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
 
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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*
Lowe Eugene Joseph III

(Last) (First) (Middle)
C/O SPX TECHNOLOGIES, INC.
6325 ARDREY KELL ROAD, SUITE 400

(Street)
CHARLOTTE NC 28277

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SPX Technologies, Inc. [ SPXC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
PRESIDENT AND CEO
3. Date of Earliest Transaction (Month/Day/Year)
02/29/2024
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
Rule 10b5-1(c) Transaction Indication

  
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
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 02/29/2024 M 100,000 A $12.36 587,660(1) D
Common Stock 02/29/2024 M 28,000 A $21.16 615,660(1) D
Common Stock 02/29/2024 S(2) 26,417 D $115.32(3) 589,243(1) D
Common Stock 02/29/2024 S(2) 81,557 D $116.23(4) 507,686(1) D
Common Stock 02/29/2024 S(2) 20,026 D $116.9(5) 487,660(1) D
Common Stock 03/01/2024 M 119,548 A $12.36 607,208(1) D
Common Stock 03/01/2024 M 17,776 A $21.16 624,984(1) D
Common Stock 03/01/2024 S(2) 20,498 D $115.21(6) 604,486(1) D
Common Stock 03/01/2024 S(2) 6,294 D $116.3(7) 598,192(1) D
Common Stock 03/01/2024 S(2) 256 D $117.01(8) 597,936(1) D
Common Stock 03/01/2024 F(9) 9,016 D $117.19 588,920(1) D
Common Stock 03/04/2024 M 113,125 A $12.36 702,045(1) D
Common Stock 03/04/2024 S(2) 5,447 D $114.57(10) 696,598(1) D
Common Stock 03/04/2024 S(2) 25,216 D $115.41(11) 671,382(1) D
Common Stock 03/04/2024 S(2) 4,337 D $115.88(12) 667,045(1) D
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 $12.36 02/29/2024 M 100,000 10/13/2018(13) 10/13/2025 Common Stock 100,000 $0 232,673 D
Employee stock option to purchase common stock $21.16 02/29/2024 M 28,000 01/02/2018(14) 01/02/2025 Common Stock 28,000 $0 17,776 D
Employee stock option to purchase common stock $12.36 03/01/2024 M 119,548 10/13/2018(13) 10/13/2025 Common Stock 119,548 $0 113,125 D
Employee stock option to purchase common stock $21.16 03/01/2024 M 17,776 01/02/2018(14) 01/02/2025 Common Stock 17,776 $0 0 D
Employee stock option to purchase common stock $12.36 03/04/2024 M 113,125 10/13/2018(13) 10/13/2025 Common Stock 113,125 $0 0 D
Employee stock option to purchase common stock $12.85 03/02/2019(15) 03/02/2026 Common Stock 186,919 186,919 D
Employee stock option to purchase common stock $27.4 03/01/2020(16) 03/01/2027 Common Stock 82,405 82,405 D
Employee stock option to purchase common stock $32.69 02/22/2021(17) 02/22/2028 Common Stock 72,298 72,298 D
Employee stock option to purchase common stock $36.51 02/21/2022(18) 02/21/2029 Common Stock 77,463 77,463 D
Employee stock option to purchase common stock $50.09 02/20/2023(19) 02/20/2030 Common Stock 53,465 53,465 D
Employee stock option to purchase common stock $58.34 03/01/2024(20) 03/01/2031 Common Stock 46,291 46,291 D
Employee stock option to purchase common stock $48.97 03/01/2025(21) 03/01/2032 Common Stock 49,378 49,378 D
Employee stock option to purchase common stock $71.93 03/01/2026(22) 03/01/2033 Common Stock 33,707 33,707 D
Employee stock option to purchase common stock $116.4 02/28/2027(23) 02/28/2034 Common Stock 24,238 24,238 D
Explanation of Responses:
1. Includes unvested restricted stock units.
2. Reflects shares sold solely to cover exercise price and income tax obligations in connection with exercise of options.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.70 to $115.65, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.71 to $116.71, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.76 to $117.47, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote..
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.84 to $115.83, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.87 to $116.86, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.92 to $117.07, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
9. Shares delivered to the issuer for the payment of withholding taxes due upon the vesting of restricted stock units previously granted under the SPX Corporation 2019 Stock Compensation Plan.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.80 to $114.79, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.81 to $115.81, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.82 to $116.09, inclusive. The reporting person undertakes to provide to SPX Technologies, Inc., any security holder of SPX Technologies, Inc., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
13. Vests in three equal installments beginning on January 2, 2016.
14. Vests in three equal installments beginning on March 2, 2017.
15. (Vests in three equal installments beginning on March 2, 2017.
16. Vests in three equal installments beginning on March 1, 2018.
17. Vests in three equal installments beginning on February 22, 2019.
18. Vests in three equal installments beginning on February 21, 2020.
19. Vests in three equal installments beginning on February 20, 2021.
20. Vests in three equal installments beginning on March 1, 2022.
21. Vests in three equal installments beginning on March 1, 2023..
22. Vests in three equal installments beginning on March 1, 2024.
23. Vests in three equal installments beginning on February 28, 2025.
/s/ John Nurkin, Attorney in Fact for Eugene Joseph Lowe III 03/04/2024
** 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.
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