SEC Form 4 · accession 0001653528-16-000027
SPARTON CORP · SPA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph J Hartnett
Officer — Interim CEO & President · Director
Period of report
Aug 8, 2016
Accepted (ET)
Aug 9, 2016 · 4:30 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 | — | — | — | 23,580 | 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 | — | Aug 8, 2016 | A | 25,000 | A | — | — | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents a contingent right to receive one share of Sparton Corporation common stock.
- F2The Restricted Stock Units will vest on the earliest of (i) a change of control, (ii) Sparton's appointment of a permanent chief executive officer, (iii) Sparton's termination of the reporting person without cause, and (iv) March 1, 2017. The reporting person shall forfeit the grant upon (a) separation from service for cause, or (b) resignation by the reporting person as Interim President and Chief Executive Officer prior to vesting.