SPARTON CORP 4
4 · SPARTON CORP · Filed Feb 9, 2016
Insider Transaction Report
Form 4
SPARTON CORPSPA
Osborne Michael W
Sr. V.P. Bsn Dev/Supply Chain
Transactions
- Disposition to Issuer
Restricted Stock Units
2016-02-05−10,857→ 0 total→ Common Stock (10,857 underlying) - Disposition to Issuer
Common Stock
2016-02-05−9,527→ 27,122 total - Disposition to Issuer
Stock Option
2016-02-05−13,199→ 1,275 totalExercise: $0.00Exp: 2025-09-10→ Common Stock (13,199 underlying)
Footnotes (3)
- [F1]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. 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.
- [F2]The Restricted Stock Units will vest over a period of approximately four years, provided certain performance criteria are met.
- [F3]The 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 exercisable as soon as they have vested.