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): October 21, 2009

Commission file number 333-113658

8537 Six Forks Road, Suite 400, Raleigh, North Carolina 27615

(Address of principal executive offices) (Zip Code)

(919) 845-4000

(Registrants’ 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 (see General Instruction A.2. below):

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 21, 2009, the Board of Directors of Sensus (Bermuda 1) Ltd. (“Bermuda 1”), the parent of Sensus (Bermuda 2) Ltd. (“Bermuda 2”) and its wholly owned subsidiary, Sensus USA Inc. (“Sensus USA”), approved an amendment to the Sensus Metering Systems 2007 Stock Option Plan (as so amended, the “Option Plan”) to increase the maximum number shares of Class B common stock of Bermuda 1 available for grants under the Option Plan from 1,000,000 shares to 2,000,000 shares. Awards under the Option Plan may be granted to employees, officers, directors and consultants of Bermuda 2 and Sensus USA. A copy of the Option Plan is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

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.