SEC Form 4 · accession 0001643254-15-000006
SPARTON CORP · SPA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael A. Gaul
Officer — Grp VP - Med Mfg & Design
Period of report
Sep 10, 2015
Accepted (ET)
Sep 14, 2015 · 8:33 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 | holding | — | — | — | 6,365 | 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 | — | Sep 10, 2015 | A | 3,638 | A | — | — | Common Stock | 3,638 | 5,789 | D |
| Stock OptionF3 | $23.02 | Sep 10, 2015 | A | 4,881 | A | — | Sep 10, 2025 | Common Stock | 4,881 | 7,715 | 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 will vest 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 exercisable as soon as they have vested.