UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Nunemaker, Richard A
315 Chandler
Elmhurst, IL 60126
2. Issuer Name and Ticker or Trading Symbol
Varlen Corporation
VRLN
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
November 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President Finance and Chief Financial Officer
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 |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock | | |X| | | |1441 ##|D | |
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Common Stock |11/24/|M | |9990 |A |53,435 | |D | |
|97 | | | | | | | | |
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Common Stock |11/24/|S | |9990 |D |277,223 | |D | |
|97 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Purchase Right |7.35 | | |V| | | | |Common Stock| | |27,225 |D | |
| | | | | | | | | | | |## | | |
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Employee Stock Option |20.00 |4/7/9|A |V|4,500 |A | |4/7/0|Common Stock|4,500 | | |D | |
| |7 | | | | | # |7 | | | | | | |
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Employee Stock Option |5.14 |11/24|M | |1,089 |D | |3/25/|Common Stock|1,089 | | | | |
| |/97 | | | | | |01 | | | | | | |
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|4.77 |11/24|M | |4,945 |D | |8/26/| |4,945 | | | | |
| |/97 | | | | | |01 | | | | | | |
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|6.13 |11/24|M | |3,956 |D | |3/30/| |3,956 | |38,157 |D | |
| |/97 | | | | | |02 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
# On April 7, 1997, pursuant to the Corporation's 1993 Incentive Stock Option
Plan, the reporting person received an incentive stock option grant for
4,500 shares. Options vest at 20% per year from date of
grant.
## On September 29, 1997, Varlen Corporation declared a fifty percent stock
dividend payable to all holders of record of common stock on October
31, 1997. As a result of the stock dividend, the reporting person received on
November 18, 1997, the following: a) 480 shares of common stock, b)
9,075 shares of common stock in an employee stock purchase right; and c) an
increase in outstanding options of 16,049 shares.
SIGNATURE OF REPORTING PERSON
/s/ Richard A. Nunemaker
