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
141 Cottage Hill Avenue
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
June 1998
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 |6/29/9|F |V|9,629 |D |358,680.25 |19,037 (a) |D | |
|8 | | | | | | | | |
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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>
Employee Stock Option |37.16 |4/6/9|A |V|6,750 |A |(b) |4/6/0|Common Stock|6,750 | |44,907 |D | |
| |8 | | | | | |8 | | | | | | |
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Explanation of Responses:
(a) Since the reporting person's last report, 27,225 shares previously held
through the Varlen Corporation 1993
Deferred Incentive Stock Purchase Plan have been distributed, of which 9,629
shares were withheld by the
Corporation pursuant to the Plan to pay taxes and the remainder of 17,596 are
now owned directly.
(b) On April 6, 1998, purusant to the Corporation's 1989 Incentive Stock
Option Plan, the reporting person received
an incentive stock option grant for 6,750 shares. Options vest at 20% per year
from date of grant.
SIGNATURE OF REPORTING PERSON
/s/Richard A. Nunemaker
DATE
July 6, 1998
