| FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
| 2. Date of Event Requiring Statement (Month/Day/Year) 10/22/2014 | 3. Issuer Name and Ticker or Trading Symbol SPARTON CORP [ SPA ] | |||||||||||||
| 4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
| 5. If Amendment, Date of Original Filed (Month/Day/Year) | ||||||||||||||
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 1,853(1) | D | |
| Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Restriced Stock Units | (2) | (2) | Common Stock | 1,692 | (3) | D | |
| Stock Option | (4) | 09/11/2015 | Common Stock | 2,230 | 26.86 | D | |
| Explanation of Responses: |
| 1. The common stock is restricted and will vest over a period of approximately four years after the date of grant, being 3/24/2014, provided certain performance criteria are met. As of the date of this filing, 25% of the restricted common stock has vested. |
| 2. The Restricted Stock Units vest on the following schedule, provided certain performance criteria are met: 25% on September 11, 2015, 25% on September 11, 2016, 25% on September 11, 2017 and 25% on September 11, 2018. |
| 3. Each 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. The 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. |
| 4. The stock option vests at a rate of 25% per year commencing on September 11, 2015, and 25% on each subsequent anniversary date until 100% has vested. As of the date of this filing, 25% of the stock options have vested. The option shares are exercisable as soon as they have vested. |
| Carrie Leahy, Attorney-in-Fact by Power of Attorney | 09/09/2015 | |
| ** 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 5 (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. | ||
