SPARTON CORP 4
4 · SPARTON CORP · Filed Sep 15, 2014
Insider Transaction Report
Form 4
SPARTON CORPSPA
Osborne Michael W
Sr. V.P. Bsn Dev/Supply Chain
Transactions
- Tax Payment
Common Stock
2014-09-11$26.86/sh−4,790$128,659→ 42,199 total - Award
Restricted Stock Units
2014-09-11+3,872→ 3,872 total→ Common Stock (3,872 underlying) - Award
Stock Option
2014-09-11+5,102→ 5,102 totalExercise: $26.86Exp: 2024-09-11→ Common Stock (5,102 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 options will vest at a rate of 25% per year commencing on September 11, 2015, and 25% on each subsequent date until 100% vested. The option shares are exercisable as soon as they have vested.