144

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 144

 

NOTICE OF PROPOSED SALE OF SECURITIES

PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933

 

    SEC USE ONLY
  

DOCUMENT SEQUENCE NO.

 

  

CUSIP NUMBER

 

   WORK LOCATION
    
ATTENTION: Transmit for filing 3 copies of this form concurrently with either placing an order with a broker to execute sale or executing a sale directly with a market maker.

 

1(a) NAME OF ISSUER (Please type or print)

Sparton Corporation

  

(b) IRS IDENT. NO.

38-1054690

  

(c) S.E.C. FILE NO.

1-1000

    
1(d) ADDRESS OF ISSUER    STREET   

CITY                

   STATE      ZIP CODE       (e) TELEPHONE NO.
425 N. Martingale Road, Suite 2050    Schaumburg   IL      60173      AREA CODE     NUMBER
                         800    772-7866

2 (a) NAME OF PERSON FOR WHOSE ACCOUNT THE SECURITIES ARE TO BE SOLD

Steven Korwin

         

(b) RELATIONSHIP TO         ISSUER

    Officer

  

(c) ADDRESS    STREET

 

425 N. Martingale Road, Suite 2050

     

CITY

 

Schaumburg

     

STATE

 

IL

     

ZIP CODE

 

60173

INSTRUCTION: The person filing this notice should contact the issuer to obtain the I.R.S. Identification Number and the S.E.C. File Number.

 

3(a)                

    (b)         SEC USE ONLY    (c)    (d)   (e)                                 (f)                               (g)

Title of the

Class of

Securities

To Be Sold

   

Name and Address of Each Broker

Through Whom the Securities are

to be Offered or Each Market

Maker who is Acquiring

the Securities

   

Broker-Dealer

File Number

   

Number of Shares

or Other Units

To Be Sold

(See instr. 3(c))

   

Aggregate

Market Value

(See instr. 3(d))

  

Number of Shares

or Other Units

Outstanding

(See instr. 3(e))

   

Approximate

Date of Sale

(See instr. 3(f))

(MO. DAY YR.)

   

Name of Each

Securities

Exchange

(See instr. 3(g))

Common Stock   

Cantor Fitzgerald & Co.

110 E59th Street

New York, NY 10022

    0134    12,500    $124,875(1)   10,205,780(2)    See Remarks Section under Table II    NYSE
               
                                   
               
                                   

 

INSTRUCTIONS:

1.

   (a)   Name of issuer
  (b)   Issuer’s I.R.S. Identification Number
  (c)   Issuer’s S.E.C. file number, if any
 

(d)

(e)

  

Issuer’s address, including zip code

Issuer’s telephone number, including area code

2.

   (a)   Name of person for whose account the securities are to be sold
  (b)   Such person’s relationship to the issuer (e.g., officer, director, 10% stockholder, or member of immediate family of any of the foregoing)
  (c)   Such person’s address, including zip code
3.   (a)   Title of the class of securities to be sold
  (b)   Name and address of each broker through whom the securities are intended to be sold
  (c)   Number of shares or other units to be sold (if debt securities, give the aggregate face amount)
  (d)   Aggregate market value of the securities to be sold as of a specified date within 10 days prior to filing of this notice
  (e)  

Number of shares or other units of the class outstanding, or if debt securities the face amount thereof outstanding, as shown by the most recent report or statement published by the issuer

Approximate date on which the securities are to be sold

  (f)  
  (g)   Name of each securities exchange, if any, on which the securities are intended to be sold
 

 

Potential persons who are to respond to the collection of information contained in this form are not

required to respond unless the form displays a currently valid OMB control number. SEC 1147 (02-08)

TABLE I—SECURITIES TO BE SOLD

Furnish the following information with respect to the acquisition of the securities to be sold

and with respect to the payment of all or any part of the purchase price or other consideration therefor:

 

Title of

the Class

   

Date You  

Acquired  

    Nature of Acquisition Transaction   

Name of Person from Whom Acquired

(If gift, also give date donor acquired)

    Amount of
Securities Acquired		     

Date of  

Payment  

    Nature of
Payment
     Common  
Stock  		    04/04/12      Exercise of an option to purchase common stock                         Sparton Corporation                340               (3)    Cash
     Common  
Stock  		    04/05/12      Exercise of an option to purchase common stock                         Sparton Corporation                1,506               (3)    Cash
INSTRUCTIONS:    If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

 

 

TABLE II—SECURITIES SOLD DURING THE PAST 3 MONTHS

 

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

 

Name and Address of Seller   Title of Securities Sold   Date of Sale       Amount of    
Securities Sold (4)     		   Gross Proceeds    

Gregory Slome

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/05/12   2,770   $27,700.00

Michael Osborne

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/05/12   1,506   $15,060.00

Gordon Madlock

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/05/12   1,506   $15,060.00

Cary Wood

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/05/12   3,012   $30,120.00

Steven Korwin

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/05/12   1,506   $15,060.00

Michael Osborne

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/04/12   340   $3,400.00

Gordon Madlock

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/04/12   340   $3,400.00

Cary Wood

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/04/12   680   $6,800.00

Steven Korwin

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   04/04/12   340   $3,400.00

Robert Grimm

425 N. Martingale Road, Suite 2050

Schaumburg, IL 60173

   Common Stock   02/10/12   3,102   $27,638.82

EXPLANATION OF RESPONSES:

 

1. Based on the closing price of Sparton Corporation’s common stock on April 4, 2012 ($9.99).

 

2. As reported on Sparton Corporation’s Form 10-Q for the quarter ended December 31, 2011 filed on February 7, 2012.

 

3. The payment will be made to issuer on or before April 9, 2012 by Cantor Fitzgerald & Co. (“Cantor”) on behalf of Steven Korwin.

 

4. For all sales other than the sale by Mr. Grimm, the sales were made pursuant to Rule 10b5-1 plans regarding shares issuable under options set to expire on November 20, 2012.

REMARKS:

The sales of stock contemplated by the filing are to be made pursuant to a Rule 10b5-1 trading plan between Cantor Fitzgerald & Co. (“Cantor”) and Steven Korwin dated March 30, 2012 (the “Plan”). The shares of common stock subject to the Plan are being acquired through the exercise of an option granted to Mr. Korwin that is set to expire on November 20, 2012. Under the Plan, Mr. Korwin intends to sell the shares on a periodic basis until termination of the Plan, which shall occur upon the earlier of the following: (i) the date that all of the shares authorized for sale under the Plan are sold; (ii) November 15, 2012; (iii) upon notice of termination sent by Cantor to Mr. Korwin; and (iv) 2 business days after Cantor’s receipt of notice of death of Mr. Korwin or of the commencement of any proceedings in respect of or triggered by his bankruptcy or insolvency.

 

INSTRUCTIONS:

See the definition of “person” in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

  

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any materiel adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If each person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

 

April 5, 2012

DATE OF NOTICE

  

 

/s/ Carrie Leahy

(SIGNATURE)

Carrie Leahy, Attorney-in-Fact by Power of Attorney

 

March 30, 2012

DATE OF PLAN ADOPTION OR GIVING OF INSTRUCTION,

IF RELYING ON RULE 10B5-1

   The notice shall be signed by the person for whose account the securities are to be sold. At least one copy of the notice shall be manually signed. Any copies not manually signed shall bear typed or printed signatures.

 

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)