SPX Technologies, Inc. — Director's Dealing 2004

Jan 30, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPX CORP (SPW)
CIK: 0000088205
Period of Report: 2004-01-28

Reporting Person: BLYSTONE JOHN B (Director, Chairman, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-28	Common Stock	S	200	$60.13	Disposed	1036762	Direct
2004-01-28	Common Stock	S	200	$60.15	Disposed	1036562	Direct
2004-01-28	Common Stock	S	500	$60.18	Disposed	1036062	Direct
2004-01-28	Common Stock	S	200	$60.20	Disposed	1035862	Direct
2004-01-28	Common Stock	S	900	$60.25	Disposed	1034962	Direct
2004-01-28	Common Stock	S	100	$60.30	Disposed	1034862	Direct
2004-01-28	Common Stock	S	300	$60.35	Disposed	1034562	Direct
2004-01-29	Common Stock	M	6300	$22.875	Acquired	1040862	Direct
2004-01-29	Common Stock	S	600	$58.20	Disposed	1040262	Direct
2004-01-29	Common Stock	S	1800	$58.25	Disposed	1038462	Direct
2004-01-29	Common Stock	S	100	$58.30	Disposed	1038362	Direct
2004-01-29	Common Stock	S	2500	$58.45	Disposed	1035862	Direct
2004-01-29	Common Stock	S	100	$58.46	Disposed	1035762	Direct
2004-01-29	Common Stock	S	600	$58.50	Disposed	1035162	Direct
2004-01-29	Common Stock	S	100	$58.52	Disposed	1035062	Direct
2004-01-29	Common Stock	S	400	$58.53	Disposed	1034662	Direct
2004-01-29	Common Stock	S	100	$58.54	Disposed	1034562	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-29	Employee stock option to purchase common stock	$0	M	6300	Disposed	2007-02-25	Common Stock (1630000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5055	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee stock option to purchase common stock	$32.4375	2009-01-03	Common Stock (65000)	65000	Direct
Employee stock option to purchase common stock	$0	2009-06-22	Common Stock (2000000)	2000000	Direct
Employee stock option to purchase common stock	$38.9063	2010-01-02	Common Stock (130000)	130000	Direct
Employee stock option to purchase common stock	$58.375	2005-12-17	Common Stock (8956)	8956	Direct
Employee stock option to purchase common stock	$58.375	2008-01-01	Common Stock (13026)	13026	Direct
Employee stock option to purchase common stock	$86.4688	2005-12-17	Common Stock (43458)	43458	Direct
Employee stock option to purchase common stock	$86.00	2007-01-13	Common Stock (19440)	19440	Direct
Employee stock option to purchase common stock	$86.00	2007-01-13	Common Stock (21520)	21520	Direct
Employee stock option to purchase common stock	$86.00	2005-12-17	Common Stock (47906)	47906	Direct
Employee stock option to purchase common stock	$0	2010-08-21	Common Stock (2000000)	2000000	Direct
Employee stock option to purchase common stock	$48.44	2011-01-11	Common Stock (130000)	130000	Direct
Employee stock option to purchase common stock	$47.565	2008-01-01	Common Stock (54642)	54642	Direct
Employee stock option to purchase common stock	$47.565	2009-01-03	Common Stock (53784)	53784	Direct
Employee stock option to purchase common stock	$58.875	2007-01-13	Common Stock (13528)	13528	Direct
Employee stock option to purchase common stock	$61.50	2007-01-13	Common Stock (17202)	17202	Direct
Employee stock option to purchase common stock	$61.50	2008-01-01	Common Stock (35510)	35510	Direct
Employee stock option to purchase common stock	$69.43	2012-01-01	Common Stock (200000)	200000	Direct
Employee stock option to purchase common stock	$38.57	2013-01-02	Common Stock (200000)	200000	Direct

Footnotes

F1: Includes 1,000,000 shares of Restricted Stock awarded pursuant to the SPX Corporation 2002 Stock Compensation Plan under an amendment to Mr. Blystone's employment agreement. Shares vest in five annual installments of 200,000 shares commencing on July 3, 2007.

F2: Exercise price: 130,000 shares at $22.875 per share, 500,000 shares at $30 per share, 500,000 shares at $37.50 per share, and 500,000 shares at $45 per share. The 6,300 shares exercised had an exercise price of $22.875.

F3: Granted pursuant to SPX Corporation 2002 Stock Compensation Plan or its predecessor plan, the 1992 Stock Compensation Plan.

F4: Option vested as to 65,000 shares on each of January 4, 2001 and 2002.

F5: Grant of options to purchase Common Stock - 500,000 shares at $60 per share, 500,000 shares at $72.50 per share, 500,000 shares at $85 per share, and 500,000 shares at $97.50 per share.

F6: Option vests as to 65,000 shares on each of January 3, 2002 and 2003.

F7: Grant of options to purchase Common Stock: 500,000 shares at $105 per share, 500,000 shares at $120 per share, 500,000 shares at $135 per share, and 500,000 shares at $150 per share.

F8: Option vests as to 43,334 shares on each of January 2, 2002 and 2004, and 43,332 shares on January 2, 2003.

F9: Option vests as to 66,668 shares on January 2, 2003 and 66,666 shares on each of January 2, 2004 and 2005.

F10: Option vests as to 66,667 shares on each of January 3, 2004 and 2005 and 66,666 shares on January 3, 2006.

F11: The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 31, 2003.