As filed with the Securities and Exchange Commission on August 31, 2015
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SPX CORPORATION
(Exact name of registrant as specified in its charter)
Delaware |
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38-1016240 |
(State or other jurisdiction |
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(I.R.S. Employer |
of incorporation or organization) |
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Identification No.) |
13320 Ballantyne Corporate Place
Charlotte, North Carolina 28277
Telephone: (704) 752-4400
(Address, including zip code, telephone number, including area code, of registrants principal executive offices)
SPX CORPORATION 2002 STOCK COMPENSATION PLAN
(FORMERLY, THE 1992 STOCK COMPENSATION PLAN)
(Full title of the plan)
Stephen A. Tsoris
Vice President, Secretary and General Counsel
SPX Corporation
13320 Ballantyne Corporate Place
Charlotte, North Carolina 28277
Telephone: (704) 752-4400
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer |
x |
Accelerated filer |
o |
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Non-accelerated filer |
o (Do not check if a smaller reporting company) |
Smaller reporting company |
o |
CALCULATION OF REGISTRATION FEE
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Title of Securities |
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Amount to be |
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Proposed Maximum |
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Proposed Maximum |
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Amount of |
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Common Stock, par value $0.01 per share |
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1,150,000 |
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$ |
55.14 |
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$ |
63,411,000.00 |
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$ |
7,368.36 |
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(1) |
Together with an indeterminable number of additional securities in order to adjust the number of securities reserved for issuance pursuant to the plan as the result of a stock split, stock dividend or similar transaction affecting the Common Stock, pursuant to 17 C.F.R. § 230.416. |
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(2) |
Estimated in accordance with Rule 457(h) solely for the purpose of calculating the registration fee, the average of the high and low prices of the Registrants common stock as reported on the New York Stock Exchange on August 26, 2015. |
SPX CORPORATION
REGISTRATION STATEMENT ON FORM S-8
INCORPORATION BY REFERENCE OF EARLIER REGISTRATION STATEMENTS ON FORM S-8
SPX Corporation (Registrant or the Company) has earlier filed registration statements on Form S-8 relating to the SPX Corporation 2002 Stock Compensation Plan, formerly known as the 1992 Stock Compensation Plan (File Nos. 33-24043, 333-29855, 333-82645, 333-69250 and 333-109112) (together, the Earlier Registration Statements). This Registration Statement registers additional shares for offering pursuant to such plan. Subject to Item 3 of Part II of this Registration Statement and except as modified or superseded herein, the contents of the Earlier Registration Statements are incorporated herein by reference.
PART II
Item 3. Incorporation of Documents by Reference.
There are hereby incorporated by reference into this Registration Statement the following documents and information heretofore filed with the Securities and Exchange Commission (the Commission) by the Registrant:
1. The Registrants Annual Report on Form 10-K for the fiscal year ended December 31, 2014;
2. The Registrants Quarterly Report on Form 10-Q for the quarters ended March 28, 2015 and June 27, 2015;
3. The Registrants Current Reports on Form 8-K filed on March 2, 2015, March 23, 2015, May 13, 2015 and August 17, 2015; and
4. The description of Registrants capital stock contained in the Companys Registration Statements pursuant to Section 12 of the Exchange Act and any amendments or reports filed for the purpose of updating any such descriptions.
In addition, each document filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered hereunder have been sold or which deregisters all securities then remaining unsold under this Registration Statement, shall be deemed to be incorporated by reference herein and to be part hereof from the date of filing of such documents. Any statement contained herein or in a document incorporated herein by reference shall be deemed to be modified or superseded for purposes hereof to the extent that a statement contained herein or in any other subsequently filed document incorporated herein by reference modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part hereof.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
None.
Item 6. Indemnification of Directors and Officers.
Section 145(a) of the General Corporation Law of the State of Delaware (the DGCL) provides that a Delaware corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the fact that such person is or was a director, officer, employee or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation or enterprise, against expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no cause to believe his conduct was unlawful.
Section 145(b) of the DGCL provides that a Delaware corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that such person acted in any of the capacities set forth above, against expenses actually and reasonably incurred by such person in connection with the defense or settlement of such action or suit if he or she acted under similar standards to those set forth above, except that no indemnification may be made in respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine that despite the adjudication of liability, but in view of all the circumstances of the case, such person is fairly and reasonably entitled to be indemnified for such expenses that the court shall deem proper.
Section 145 of the DGCL further provides that to the extent a director or officer of a corporation has been successful in the defense of any action, suit or proceeding referred to in subsection (a) and (b) or in the defense of any claim, issue or matter therein, he or she shall be indemnified against expenses actually and reasonably incurred by him or her in connection therewith; that indemnification provided for by Section 145 shall not be deemed exclusive of any other rights to which the indemnified party may be entitled; and that the corporation may purchase and maintain insurance on behalf of a director or officer of the corporation against any liability asserted against such officer or director and incurred by him or her in any such capacity or arising out of his or her status as such, whether or not the corporation would have the power to indemnify him or her against such liabilities under Section 145.
As permitted by Section 102(b)(7) of the DGCL, the Registrants Certificate of Incorporation provides that a director shall not be personally liable to the Registrant or its stockholders for monetary damages for breach of fiduciary duty as a director. However, such provision does not eliminate or limit the liability of a director: (i) for any breach of the directors duty of loyalty to the Registrant or its stockholders, (ii) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of the law, (iii) under Section 174 of the DGCL, or (iv) for engaging in any transaction from which the director derived an improper personal benefit. The Registrants Certificate of Incorporation requires that directors and officers be indemnified to the maximum extent permitted by Delaware law.
The Registrant has a policy of directors liability insurance, which insures the directors and officers against the cost of defense, settlement or payment of a judgment under certain circumstances.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
See Index to Exhibits.
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) To file during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement;
(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;
Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b) The Registrant hereby undertakes that, for purposes of determining liability under the Securities Act of 1933, each filing of the Registrants annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in this Registration Statement shall be deemed to be a new Registration Statement relating to the securities offering herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described in Item 6 of this Registration Statement, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Charlotte, State of North Carolina, on this 31st day of August, 2015.
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SPX CORPORATION | |
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By: |
/s/ Stephen A. Tsoris |
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Stephen A. Tsoris |
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Vice President, Secretary and General Counsel |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Christopher J. Kearney, Jeremy W. Smeltser and Stephen A. Tsoris, and each of them, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution for him or her and in his or her name, place and stead, in any and all capacities, to sign, execute and file this Registration Statement and any amendments (including, without limitation, post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto and all documents required to be filed with respect therewith, with the Securities and Exchange Commission or any regulatory authority, granting unto such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith and about the premises in order to effectuate the same as fully to all intents and purposes as he or she might or could do if personally present, hereby ratifying and confirming all that such attorneys-in-fact and agents or his or her or their substitute or substitutes, may lawfully do or cause to be done.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities indicated on this 31st day of August, 2015.
/s/ Christopher J. Kearney |
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/s/ Jeremy W. Smeltser |
Christopher J. Kearney |
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Jeremy W. Smeltser |
Chairman, President and Chief Executive Officer |
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Vice President and Chief Financial Officer |
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/s/ Michael A. Reilly |
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/s/ David V. Singer |
Vice President, Corporate Controller and Chief Accounting |
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David V. Singer |
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/s/ Anne K. Altman |
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/s/ Patrick D. Campbell |
Anne K. Altman |
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Patrick D. Campbell |
Director |
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Director |
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/s/ Emerson U. Fullwood |
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/s/ Robert F. Hull, Jr. |
Emerson U. Fullwood |
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Robert F. Hull, Jr. |
Director |
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Director |
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/s/ Terry S. Lisenby |
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/s/ Michael J. Mancuso |
Terry S. Lisenby |
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Michael J. Mancuso |
Director |
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Director |
Index to Exhibits
Exhibit Number |
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Description of Document |
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4.1 |
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2002 Stock Compensation Plan (As Amended and Restated), incorporated herein by reference to Appendix A of our definitive proxy statement for our 2015 Annual Meeting of Stockholders, filed March 26, 2015 (File no. 1-6948). |
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5.1* |
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Opinion of Drinker Biddle & Reath LLP. |
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23.1* |
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Consent of Deloitte & Touche LLP. |
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23.2* |
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Consent of KPMG LLP. |
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24.1* |
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Powers of Attorney (included on signature page). |
*Filed herewith
EXHIBIT 5.1
[DRINKER BIDDLE & REATH LLP LETTERHEAD]
August 31, 2015
SPX Corporation
13320 Ballantyne Corporate Place
Charlotte, NC 28277
Re: Registration Statement on Form S-8
Ladies and Gentlemen:
We have acted as counsel to SPX Corporation, a Delaware corporation (the Corporation), in connection with the filing of a Registration Statement on Form S-8 by the Corporation under the Securities Act of 1933, as amended (the Registration Statement), which Registration Statement registers 1,150,000 shares of Common Stock, par value $.01 per share (the Common Stock), reserved for issuance under the Corporations 2002 Stock Compensation Plan (the Plan). In that capacity, we have reviewed the Certificate of Incorporation and Bylaws of the Corporation, both as amended to date, the Registration Statement, the Plan, originals or copies of corporate records reflecting the corporate action taken by the Corporation in connection with the approval of the Plan and the issuance of the Common Stock under the Plan and such other instruments as we have deemed necessary for the issuance of this opinion.
Based upon the foregoing, we are of the opinion that the shares of Common Stock to be offered under the Plan have been duly authorized by all requisite action on the part of the Corporation and, when issued in accordance with the terms and conditions of the Plan, will be legally issued, fully paid and non-assessable.
We consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Securities Act of 1933, as amended.
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Very truly yours, |
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/s/ DRINKER BIDDLE & REATH LLP |
EXHIBIT 23.1
CONSENT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports relating to the consolidated financial statements of SPX Corporation and subsidiaries (the Company) and the effectiveness of the Companys internal control over financial reporting dated February 20, 2015, appearing in the Annual Report on Form 10-K of the Company for the year ended December 31, 2014.
/s/ Deloitte & Touche LLP
August 31, 2015
Charlotte, North Carolina
EXHIBIT 23.2
CONSENT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
The Board of Members
EGS Electrical Group, LLC:
We consent to the incorporation by reference in this Registration Statement on Form S-8 of SPX Corporation of our report dated January 22, 2014, with respect to the consolidated balance sheet of EGS Electrical Group, LLC and subsidiaries as of September 30, 2013, and the related consolidated statements of comprehensive income, members equity and comprehensive income, and cash flows for each of the years in the two-year period ended September 30, 2013, which report appears in the December 31, 2014 Annual Report on Form 10-K of SPX Corporation.
/s/ KPMG LLP
Chicago, Illinois
August 31, 2015