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SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 		 
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
OLEARY PATRICK J
(Last) (First) (Middle)
C/O SPX CORPORATION
13515 BALLANTYNE CORPORATE PLACE
(Street)
CHARLOTTE NC 28277
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SPX CORP [ SPW ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP Finance, Treasurer & CFO
3. Date of Earliest Transaction (Month/Day/Year)
01/03/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/03/2005 A 35,000 A (8) 118,641 D
Common Stock 3,078 I 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee stock option to purchase common stock(1) (1) (1) 04/22/2007 Common Stock 200,000 200,000 D
Employee stock option to purchase common stock (2) 06/23/2004 06/22/2009 Common Stock 1,000,000 1,000,000 D
Employee stock option to purchase common stock(3) $38.9063 (4) 01/02/2010 Common Stock 70,000 70,000 D
Employee stock option to purchase common stock(3) $39.7188 02/14/2000 01/01/2008 Common Stock 18,600 18,600 D
Employee stock option to purchase common stock $86.4688 08/14/2000 10/13/2006 Common Stock 18,746 18,746 D
Employee stock option to purchase common stock $86.4688 08/14/2000 10/13/2006 Common Stock 11,792 11,792 D
Employee stock option to purchase common stock $86.4688 08/14/2000 10/13/2006 Common Stock 4,734 4,734 D
Employee stock option to purchase common stock(3) $48.44 (5) 01/01/2011 Common Stock 70,000 70,000 D
Employee stock option to purchase common stock(3) $47.565 03/14/2001 01/01/2008 Common Stock 29,422 29,422 D
Employee stock option to purchase common stock(3) $46.475 03/23/2001 01/03/2009 Common Stock 10,034 10,034 D
Employee stock option to purchase common stock(3) $50.39 09/17/2001 01/03/2009 Common Stock 18,512 18,512 D
Employee stock option to purchase common stock $50.01 10/22/2001 10/13/2006 Common Stock 14,740 14,740 D
Employee stock option to purchase common stock(3) $50.01 10/22/2001 01/01/2008 Common Stock 11,964 11,964 D
Employee stock option to purchase common stock(3) $69.43 (6) 01/01/2012 Common Stock 70,000 70,000 D
Employee stock option to purchase common stock(3) $38.57 (7) 01/02/2013 Common Stock 70,000 70,000 D
Explanation of Responses:
1. On April 23, 1997, the Board of Directors of the Issuer granted Reporting Person out-of-the-money options to purchase common stock which vest and become exercisable 5 years after the grant date. The prices of the options that remain unexercised are 70,000 shares at $37.50 per share and 130,000 shares at $45 per share.
2. Grant of options to purchase Common Stock: 250,000 shares at $60 per share, 250,000 shares at $72.50 per share, 250,000 shares at $85 per share, and 250,000 shares at $97.50 per share.
3. Granted under the SPX Corporation 2002 Stock Compensation Plan or its predecessor plan, the 1992 Stock Compensation Plan.
4. Option vested as to 35,000 shares on each of January 3, 2002 and 2003.
5. Option vested as to 23,334 shares on each of January 2, 2002 and 2004, and 23,332 shares on January 2, 2003.
6. Option vested as to 23,334 shares on each of January 2, 2003 and 2005, and 23,332 shares on January 2, 2004.
7. Option vested as to 23,334 shares on January 3, 2004 and 23,333 shares on January 3, 2005, and will vest as to 23,333 shares on January 3, 2006.
8. Grant of restricted stock pursuant to SPX Corporation 2002 Stock Compensation Plan.
C.J. Kearney, Attorney In Fact for Patrick J. O'Leary 01/05/2005
** 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 4 (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.