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<title>itc-20211111</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:EntityCentralIndexKey" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV80L2ZyYWc6YTA0Y2RiMGI4MjM2NGNkODljYzNkMGIwMWFiOWI1ZGMvdGFibGU6ZDJiOGZlYjhiNGU5NGNkM2EzZTI3OGJiMDhlMGUxZDAvdGFibGVyYW5nZTpkMmI4ZmViOGI0ZTk0Y2QzYTNlMjc4YmIwOGUwZTFkMF8yLTEtMS0xLTY1Mzc3_e74bc25f-0695-4ee0-8914-5b25e141766c">0001317630</ix:nonNumeric><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:AmendmentFlag" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV80L2ZyYWc6YTA0Y2RiMGI4MjM2NGNkODljYzNkMGIwMWFiOWI1ZGMvdGFibGU6ZDJiOGZlYjhiNGU5NGNkM2EzZTI3OGJiMDhlMGUxZDAvdGFibGVyYW5nZTpkMmI4ZmViOGI0ZTk0Y2QzYTNlMjc4YmIwOGUwZTFkMF81LTEtMS0xLTY1Mzc3_4158673f-f700-4cda-ae7f-027c5f3697a9">false</ix:nonNumeric></ix:hidden><ix:references xml:lang="en-US"><link:schemaRef xlink:type="simple" xlink:href="itc-20211111.xsd"></link:schemaRef></ix:references><ix:resources><xbrli:context id="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001317630</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-11-11</xbrli:startDate><xbrli:endDate>2021-11-11</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div id="i10c4bd74c4474ec2beb533b02f83531a_1"></div><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">UNITED STATES <br/>SECURITIES AND EXCHANGE COMMISSION</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Washington, DC 20549</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%">FORM <ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:DocumentType" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzM1_9bd2234b-b6f8-4122-9b0a-896a335d4a91">8-K</ix:nonNumeric> </span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CURRENT REPORT <br/>Pursuant to Section&#160;13 or 15(d) of the <br/>Securities Exchange Act of 1934</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date of Report (Date of earliest event reported):</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> <ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" format="ixt:date-monthname-day-year-en" name="dei:DocumentPeriodEndDate" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18yMzQ_3db66857-90cf-40ea-a109-d134834a246e">November 11, 2021</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:24pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:EntityRegistrantName" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzI2_1b9daded-7d87-4abe-92d4-5b176fa4dab8">ITC HOLDINGS CORP.</ix:nonNumeric> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Exact Name of Registrant as Specified in its Charter)</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commission File Number: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:EntityFileNumber" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzI3_56941d8d-0631-4324-b428-2b45364e121d">001-32576</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:48.498%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.602%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.500%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGFibGU6OTM3NDIyMWQ5NWI2NDM3Njg0ZjlhYjM2OGEyMWQyMWUvdGFibGVyYW5nZTo5Mzc0MjIxZDk1YjY0Mzc2ODRmOWFiMzY4YTIxZDIxZV8wLTAtMS0xLTY1Mzc3_e35f4b0f-abfd-451f-9c9a-107f1a8c24fa">Michigan</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:EntityTaxIdentificationNumber" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGFibGU6OTM3NDIyMWQ5NWI2NDM3Njg0ZjlhYjM2OGEyMWQyMWUvdGFibGVyYW5nZTo5Mzc0MjIxZDk1YjY0Mzc2ODRmOWFiMzY4YTIxZDIxZV8wLTItMS0xLTY1Mzc3_61f722dd-5bfd-4463-a07b-9210a2c00c66">32-0058047</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(State of Incorporation)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(IRS Employer Identification No.)</span></td></tr></table></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:EntityAddressAddressLine1" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzM2_90c67767-3eb1-425a-a31f-1b119f08bb70">27175 Energy Way</ix:nonNumeric>, <ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:EntityAddressCityOrTown" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzIz_c385e6e2-7043-4e17-944d-7e4114002307">Novi</ix:nonNumeric>, <ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzMw_3a3a2727-e1af-4274-9045-bad8078db27e">Michigan</ix:nonNumeric> <ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:EntityAddressPostalZipCode" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzI1_200b2fb3-3164-4ed1-8f78-f0729e3b1819">48377</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> <br/>(Address of principal executive offices) (zip code)</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(<ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:CityAreaCode" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzMx_8967250c-0204-42bf-9dff-fa06153fcdad">248</ix:nonNumeric>)&#160;<ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" name="dei:LocalPhoneNumber" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzI4_586bb168-746c-4b34-ab83-4e7eabb015b4">946-3000</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> <br/>(Registrant&#8217;s telephone number, including area code)</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Not Applicable</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> <br/>(Former name or former address, if changed since last report)</span></div><div style="text-align:center"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" format="ixt-sec:boolballotbox" 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id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzI0_390a01a8-5a5a-4102-8b22-bd5810d5e4e0">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzMz_d83c6357-c044-4b2b-b951-7d9b91251092">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered pursuant to Section 12(b) of the Act: </span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:34.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:39.446%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:2pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title of each class</span></div></td><td colspan="3" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:2pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trading Symbol(s)</span></div></td><td colspan="3" style="border-left:1pt solid #00000a;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:2pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name of each exchange on which registered</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00000a;border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:2pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None</span></div></td><td colspan="3" style="border-bottom:1pt solid #00000a;border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:2pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None</span></div></td><td colspan="3" style="border-bottom:1pt solid #00000a;border-left:1pt solid #00000a;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:2pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None</span></div></td></tr></table></div><div style="margin-top:1pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule&#160;12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</span></div><div style="margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Emerging growth company </span><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia3a50cd5309f4cd9a1f7cb6c7790ffe8_D20211111-20211111" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="id3VybDovL2RvY3MudjEvZG9jOjEwYzRiZDc0YzQ0NzRlYzJiZWI1MzNiMDJmODM1MzFhL3NlYzoxMGM0YmQ3NGM0NDc0ZWMyYmViNTMzYjAyZjgzNTMxYV8xL2ZyYWc6YjI1NmJlMTA1OTBlNDRjMDkzNjkyNzEzNTc1NDkzNzMvdGV4dHJlZ2lvbjpiMjU2YmUxMDU5MGU0NGMwOTM2OTI3MTM1NzU0OTM3M18xNzM0_7316fa2f-3c0e-441f-82c6-95d97c5722b4">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act. </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:12pt;font-weight:400;line-height:120%">o</span></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="i10c4bd74c4474ec2beb533b02f83531a_10"></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div style="padding-left:18pt"><span><br/></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 5.02(e)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Approval of 2022 Annual Incentive Compensation Plan</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 11, 2021, the Governance and Human Resources Committee of ITC Holdings Corp. (the &#8220;Company&#8221;) approved the 2022 annual incentive plan for the Company&#8217;s executives, including the &#8220;Named Executive Officers&#8221; of the Company as of November 11, 2021. Awards made in accordance with this plan are treated as incentive awards under the Company&#8217;s Amended 2017 Omnibus Plan. Goals and payout weighting under the 2022 annual incentive plan are as follows:</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.188%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:53.707%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.805%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Category</span></div></td><td colspan="3" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Goal</span></div></td><td colspan="3" style="border-left:1pt solid #00000a;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Weight</span></div></td></tr><tr style="height:24pt"><td colspan="3" rowspan="3" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Safety &amp; Compliance</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">15% Maximum Potential Payout</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">2 or fewer lost work day cases for injuries to Company employees and specified contractor employees</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:24pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">7 or fewer recordable incidents for injuries to Company employees and specified contractor employees</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:24pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Infrastructure Protection: Implementation of 2022 cyber security objectives</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr><td colspan="3" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Culture</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5% Maximum Potential Payout</span></div></td><td colspan="3" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Implementation of 2022 inclusion &amp; diversity objectives</span></div></td><td colspan="3" style="border-left:1pt solid #00000a;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:24pt"><td colspan="3" rowspan="7" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">System Performance</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">60% Maximum Potential Payout</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ITCTransmission: 12 or fewer forced, sustained line outages, excluding certain catastrophic weather events</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:24pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">METC: 23 or fewer forced, sustained line outages, excluding certain catastrophic weather events</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:36pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ITC Midwest: 57 or fewer forced, sustained line outages, excluding certain catastrophic weather events, no more than 46 at the 69 kV level</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:24pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ITCTransmission: Complete the 15 high priority 2022 field operation and maintenance initiatives</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:24pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">METC: Complete the 13 high priority 2022 field operation and maintenance initiatives</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:24pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ITC Midwest: Complete the 10 high priority 2022 field operation and maintenance initiatives</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%</span></div></td></tr><tr style="height:47pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ITCTransmission, METC, ITC Midwest, and ITC Great Plains: Complete $802 million of the 2022 Capital Expenditure budget for approved projects to achieve 30%; complete $760 million to achieve 15%</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">15%-30%</span></div></td></tr><tr style="height:47pt"><td colspan="3" rowspan="2" style="border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Financial</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">20% Maximum Potential Payout</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ITCTransmission, METC, ITC Midwest, ITC Great Plains, and ITC Interconnection: Non-field operation and maintenance expense and general and administrative expense at or under budget of $161 million</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">10%</span></div></td></tr><tr style="height:47pt"><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ITCTransmission, METC, ITC Midwest, ITC Great Plains, and ITC Interconnection: Combined adjusted net income at or above $544 million to achieve 10%; at or above $517 million to achieve 5%</span></div></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">5%-10%</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00000a;border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #00000a;border-left:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Total</span></div></td><td colspan="3" style="border-bottom:1pt solid #00000a;border-left:1pt solid #00000a;border-right:1pt solid #00000a;border-top:1pt solid #00000a;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">100%</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Field operation and maintenance (&#8220;O&amp;M&#8221;) plan goals may be reduced by 5% if not at or under Field O&amp;M overall maintenance budget of $92.4 million.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our 2022 annual incentive plan also includes a bonus multiplier for executive officers under which annual incentive bonus awards may be increased by as much as 100% to the extent specified targets related to our Capital Investment Plan (30% weight), Strategic Plan Objectives (30% weight), Consolidated Net Income (30% weight) and Inclusion and Diversity Plan (10% weight) are achieved. </span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="padding-left:18pt"><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendment of Executive Omnibus Plan </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 11, 2021,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) amended the Company&#8217;s Executive Omnibus Plan, Effective as of February 4, 2020 (the &#8220;Executive Plan&#8221;).</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Among other changes, the Executive Plan was amended to provide that upon a Change of Control (as defined in the Executive Plan) the Committee, may provide Replacement Awards (as defined in the Executive Plan), on terms determined by the Governance and Human Resources Committee (the &#8220;Committee&#8221;), to Participants (as defined in the Executive Plan) that are substantially equivalent to the terms of awards held by such Participants immediately prior to the Change in Control subject to certain conditions as described in the Executive Plan. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These conditions, include, but are not limited to, the condition that if there is an Involuntary Employment Action (as defined in the Executive Plan) in respect of a Participant within 24 months following the Change of Control, any conditions on the Participant&#8217;s rights under, or any restrictions on vesting applicable to, such Replacement Awards held by such Participant shall be waived or shall lapse, as the case may be, and any performance-based restrictions shall be deemed to have been achieved at the greater of: (A) target level performance,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and (B) the actual performance level achieved had the Payment Criteria Period (as defined in the Executive Plan) ended on the Involuntary Redemption Date (as defined in the Executive Plan), to the extent reasonably determinable by the Committee.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The above description of the amendment to the Executive Plan does not constitute a complete summary of the amendment to the Executive Plan. Such description is qualified in its entirety by reference to the Executive Plan, as Amended a copy of which will be filed as an exhibit to the Company&#8217;s next Annual Report on Form 10-K.</span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="padding-left:18pt;text-indent:-18pt"><span><br/></span></div><div style="margin-top:11pt;text-indent:36pt"><span><br/></span></div><div style="margin-top:11pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:108%">SIGNATURES</span></div><div style="margin-top:11pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:108%">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.</span></div><div style="margin-top:11pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:105%">November 16, 2021</span></div><div style="margin-top:11pt;text-align:right"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:339.75pt"><tr><td style="width:1.0pt"></td><td style="width:19.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:142.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:142.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:28.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:24pt"><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">ITC HOLDINGS CORP.<br/>&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By:</span></td><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/ Christine Mason Soneral</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Christine Mason Soneral</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Its:</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Senior Vice President, General Counsel, Chief Compliance Officer and Secretary</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div></body></html>
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itc-20211111
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
November 11, 2021
ITC HOLDINGS CORP.
(Exact Name of Registrant as Specified in its Charter)
Commission File Number:
001-32576
Michigan
32-0058047
(State of Incorporation)
(IRS Employer Identification No.)
27175 Energy Way
,
Novi
,
Michigan
48377
(Address of principal executive offices) (zip code)
(
248
)
946-3000
(Registrant's telephone number, including area code)
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))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
None
None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o
Item 5.02(e)
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Approval of 2022 Annual Incentive Compensation Plan
On November 11, 2021, the Governance and Human Resources Committee of ITC Holdings Corp. (the "Company") approved the 2022 annual incentive plan for the Company's executives, including the "Named Executive Officers" of the Company as of November 11, 2021. Awards made in accordance with this plan are treated as incentive awards under the Company's Amended 2017 Omnibus Plan. Goals and payout weighting under the 2022 annual incentive plan are as follows:
Category
Goal
Weight
Safety & Compliance
15% Maximum Potential Payout
2 or fewer lost work day cases for injuries to Company employees and specified contractor employees
5%
7 or fewer recordable incidents for injuries to Company employees and specified contractor employees
5%
Infrastructure Protection: Implementation of 2022 cyber security objectives
5%
Culture
5% Maximum Potential Payout
Implementation of 2022 inclusion & diversity objectives
5%
System Performance
60% Maximum Potential Payout
ITCTransmission: 12 or fewer forced, sustained line outages, excluding certain catastrophic weather events
5%
METC: 23 or fewer forced, sustained line outages, excluding certain catastrophic weather events
5%
ITC Midwest: 57 or fewer forced, sustained line outages, excluding certain catastrophic weather events, no more than 46 at the 69 kV level
5%
ITCTransmission: Complete the 15 high priority 2022 field operation and maintenance initiatives
5%
METC: Complete the 13 high priority 2022 field operation and maintenance initiatives
5%
ITC Midwest: Complete the 10 high priority 2022 field operation and maintenance initiatives
5%
ITCTransmission, METC, ITC Midwest, and ITC Great Plains: Complete $802 million of the 2022 Capital Expenditure budget for approved projects to achieve 30%; complete $760 million to achieve 15%
15%-30%
Financial
20% Maximum Potential Payout
ITCTransmission, METC, ITC Midwest, ITC Great Plains, and ITC Interconnection: Non-field operation and maintenance expense and general and administrative expense at or under budget of $161 million
10%
ITCTransmission, METC, ITC Midwest, ITC Great Plains, and ITC Interconnection: Combined adjusted net income at or above $544 million to achieve 10%; at or above $517 million to achieve 5%
5%-10%
Total
100%
Field operation and maintenance ("O&M") plan goals may be reduced by 5% if not at or under Field O&M overall maintenance budget of $92.4 million.
Our 2022 annual incentive plan also includes a bonus multiplier for executive officers under which annual incentive bonus awards may be increased by as much as 100% to the extent specified targets related to our Capital Investment Plan (30% weight), Strategic Plan Objectives (30% weight), Consolidated Net Income (30% weight) and Inclusion and Diversity Plan (10% weight) are achieved.
Amendment of Executive Omnibus Plan
On November 11, 2021,
the Company's Board of Directors (the "Board") amended the Company's Executive Omnibus Plan, Effective as of February 4, 2020 (the "Executive Plan").
Among other changes, the Executive Plan was amended to provide that upon a Change of Control (as defined in the Executive Plan) the Committee, may provide Replacement Awards (as defined in the Executive Plan), on terms determined by the Governance and Human Resources Committee (the "Committee"), to Participants (as defined in the Executive Plan) that are substantially equivalent to the terms of awards held by such Participants immediately prior to the Change in Control subject to certain conditions as described in the Executive Plan.
These conditions, include, but are not limited to, the condition that if there is an Involuntary Employment Action (as defined in the Executive Plan) in respect of a Participant within 24 months following the Change of Control, any conditions on the Participant's rights under, or any restrictions on vesting applicable to, such Replacement Awards held by such Participant shall be waived or shall lapse, as the case may be, and any performance-based restrictions shall be deemed to have been achieved at the greater of: (A) target level performance,
and (B) the actual performance level achieved had the Payment Criteria Period (as defined in the Executive Plan) ended on the Involuntary Redemption Date (as defined in the Executive Plan), to the extent reasonably determinable by the Committee.
The above description of the amendment to the Executive Plan does not constitute a complete summary of the amendment to the Executive Plan. Such description is qualified in its entirety by reference to the Executive Plan, as Amended a copy of which will be filed as an exhibit to the Company's next Annual Report on Form 10-K.
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.
November 16, 2021
ITC HOLDINGS CORP.
By:
/s/ Christine Mason Soneral
Christine Mason Soneral
Its:
Senior Vice President, General Counsel, Chief Compliance Officer and Secretary