SEC Form 4 · accession 0001520382-16-000002
SPARTON CORP · SPA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lawrence R. Brand
Officer — Sr. VP - Human Resources
Period of report
Jul 26, 2016
Accepted (ET)
Aug 4, 2016 · 5:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000092679
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 26, 2016 | D | 6,071 | $0.00 | D | 11,625 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Jul 26, 2016 | D | 6,029 | A | — | — | Common Stock | 6,029 | 0 | D |
| Stock OptionF3 | $0.00 | Jul 26, 2016 | D | 1,673 | A | — | Sep 11, 2024 | Common Stock | 1,673 | 557 | D |
| Stock OptionF4 | $0.00 | Jul 26, 2016 | D | 5,818 | A | — | Sep 10, 2025 | Common Stock | 5,818 | 0 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents a contingent right to receive one share of Sparton Corporation common stock or cash at the election of the Compensation Committee. Reporting person will forfeit the Restricted Stock Unit at the end of the performance period if some or all of the units do not vest.
- F2The Restricted Stock Units will vest over a period of approximately four years, provided certain performance criteria are met.
- F3The stock option vests at a rate of 25% per year commencing on September 11, 2015 and 25% on each subsequent anniversary date until 100% vested. The option shares are exerciseable as soon as they have vested.
- F4The stock option vests at a rate of 25% per year commencing on September 10, 2016, and 25% on each subsequent anniversary date until 100% vested. The option shares are exerciseable as soon as they have vested.
Remarks
Reporting person's employment terminated 07/26/2016.