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FORM 3
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
|_____________________|
INITIAL STATEMENT OF |OMB NUMBER: 3235-0104|
BENEFICIAL OWNERSHIP OF SECURITIES |EXPIRES: |
| DECEMBER 31, 2001 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE..... 0.5|
Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person*
Cancio Luis A.
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(Last) (First) (Middle)
c/o Rayovac Corporation, 5201 Blue Lagoon Drive, Suite 817
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(Street)
Miami Florida 33126
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
August 1, 1999
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3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Rayovac Corporation (ROV)
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director
( ) 10% Owner
(X) Officer (give title below)
( ) Other (specify below)
Senior Vice President and General Manager,
Rayovac Latin America
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___________________________________________________________________________
6. If Amendment, Date of Original (Month/Day/Year)
___________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable Line)
_X_Form filed by One Reporting Person
___Form filed by More than One Reporting Person
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security (Instr. 4)
Common Stock, par value $.01 per share
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2. Amount of Securities Beneficially Owned (Instr. 4)
3,000 shares
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3. Ownership Form: Direct (D) or Indirect (I)(Instr. 5)
Direct
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4. Nature of Indirect Beneficial Ownership (Instr. 5)
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
* If the form is filed by more than on reporting person,
see Instruction 5(b)(v)
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative Security (Instr. 4)
Employee Stock Option (Right to Buy)
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2. Date Exercisable and Expiration Date (Month/Day/Year)
(1) (2)
________________________ _________________________
Date Exercisable Expiration Date
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3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, par
value $.01 per share 100,000
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Title Amount or Number of Shares
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4. Conversion or Exercise Price of Derivative Security
$20.9375 per share
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5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 5)
Direct
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
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EXPLANATION OF RESPONSES:
(1) Options to purchase 50,000 shares become exercisable at a rate of 25%
per year over a four year period and options to purchase an additional
50,000 shares become exercisable on September 30, 2009, with accelerated
vesting over the next five fiscal years based upon the Company's
achievement of certain financial performance goals. All outstanding
options will become fully exercisable in the event of a change of
control of the Company.
(2) Options to purchase 50,000 shares will terminate upon the earliest of
(i) a change of control of the Company; (ii) the effective date of any
public offering of shares registered under the Securities Act of 1933,
subject to certain conditions; or (iii) September 30, 2009. Options to
purchase an additional 50,000 shares will terminate upon the earliest of
(i) a sale of the Company; (ii) the effective date of any public
offering of shares registered under the Securities Act of 1933, subject
to certain conditions; or (iii) October 10, 2009.
/s/ Luis A. Cancio 12/8/99
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** SIGNATURE OF REPORTING PERSON DATE
_____________________________
** 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.
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
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