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  <TITLE> ITC Holdings Corp. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	August 15, 2007
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  	ITC Holdings Corp.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Michigan
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  	001-32576
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  	32-0058047
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	39500 Orchard Hill Place, Suite 200, Novi, Michigan
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  	48375
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  _________________________________<BR>
  	(Address of principal executive offices)
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	248-374-7100
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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  Approval of Executive Salary Adjustment<br><br>On August 15, 2007, the Compensation Committee (the "Committee") of the Board of Directors of ITC Holdings Corp. (the "Company") approved changes to the compensation of Joseph L. Welch, the Company&#x2019;s President, Chief Executive Officer and Treasurer.  Mr. Welch&#x2019;s new base salary is $580,000; his previous base salary was $480,000.  In addition, Mr. Welch&#x2019;s 2007 restricted stock and option awards under the Company&#x2019;s 2006 Long Term Incentive Plan are targeted to have a total grant date value of $1.3 million.  Previous awards were targeted to have a total grant date value equal to Mr. Welch&#x2019;s base salary.  The changes follow a review of salary benchmarking studies in consultation with the Committee&#x2019;s compensation consultant and are immediately effective.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	ITC Holdings Corp.
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  <I>
  	August 21, 2007
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  	By:
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  <I>
  	Daniel J. Oginsky
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  	Name: Daniel J. Oginsky
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  	Title: Vice President and General Counsel
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_22255.htm", "description": "LIVE FILING", "secsgml_size_bytes": 9179}]
metadata_filer: {"company-data": {"conformed-name": "ITC Holdings Corp.", "cik": "0001317630", "assigned-sic": "4911", "irs-number": "320058047", "state-of-incorporation": "MI", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32576", "film-number": "071069866"}, "business-address": {"street1": "39500 ORCHARD HILL PLACE, SUITE 200", "city": "NOVI", "state": "MI", "zip": "48375", "phone": "248-374-7100"}, "mail-address": {"street1": "39500 ORCHARD HILL PLACE, SUITE 200", "city": "NOVI", "state": "MI", "zip": "48375"}}
text: ITC Holdings Corp. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  August 15, 2007
  ITC Holdings Corp.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Michigan
  001-32576
  32-0058047
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  39500 Orchard Hill Place, Suite 200, Novi, Michigan
  48375
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  248-374-7100
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
  Approval of Executive Salary Adjustment
  On August 15, 2007, the Compensation Committee (the "Committee") of the Board of Directors of ITC Holdings Corp. (the "Company") approved changes to the compensation of Joseph L. Welch, the Company's President, Chief Executive Officer and Treasurer.  Mr. Welch's new base salary is $580,000; his previous base salary was $480,000.  In addition, Mr. Welch's 2007 restricted stock and option awards under the Company's 2006 Long Term Incentive Plan are targeted to have a total grant date value of $1.3 million.  Previous awards were targeted to have a total grant date value equal to Mr. Welch's base salary.  The changes follow a review of salary benchmarking studies in consultation with the Committee's compensation consultant and are immediately effective.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  ITC Holdings Corp.
  August 21, 2007
  By:
  Daniel J. Oginsky
  Name: Daniel J. Oginsky
  Title: Vice President and General Counsel