(Address
of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (980) 474-3700
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined
in Rule 405 of the Securities Act of 1933 (17 CFR§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b‑2).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 5.02.
Departure
of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 22, 2017, the Board of Directors (the “Board”) of SPX Corporation (the “Company”) elected Robert B. Toth as director of the Company effective July 1, 2017. Also effective July 1, 2017, the Board appointed Mr. Toth as a member of the Board’s Compensation Committee.
For his service through the Company’s
2018 Annual Meeting of Stockholders, Mr. Toth will receive a cash retainer based on the annual cash retainer awarded to non-employee directors, but pro-rated for his period of service beginning as of the effective date of his election to the Board. In addition, he will receive an equity grant of time-vested restricted stock units of the Company having a grant date value based on the grant date value of the annual grant of restricted stock units awarded to non-employee directors, but pro-rated for the period of his service beginning as of the effective date of his election to the Board, which restricted shares vest, subject to his continued service on the Board, the day before the Company’s 2018 Annual Meeting of Stockholders. Such annual compensation for non-employee directors of the
Company is set forth below:
Annual Retainer of Cash
$
75,000
Grant Date Value of Annual Award of Time-Vested Restricted Stock Units
$
130,000
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.