Capital and Scopia Inc. entered into a Joinder Agreement (the “Joinder Agreement”) to the Joint Filing Agreement, pursuant to which such parties agreed to be bound by the terms and conditions set forth therein, including, among other things, the joint filing on behalf of each of them of statements on Schedule 13D, and any amendments thereto, with respect to the securities of the Issuer.  A copy of the Joinder Agreement is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
 
Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.
 
Item 7.
Material to be Filed as Exhibits.
 
 
99.1
Joint Filing Agreement, dated August 5, 2015.
 
 
99.2
Joinder Agreement, dated September 21, 2015.
 
 
31

 
CUSIP NO. 465741106
 
SIGNATURES
 
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
 
Dated:  September 21, 2015
 
 
COPPERSMITH VALUE PARTNERS II, LP
   
 
By:
Coppersmith Capital Partners, LLC
General Partner
     
 
By:
/s/ Jerome J. Lande
   
Name:
Jerome J. Lande
   
Title:
Managing Member

 
 
COPPERSMITH CAPITAL PARTNERS, LLC
   
 
By:
/s/ Jerome J. Lande
   
Name:
Jerome J. Lande
   
Title:
Managing Member

 
 
COPPERSMITH CAPITAL MANAGEMENT, LLC
   
 
By:
/s/ Jerome J. Lande
   
Name:
Jerome J. Lande
   
Title:
Managing Member


   
 
/s/ Jerome J. Lande
 
JEROME J. LANDE


   
 
/s/ Craig Rosenblum
 
CRAIG ROSENBLUM
 
 
32

 
CUSIP NO. 465741106


SCOPIA LONG LLC
 
SCOPIA LB LLC
 
SCOPIA PX LLC
 
SCOPIA PARTNERS LLC
 
SCOPIA LONG INTERNATIONAL MASTER FUND LP
 
SCOPIA WINDMILL FUND LP
 
SCOPIA INTERNATIONAL MASTER FUND LP
 
SCOPIA PX INTERNATIONAL MASTER FUND LP
 
SCOPIA LB INTERNATIONAL MASTER FUND LP

By:     Scopia Capital Management LP
           Investment Manager
 
By:     Scopia Management, Inc.
           General Partner
 
By:
/s/ Matthew Sirovich
 
Name:
Matthew Sirovich
 
Title:
Managing Director


 
SCOPIA CAPITAL MANAGEMENT LP
   
 
By:
Scopia Management, Inc.
General Partner
     
 
By:
/s/ Matthew Sirovich
   
Name:
Matthew Sirovich
   
Title:
Managing Director


SCOPIA CAPITAL GP LLC
 
SCOPIA MANAGEMENT, INC.
     
By:
/s/ Matthew Sirovich
 
By:
/s/ Matthew Sirovich
 
Name:
Matthew Sirovich
   
Name:
Matthew Sirovich
 
Title:
Managing Member
   
Title:
Managing Director


   
 
/s/ Matthew Sirovich
 
MATTHEW SIROVICH


   
 
/S/ Jeremy Mindich
 
JEREMY MINDICH
 

 
33

 
CUSIP NO. 465741106

SCHEDULE A
 
Transactions in the Shares During the Past 60 Days
 
Shares of Common Stock
Purchased/(Sold)*
Price Per
Share($)
Date of
Purchase / Sale

COPPERSMITH VALUE PARTNERS II, LP

25,000
30.7177
08/24/2015
20,000
30.1705
08/25/2015
15,000
29.6139
08/26/2015
15,000
29.2986
08/27/2015
10,000
29.9872
08/28/2015
15,000
29.9697
08/31/2015
20,000
29.3630
09/01/2015
5,000
29.1312
09/02/2015
15,000
29.4802
09/03/2015
20,000
28.8441
09/04/2015

COPPERSMITH CAPITAL MANAGEMENT, LLC
(Through the Coppersmith Accounts)

150,000
31.9225
08/06/2015
90,000
32.4412
08/07/2015
33,000
32.8590
08/10/2015
75,000
33.2308
08/11/2015
43,281
33.4169
08/12/2015
80,000
33.4638
08/13/2015
7,500
33.2701
08/14/2015
2,900
33.3803
08/17/2015
132,200
33.4961
08/18/2015
75,000
32.9788
08/19/2015
71,378
32.5521
08/20/2015

SCOPIA LONG LLC

206
31.5034
08/06/2015
1,161
32.4175
08/06/2015
320
31.3972
08/06/2015
581
32.5294
08/07/2015
697
33.3512
08/10/2015
697
33.2919
08/11/2015
581
33.5389
08/12/2015
269
33.5181
08/13/2015
581
33.5758
08/13/2015
 


* All of the transactions on August 31 and September 1, 2015 by the entities and separately managed account that Scopia Capital Management LP serves as the Investment Manager of represent rebalancing transactions among such entities/account.
 
 
 

 
CUSIP NO. 465741106
 
225
33.3663
08/14/2015
121
33.3545
08/17/2015
1,220
33.5650
08/17/2015
871
33.4877
08/18/2015
575
33.0226
08/19/2015
726
32.6012
08/20/2015
546
32.1161
08/21/2015
871
30.4237
08/24/2015
(558)
29.9929
08/31/2015
(65)
29.6185
09/01/2015
38
29.5756
09/01/2015
22
29.0768
09/02/2015
237
29.1613
09/09/2015
237
28.7391
09/10/2015
807
28.3031
09/11/2015
1,187
28.5477
09/14/2015
360
29.5364
09/15/2015
297
30.2308
09/16/2015
247
30.5227
09/17/2015
731  30.4153  09/18/2015
247  30.5432  09/21/2015

SCOPIA LB LLC

409
31.3972
08/06/2015
263
31.5034
08/06/2015
1,484
32.4175
08/06/2015
742
32.5294
08/07/2015
890
33.3512
08/10/2015
890
33.2919
08/11/2015
742
33.5389
08/12/2015
344
33.5181
08/13/2015
742
33.5758
08/13/2015
287
33.3663
08/14/2015
154
33.3545
08/17/2015
1,560
33.5650
08/17/2015
1,113
33.4877
08/18/2015
735
33.0226
08/19/2015
928
32.6012
08/20/2015
698
32.1161
08/21/2015
1,113
30.4237
08/24/2015
(81)
29.9929
08/31/2015
578
29.5756
09/01/2015
(9)
29.6185
09/01/2015
337
29.0768
09/02/2015
347
29.1613
09/09/2015
347
28.7391
09/10/2015
1,179
28.3031
09/11/2015
1,734
28.5477
09/14/2015
526
29.5364
09/15/2015
423
30.2308
09/16/2015
353
30.5227
09/17/2015
 1,043  30.4153  09/18/2015
353   30.5432  09/21/2015
 
 
 

 
CUSIP NO. 465741106
 
SCOPIA PX LLC

7,466
31.3972
08/06/2015
4,798
31.5034
08/06/2015
27,108
32.4175
08/06/2015
13,554
32.5294
08/07/2015
16,265
33.3512
08/10/2015
16,264
33.2919
08/11/2015
13,554
33.5389
08/12/2015
6,289
33.5181
08/13/2015
13,554
33.5758
08/13/2015
5,248
33.3663
08/14/2015
2,819
33.3545
08/17/2015
28,490
33.5650
08/17/2015
20,331
33.4877
08/18/2015
13,425
33.0226
08/19/2015
16,942
32.6012
08/20/2015
12,747
32.1161
08/21/2015
20,332
30.4237
08/24/2015
5,303
30.6464
08/25/2015
654
29.9999
08/31/2015
13,412
29.5756
09/01/2015
7,828
29.0768
09/02/2015
6,827
29.1613
09/09/2015
6,827
28.7391
09/10/2015
23,213
28.3031
09/11/2015
34,137
28.5477
09/14/2015
10,350
29.5364
09/15/2015
8,134
30.2308
09/16/2015
6,779
30.5227
09/17/2015
 20,032  30.4153  09/18/2015
6,779   30.5432  09/21/2015

SCOPIA PARTNERS LLC

227
31.3972
08/06/2015
146
31.5034
08/06/2015
824
32.4175
08/06/2015
412
32.5294
08/07/2015
495
33.3512
08/10/2015
495
33.2919
08/11/2015
412
33.5389
08/12/2015
191
33.5181
08/13/2015
412
33.5758
08/13/2015
160
33.3663
08/14/2015
86
33.3545
08/17/2015
867
33.5650
08/17/2015
618
33.4877
08/18/2015
408
33.0226
08/19/2015
515
32.6012
08/20/2015
388
32.1161
08/21/2015
618
30.4237
08/24/2015
176
30.6464
08/25/2015
 
 
 

 
CUSIP NO. 465741106
 
(78)
29.9929
08/31/2015
333
29.5756
09/01/2015
(9)
29.6185
09/01/2015
195
29.0768
09/02/2015
202
29.1613
09/09/2015
202
28.7391
09/10/2015
688
28.3031
09/11/2015
1,012
28.5477
09/14/2015
307
29.5364
09/15/2015
241
30.2308
09/16/2015
201
30.5227
09/17/2015
594  30.4153  09/18/2015
201  30.5432  09/21/2015

SCOPIA WINDMILL FUND LP

5,126
31.3972
08/06/2015
3,294
31.5034
08/06/2015
18,609
32.4175
08/06/2015
9,304
32.5294
08/07/2015
11,165
33.3512
08/10/2015
11,165
33.2919
08/11/2015
9,304
33.5389
08/12/2015
4,317
33.5181
08/13/2015
9,304
33.5758
08/13/2015
3,602
33.3663
08/14/2015
1,935
33.3545
08/17/2015
19,558
33.5650
08/17/2015
13,957
33.4877
08/18/2015
9,216
33.0226
08/19/2015
11,630
32.6012
08/20/2015
8,750
32.1161
08/21/2015
13,958
30.4237
08/24/2015
3,324
30.6464
08/25/2015
(1,724)
29.9929
08/31/2015
7,619
29.5756
09/01/2015
(201)
29.6185
09/01/2015
4,447
29.0768
09/02/2015
4,649
29.1613
09/09/2015
4,649
28.7391
09/10/2015
15,807
28.3031
09/11/2015
23,245
28.5477
09/14/2015
7,048
29.5364
09/15/2015
5,650
30.2308
09/16/2015
4,709
30.5227
09/17/2015
 13,915  30.4153  09/18/2015
 4,709  30.5432  09/21/2015

SCOPIA INTERNATIONAL MASTER FUND LP

1,467
31.3972
08/06/2015
942
31.5034
08/06/2015
5,325
32.4175
08/06/2015
2,662
32.5294
08/07/2015
3,195
33.3512
08/10/2015
 
 
 

 
CUSIP NO. 465741106
 
3,195
33.2919
08/11/2015
2,662
33.5389
08/12/2015
1,235
33.5181
08/13/2015
2,662
33.5758
08/13/2015
1,031
33.3663
08/14/2015
554
33.3545
08/17/2015
5,596
33.5650
08/17/2015
3,993
33.4877
08/18/2015
2,637
33.0226
08/19/2015
3,328
32.6012
08/20/2015
2,504
32.1161
08/21/2015
3,994
30.4237
08/24/2015
1,047
30.6464
08/25/2015
(404)
29.9929
08/31/2015
2,204
29.5756
09/01/2015
(47)
29.6185
09/01/2015
1,287
29.0768
09/02/2015
1,309
29.1613
09/09/2015
1,309
28.7391
09/10/2015
4,451
28.3031
09/11/2015
6,546
28.5477
09/14/2015
1,985
29.5364
09/15/2015
1,559
30.2308
09/16/2015
1,299
30.5227
09/17/2015
 3,840  30.4153  09/18/2015
 1,299  30.5432  09/21/2015

SCOPIA PX INTERNATIONAL MASTER FUND LP

10,038
31.3972
08/06/2015
6,450
31.5034
08/06/2015
36,444
32.4175
08/06/2015
18,222
32.5294
08/07/2015
21,866
33.3512
08/10/2015
21,867
33.2919
08/11/2015
18,222
33.5389
08/12/2015
8,456
33.5181
08/13/2015
18,222
33.5758
08/13/2015
7,055
33.3663
08/14/2015
3,790
33.3545
08/17/2015
38,303
33.5650
08/17/2015
27,334
33.4877
08/18/2015
18,049
33.0226
08/19/2015
22,778
32.6012
08/20/2015
17,137
32.1161
08/21/2015
27,336
30.4237
08/24/2015
7,182
30.6464
08/25/2015
(780)
29.9929
08/31/2015
16,742
29.5756
09/01/2015
(91)
29.6185
09/01/2015
9,772
29.0768
09/02/2015
9,084
29.1613
09/09/2015
 
 
 

 
CUSIP NO. 465741106
 
9,085
28.7391
09/10/2015
30,881
28.3031
09/11/2015
45,412
28.5477
09/14/2015
13,768
29.5364
09/15/2015
10,823
30.2308
09/16/2015
9,018
30.5227
09/17/2015
26,651  30.4153  09/18/2015
 9,018  30.5432  09/21/2015

SCOPIA LB INTERNATIONAL MASTER FUND LP

464
31.3972
08/06/2015
298
31.5034
08/06/2015
1,683
32.4175
08/06/2015
842
32.5294
08/07/2015
1,010
33.3512
08/10/2015
1,010
33.2919
08/11/2015
842
33.5389
08/12/2015
391
33.5181
08/13/2015
842
33.5758
08/13/2015
326
33.3663
08/14/2015
175
33.3545
08/17/2015
1,769
33.5650
08/17/2015
1,262
33.4877
08/18/2015
834
33.0226
08/19/2015
1,052
32.6012
08/20/2015
791
32.1161
08/21/2015
1,263
30.4237
08/24/2015
5,346
29.9999
08/31/2015
5,521
29.5756
09/01/2015
3,222
29.0768
09/02/2015
722
29.1613
09/09/2015
722
28.7391
09/10/2015
2,456
28.3031
09/11/2015
3,612
28.5477
09/14/2015
1,095
29.5364
09/15/2015
882
30.2308
09/16/2015
735
30.5227
09/17/2015
 2,172  30.4153  09/18/2015
 735  30.5432  09/21/2015

SCOPIA LONG INTERNATIONAL MASTER FUND LP

1,329
31.3972
08/06/2015
854
31.5034
08/06/2015
4,827
32.4175
08/06/2015
2,413
32.5294
08/07/2015
2,896
33.3512
08/10/2015
2,896
33.2919
08/11/2015
2,413
33.5389
08/12/2015
1,120
33.5181
08/13/2015
2,413
33.5758
08/13/2015
934
33.3663
08/14/2015
502
33.3545
08/17/2015
 
 
 

 
CUSIP NO. 465741106
 
5,073
33.5650
08/17/2015
3,620
33.4877
08/18/2015
2,390
33.0226
08/19/2015
3,017
32.6012
08/20/2015
2,270
32.1161
08/21/2015
3,620
30.4237
08/24/2015
(2,192)
29.9929
08/31/2015
275
29.5756
09/01/2015
(257)
29.6185
09/01/2015
161
29.0768
09/02/2015
994
29.1613
09/09/2015
994
28.7391
09/10/2015
3,381
28.3031
09/11/2015
4,973
28.5477
09/14/2015
1,508
29.5364
09/15/2015
1,243
30.2308
09/16/2015
1,036
30.5227
09/17/2015
 3,060  30.4153  09/18/2015
 1,036  30.5432  09/21/2015

SCOPIA CAPITAL MANAGEMENT LP
(Through the Managed Account)

698
31.3972
08/06/2015
449
31.5034
08/06/2015
2,535
32.4175
08/06/2015
1,268
32.5294
08/07/2015
1,521
33.3512
08/10/2015
1,521
33.2919
08/11/2015
1,268
33.5389
08/12/2015
588
33.5181
08/13/2015
1,268
33.5758
08/13/2015
491
33.3663
08/14/2015
264
33.3545
08/17/2015
2,664
33.5650
08/17/2015
1,901
33.4877
08/18/2015
1,256
33.0226
08/19/2015
1,584
32.6012
08/20/2015
1,192
32.1161
08/21/2015
1,902
30.4237
08/24/2015
610
30.6464
08/25/2015
(183)
29.9929
08/31/2015
1,078
29.5756
09/01/2015
(21)
29.6185
09/01/2015
629
29.0768
09/02/2015
629
29.1613
09/09/2015
628
28.7391
09/10/2015
2,137
28.3031
09/11/2015
3,142
28.5477
09/14/2015
953
29.5364
09/15/2015
748
30.2308
09/16/2015
623
30.5227
09/17/2015
 1,842  30.4153  09/18/2015
 623  30.5432 09/21/2015 



Exhibit 99.1
 
JOINT FILING AGREEMENT
 
This Agreement (this “Agreement”) is made and entered into as of August 5, 2015, by and among (1) Coppersmith Capital Management, LLC, Jerome J. Lande and Craig Rosenblum (together, “Coppersmith”) and (2) Scopia Capital Management LP, Matthew Sirovich and Jeremy Mindich (together, “Scopia” and with Coppersmith, each a “Party” and, collectively, the “Parties” or the “Group”).
 
WHEREAS, each of the Parties are or intend to become stockholders, direct or beneficial, of Itron, Inc., a Washington corporation (the “Company”);
 
WHEREAS, the Parties wish to form a group for the purpose of (i) engaging in discussions with the Company regarding plans or proposals under Item 4 of Schedule 13D in accordance with the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (ii) taking all other action necessary to achieve the foregoing and (iii) taking any other actions the Group determines to undertake in connection with their respective investment in the Company.
 
NOW, IT IS AGREED, by the Parties:
 
1.           In accordance with Rule 13d-1(k)(1)(iii) under the Exchange Act, each of the undersigned agrees to the joint filing on behalf of each of them of statements on Schedule 13D, and any amendments thereto, with respect to the securities of the Company.  Each member of the Group shall be responsible for the accuracy and completeness of its own disclosure therein, and is not responsible for the accuracy and completeness of the information concerning the other member, unless such member has actual knowledge that such information is inaccurate. Coppersmith or its representative shall provide each member of the Group with copies of all Schedule 13D filings and other public filings to be filed on behalf of such member at least one business day prior to the filing or submission thereof; provided, however, if one business day’s notice is not practicable, such copies will be provided with as much notice as practicable.
 
2.           So long as this Agreement is in effect, each Party shall provide written notice to Olshan Frome Wolosky LLP (“Olshan”) promptly following (i) every purchase or sale of securities of the Company and (ii) every acquisition or disposition of beneficial ownership of any securities of the Company; provided, however, that each Party agrees not to purchase or sell securities of the Company or otherwise increase or decrease its economic exposure to or beneficial ownership over the securities of the Company if it reasonably believes that, as a result of such action, the Group or any member thereof would be likely to be required to make any regulatory filing (including, but not limited to, a Schedule 13D amendment, Form 3 or Form 4 with the Securities and Exchange Commission (the “SEC”)) without using its reasonable efforts to give the other members of the Group at least 24 hours prior written notice; provided, further, that no Party shall buy, or increase any beneficial ownership over, any securities of the Company if, as a result of such action, the Group would beneficially own more than 9.9% of the Company's common stock, without the prior consent of the other Party.  For purposes of this Agreement, the term “beneficial ownership” shall have the meaning of such term set forth in Rule 13d-3 under the Exchange Act.
 
 
 

 
 
3.           Each Party agrees to form the Group for the purpose of (i) engaging in discussions with the Company regarding plans or proposals under Item 4 of Schedule 13D in accordance with the Exchange Act, (ii) taking all other action necessary to achieve the foregoing and (iii) taking any other actions the Group determines to undertake in connection with their respective investment in the Company.
 
4.           Coppersmith shall have the right to pre-approve all expenses incurred in connection with the Group’s activities (“Group Expenses”).  Upon reasonable request, Coppersmith will supply supporting documentation in reasonable detail for such Group Expenses.  Each of Coppersmith and Scopia agrees to pay directly all such Group Expenses on a percentage basis based on its pro rata ownership percentage of the securities of the Company held by the Group, which are the following percentages: Coppersmith: 50% of such expenses and Scopia: 50% of such expenses.  These percentages shall be adjusted each month based on such Party’s respective ownership percentage as of the last day of the preceding month.  Notwithstanding the foregoing, in the event that Scopia terminates this Agreement pursuant to Section 10, it shall only be responsible for its pro rata share of any Group Expenses (i) incurred up to the termination date, or (ii) relating to actions taken prior to the termination date where such actions were previously approved by the Group.
 
5.           Each Party agrees that any SEC filing, press release, communication to the Company or communication to other stockholders proposed to be made or issued by the Group or any member of the Group in connection with the Group’s activities set forth in Section 3 shall be as determined by Coppersmith (“Company Communication”).  Coppersmith will provide notice to and a reasonable opportunity for each of the Parties to review and comment upon any such SEC filing, press release or communication, or any proposed agreement or negotiating position with respect to the Company.  Subject to the foregoing, the Parties hereby agree to work in good faith to resolve any disagreement that may arise between or among any of the members of the Group concerning decisions to be made, actions to be taken or statements to be made in connection with the Group’s activities.  In the absence of disagreement, Coppersmith shall have discretion over the content and timing of public or private communications and negotiating positions taken on behalf of the Group.  Notwithstanding the foregoing, Scopia shall have the right at all times to make such SEC filings and take such other actions if advised by counsel that it is required to do so under applicable laws, rules or regulations (including, but not limited to, the filing of a Schedule 13D, Form 3 or Form 4, or any amendment thereto, with the SEC and to the extent reasonably practicable, provide Coppersmith with written notice prior to taking such action).  Coppersmith hereby agrees to indemnify, defend and hold harmless Scopia from and against any and all liabilities, claims, or losses resulting from or arising out of its negligence, bad faith or willful misconduct in connection with the determinations that it makes and the exercise of its discretion, referred to in this Section 5.  Scopia hereby agrees to indemnify, defend and hold harmless Coppersmith from and against any and all liabilities, claims, or losses resulting from or arising out of its negligence, bad faith or willful misconduct in connection with the determinations that it makes and the exercise of its discretion, referred to in this Section 5.
 
6.           Each Party understands and agrees that this is an exclusive arrangement and no additional group members shall be admitted without the mutual written agreement of the Parties.
 
 
2

 
 
7.           The relationship of the Parties hereto shall be limited to carrying on the business of the Group in accordance with the terms of this Agreement.  Such relationship shall be construed and deemed to be for the sole and limited purpose of carrying on such business as described herein.  Nothing herein shall be construed to authorize any Party to act as an agent for any other Party, or to create a joint venture or partnership.  Except as specifically provided in this Agreement, nothing herein shall restrict any Party’s right to purchase or sell securities of the Company, as it deems appropriate, in its sole discretion, provided that all such sales are made in compliance with all applicable securities laws.
 
8.           This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute but one and the same instrument, which may be sufficiently evidenced by one counterpart.
 
9.           In the event of any dispute arising out of the provisions of this Agreement or their investment in the Company, the Parties hereto consent and submit to the exclusive jurisdiction of the United States District Court for the Southern District of New York located in the Borough of Manhattan or the courts of the State of New York located in the County of New York.
 
10.           Any Party may terminate its obligations under this Agreement (i) for any reason upon ten (10) business days’ prior written notice to all other Parties, with a copy by fax to Steve Wolosky at Olshan, Fax No. (212) 451-2222, and (ii) a non-breaching Party may terminate its obligations under this Agreement immediately upon another Party’s breach of its obligations under this Agreement. Notwithstanding the foregoing, the rights and obligations set forth in Section 4 and Section 9 shall survive any termination of this Agreement.
 
11.           Each Party acknowledges that Olshan shall act as counsel for both the Group and Coppersmith and its affiliates relating to their investment in the Company. Scopia acknowledges that it has been advised by separate counsel in the negotiation of the terms and conditions of this Agreement.  Each of the Parties has reviewed and signed a conflict waiver in connection with Olshan’s representation of the Group.
 
12.           The terms and provisions of this Agreement may not be modified, waived or amended without the written consent of each of the Parties.
 

13. Each Party hereby agrees that this Agreement shall be filed as an exhibit to a Schedule 13D pursuant to Rule 13d-1(k)(1)(iii) under the Exchange Act.


[signature page follows]
 
 
3

 

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the day and year first above written.
 
 
COPPERSMITH CAPITAL MANAGEMENT, LLC
   
   
 
By:
/s/ Jerome J. Lande
   
Name:
Jerome J. Lande
   
Title:
Managing Member

   
 
/s/ Jerome J. Lande
 
JEROME J. LANDE

   
 
/s/ Craig Rosenblum
 
CRAIG ROSENBLUM

 

 
 
SCOPIA CAPITAL MANAGEMENT LP
   
   
 
By:
/s/ Matthew Sirovich
   
Name:
Matthew Sirovich
   
Title:
Managing Director of its General Partner

 
   
 
/s/ Matthew Sirovich
 
MATTHEW SIROVICH

 
   
 
/s/ Jeremy Mindich
 
JEREMY MINDICH

 


Exhibit 99.2
 
JOINDER AGREEMENT
 
This JOINDER AGREEMENT (the “Joinder”) is dated as of September 21, 2015 by and among Coppersmith Capital Management, LLC, Scopia Capital Management LP, Jerome J. Lande, Craig Rosenblum, Matthew Sirovich and Jeremy Mindich (collectively, the “Existing Members”) and Coppersmith Value Partners II, LP, Coppersmith Capital Partners, LLC, Scopia Long LLC, Scopia LB LLC, Scopia PX LLC, Scopia Partners LLC, Scopia Windmill Fund LP, Scopia International Master Fund LP, Scopia PX International Master Fund LP, Scopia LB International Master Fund LP, Scopia Long International Master Fund LP, Scopia Capital GP LLC and Scopia Management, Inc. (each a “New Member” and collectively, the “New Members”).
 
WHEREAS, the Existing Members are parties to that certain Joint Filing Agreement dated as of August 5, 2015 (the “Agreement”), pursuant to which the Existing Members formed a “group” (as contemplated by Section 13(d) of the Securities Exchange Act of 1934, as amended) for the purpose of (i) engaging in discussions with Itron, Inc., a Washington corporation (the “Company”), regarding plans or proposals under Item 4 of Schedule 13D, (ii) taking all other action necessary to achieve the foregoing and (iii) taking any other actions the group determines to undertake in connection with their respective investment in the Company; and
 
WHEREAS, the New Members desire to join the group formed by the Existing Members.
 
NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements of the parties herein contained, the parties hereby agree as follows:
 
1.         Effective immediately, each New Member is joined as a party to the Agreement.
 
2.         Each New Member agrees to be bound by the terms of the Agreement, including the obligations of a member of the Group (as defined in the Agreement), the terms of which are incorporated herein and made a part hereof.
 
3.         This Joinder may be executed in counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute but one and the same instrument, which may be sufficiently evidenced by one counterpart.
 
[Signatures appear on next page]
 
 
 

 
 
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first above written.
 
 
COPPERSMITH VALUE PARTNERS II, LP
   
 
By:
Coppersmith Capital Partners, LLC
General Partner
     
 
By:
/s/ Jerome J. Lande
   
Name:
Jerome J. Lande
   
Title:
Managing Member

 
 
COPPERSMITH CAPITAL PARTNERS, LLC
   
 
By:
/s/ Jerome J. Lande
   
Name:
Jerome J. Lande
   
Title:
Managing Member

 
 
COPPERSMITH CAPITAL MANAGEMENT, LLC
   
 
By:
/s/ Jerome J. Lande
   
Name:
Jerome J. Lande
   
Title:
Managing Member


   
 
/s/ Jerome J. Lande
 
JEROME J. LANDE


   
 
/s/ Craig Rosenblum
 
CRAIG ROSENBLUM
 
 
 

 


SCOPIA LONG LLC
 
SCOPIA LB LLC
 
SCOPIA PX LLC
 
SCOPIA PARTNERS LLC
 
SCOPIA LONG INTERNATIONAL MASTER FUND LP
 
SCOPIA WINDMILL FUND LP
 
SCOPIA INTERNATIONAL MASTER FUND LP
 
SCOPIA PX INTERNATIONAL MASTER FUND LP
 
SCOPIA LB INTERNATIONAL MASTER FUND LP

By:     Scopia Capital Management LP
           Investment Manager
 
By:     Scopia Management, Inc.
           General Partner
 
By:
/s/ Matthew Sirovich
 
Name:
Matthew Sirovich
 
Title:
Managing Director


 
SCOPIA CAPITAL MANAGEMENT LP
   
 
By:
Scopia Management, Inc.
General Partner
     
 
By:
/s/ Matthew Sirovich
   
Name:
Matthew Sirovich
   
Title:
Managing Director


SCOPIA CAPITAL GP LLC
 
SCOPIA MANAGEMENT, INC.
     
By:
/s/ Matthew Sirovich
 
By:
/s/ Matthew Sirovich
 
Name:
Matthew Sirovich
   
Name:
Matthew Sirovich
 
Title:
Managing Member
   
Title:
Managing Director


   
 
/s/ Matthew Sirovich
 
MATTHEW SIROVICH


   
 
/S/ Jeremy Mindich
 
JEREMY MINDICH
 

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