ITRON, INC. — Director's Dealing 2011

Jan 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ITRON INC /WA/ (ITRI)
CIK: 0000780571
Period of Report: 2011-01-19

Reporting Person: BRACY MICHAEL B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-19	Common Stock	M	1000	$13.62	Acquired	25291	Direct
2011-01-19	Common Stock	S	1000	$60.00	Disposed	24291	Direct
2011-01-19	Common Stock	S	1000	$60.00	Disposed	23291	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-19	Stock Option (Right to Buy)	$13.62	M	1000	Disposed	2011-05-16	Common Stock (1000)	Direct

Footnotes

F1: Transactions occurred pursuant to a 10b5-1 Plan