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Crane NXT, Co. — Director's Dealing 2008
Aug 18, 2008
31213_dirs_2008-08-18_ff82fa1b-935d-48e6-ba8b-28124136b133.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: CRANE CO /DE/ (CR)
CIK: 0000025445
Period of Report: 2008-08-15
Reporting Person: FAST ERIC C (Director, President & CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2008-08-15 | CRANE CO. COMMON, PAR VALUE $1.00 | M | 80000 | $19.11 | Acquired | 484860 | Direct |
| 2008-08-15 | CRANE CO. COMMON, PAR VALUE $1.00 | F | 58125 | $35.855 | Disposed | 426735 | Direct |
| 2008-08-15 | CRANE CO. COMMON, PAR VALUE $1.00 | J | 9 | — | Acquired | 2158 | Indirect |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2008-08-15 | Employee Stock Option (Right to Buy) | $19.11 | M | 80000 | Disposed | 2013-01-27 | CRANE CO. COMMON, PAR VALUE $1.00 (80000) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| CRANE CO. COMMON, PAR VALUE $1.00 | 75777 | Indirect |
Footnotes
F1: Mr. Fast exercised 80,000 stock options priced at $19.11, at a market price of $35.855. The resulting after-tax gain was taken in the form of 21,875 shares of Crane Co. stock, resulting in a net increase in Mr. Fast's position by that amount, to 426,735 shares. Mr. Fast tendered 42,639 shares of previously owned stock to pay the exercise price of the options, and 15,486 of the option shares were withheld to pay taxes on the resulting gain.
F2: Between May 1, 2008 and July 31, 2008, Mr. Fast acquired an aggregate of 9 shares of common stock at prevailing market prices through the issuer's 401(K) plan.
F3: The option vested 50% on the first, 75% on the second and 100% on the third anniversary of the grant date (01/27/2003).