Form 4 - Statement of changes in beneficial ownership of securities

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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).
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