SEC Form 4
FORM 4	UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL	

OMB Number:	
3235-0287	

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hours per response:	
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	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	 	 	
1. Name and Address of Reporting Person *
RILEY BRYANT R	

(Last)	
(First)	
(Middle)	

11100 SANTA MONICA BLVD., SUITE 810	

 	

(Street)
LOS ANGELES	
CA	
US 90025	

(City)	
(State)	
(Zip)	

	2. Issuer Name and Ticker or Trading Symbol
ITERIS, INC. [ ITI ]	5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
 	
Director	
X	
10% Owner	

 	
Officer (give title below)	
 	
Other (specify below)	

 	

 	 	
 	3. Date of Earliest Transaction (Month/Day/Year)
10/24/2007	 	 	 	
 	4. If Amendment, Date of Original Filed (Month/Day/Year)
	6. Individual or Joint/Group Filing (Check Applicable Line)
 	
Form filed by One Reporting Person	

X	
Form filed by More than One Reporting Person	

	 	 	
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned	 	
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)	5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)	 	
 	 	 	Code	V	Amount	(A) or (D)	Price	 	 	 	 	 	 	
Common Stock	10/24/2007	 	S	 	650,000	D	$3.3	1,112,568	I	Footnote 1 (1)	 	 	 	
Common Stock	 	 	 	 	 	 	 	200,212	I	Footnote 2 (2)	 	 	 	
Common Stock	 	 	 	 	 	 	 	41,000	I	Footnote 3 (3)	 	 	 	
Common Stock	10/24/2007	 	S	 	150,000	D	$3.3	1,822,160	I	Footnote 4 (4)	 	 	 	
Common Stock	 	 	 	 	 	 	 	33,333	D(7)	 	 	 	 	
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)	 	
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)	6. Date Exercisable and Expiration Date (Month/Day/Year)	7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)	8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)	 	
 	 	 	 	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	 	 	 	 	 	 	 	 	
Warrant to Purchase Common Stock	$3.86	 	 	 	 	 	 	05/19/2004	05/18/2009	Common Stock	80,875	 	80,875	I	Footnote 1 (1)	 	 	 	 	
Warrant to Purchase Common Stock	$4.03	 	 	 	 	 	 	05/19/2004	05/18/2009	Common Stock	77,505	 	77,505	I	Footnote 1 (1)	 	 	 	 	
Warrant to Purchase Common Stock	$3.61	 	 	 	 	 	 	05/19/2004	05/18/2009	Common Stock	15,506	 	15,506	I	Footnote 2 (2)	 	 	 	 	
Warrant to Purchase Common Stock	$3.86	 	 	 	 	 	 	05/19/2004	05/18/2009	Common Stock	21,998	 	21,998	D(7)	 	 	 	 	 	
Warrant to Purchase Common Stock	$4.03	 	 	 	 	 	 	05/19/2004	05/18/2009	Common Stock	21,081	 	21,081	D(7)	 	 	 	 	 	
6% Convertible Debenture	$3.61	 	 	 	 	 	 	05/19/2004	05/19/2009	Common Stock	88,644	 	88,644(6)	I	Footnote 5 (5)	 	 	 	 	
Warrant to Purchase Common Stock	$3.86	 	 	 	 	 	 	05/19/2004	05/18/2009	Common Stock	10,352	 	10,352	I	Footnote 5 (5)	 	 	 	 	
Warrant to Purchase Common Stock	$4.03	 	 	 	 	 	 	05/19/2004	05/18/2009	Common Stock	9,920	 	9,920	I	Footnote 5 (5)	 	 	 	 	
1. Name and Address of Reporting Person*
RILEY BRYANT R	

(Last)	
(First)	
(Middle)	

11100 SANTA MONICA BLVD., SUITE 810	

 	

(Street)
LOS ANGELES	
CA	
US 90025	

(City)	
(State)	
(Zip)	

	
1. Name and Address of Reporting Person*
Riley Investment Partners Master Fund, L.P.	

(Last)	
(First)	
(Middle)	

11100 SANTA MONICA BLVD., SUITE 810	

 	

(Street)
LOS ANGELES	
CA	
US 90025	

(City)	
(State)	
(Zip)	

	
1. Name and Address of Reporting Person*
Riley Investment Management LLC	

(Last)	
(First)	
(Middle)	

11100 SANTA MONICA BLVD., SUITE 810	

 	

(Street)
LOS ANGELES	
CA	
US 90025	

(City)	
(State)	
(Zip)	

	
Explanation of Responses:	
1. Sole equity owner of Riley Investment Management LLC, General Partner of Riley Investment Partners Master Fund, L.P.	
2. Sole indirect equity owner of B. Riley and Co., LLC.	
3. Trustee of the B. Riley and Co. Retirement Trust.	
4. Sole equity owner of Riley Investment Management LLC, investment adviser to managed accounts of advisory clients, some of which are indirectly affiliated with Mr. Riley or Riley Investment Partners Master Fund, L.P.	
5. Custodian for Mr. Riley's children.	
6. As converted to common stock basis.	
7. Joint account holder with spouse.	
Remarks:	
The transactions reported resulted from a transfer of securities from an investment advisory client of Riley Investment Management LLC, including in connection with a liquidation of such client's account.	
 	/s/ Bryant Riley	10/26/2007	
 	** Signature of Reporting Person	Date	
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.	
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).	
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.	
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.