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FORM 4
[ ] Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may continue.
See Instruction 1(b).
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
|_____________________|
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB NUMBER: 3235-0287|
|EXPIRES: |
| JANUARY 31, 2005 |
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(h) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person*
Hussey Kent J.
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(Last) (First) (Middle)
c/o Rayovac Corporation, 601 Rayovac Drive
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(Street)
Madison Wisconsin 53711
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Rayovac Corporation (ROV)
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3. I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary)
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4. Statement for Month/Day/Year
10/1/2002
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5. If Amendment, Date of Original (Month/Day/Year)
10/3/2002
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ x] Director
[ ] 10% Owner
[ x] Officer (give title below)
[ ] Other (specify below)
President and Chief Operating Officer
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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 ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
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1. Title of Security (Instr. 3)
Common Stock
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2. Transaction Date (Month/Day/Year)
10/1/2002
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2A. Deemed Execution Date, if any (Month/Day/Year)
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3. Transaction Code (Instr. 8)
A
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)
Price:
62,397 (A)
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5. Amount of Securities Beneficially Owned Following Reported
Transaction(s)
(Instr. 3 and 4)
144,491
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6. Ownership Form: Direct(D) or Indirect(I) (Instr. 4)
133,631(D); 10,860(I)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
See Footnote (1)
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TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 3)
A. Employee Stock Option (Right to Buy)
B. Employee Stock Option (Right to Buy)
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2. Conversion or Exercise Price of Derivative Security
A. $12.20
B. $12.20
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3. Transaction Date (Month/Day/Year)
A. 10/1/2002
B. 10/1/2002
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3A. Deemed Execution Date, if any (Month/Day/Year)
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4. Transaction Code (Instr. 8)
A. A
B. A
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
A. Granted option to purchase 37,500 shares of Common Stock (A)
B. Granted option to purchase 37,500 shares of Common Stock (A)
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6. Date Exercisable and Expiration Date (Month/Day/Year)
A. See Footnote (2)
B. See Footnote (3)
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
A. Common Stock; 37,500 shares
B. Common Stock; 37,500 shares
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8. Price of Derivative Securities (Instr. 5)
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9. Number of Derivative Securities Beneficially Owned Following Reported
Transaction(s)
(Instr. 4)
A. 37,500
B. 37,500
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10. Ownership Form of Derivative Security: Direct(D) or Indirect (I)
(Instr. 4)
A. Direct
B. Direct
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
A. Not applicable
B. Not applicable
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EXPLANATION OF RESPONSES:
(1) The reporting person's spouse holds 4,443 shares, the reporting
person's daughter holds 2,500 shares and the reporting person's
brother holds 3,000 shares as guardian for the reporting person's
daughter. The reporting person also holds 917 shares through the
Rayovac 401(k) Retirement Savings Plan.
(2) The option vests and becomes exercisable in equal annual installments
over a three-year period that commenced October 1, 2002. The option
expires on October 1, 2012.
(3) The option vests and becomes exercisable in equal annual installments
over a three-year period that commenced October 1, 2002, subject to
Rayovac's achievement of certain performance goals each year. If any
such performance goal is not met, the unvested portion of the option
will vest and become exercisable one day prior to its expiration. The
option expires on October 1, 2012.
/s/ James T. Lucke, as attorney-in-fact October 3, 2002
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** 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.