Crane NXT, Co. — Director's Dealing 2009

Apr 22, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CRANE CO /DE/ (CR)
CIK: 0000025445
Period of Report: 2009-04-20

Reporting Person: LIPNER WILLIAM E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-04-20	CRANE CO. COMMON, PAR VALUE $1.00	J	9	—	Acquired	252	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-04-20	Deferred Stock Units	$0	A	3975	Acquired		CRANE CO. COMMON, PAR VALUE $1.00 (3975)	Direct
2009-04-20	Deferred Stock Units	$0	A	66	Acquired		CRANE CO. COMMON, PAR VALUE $1.00 (66)	Direct
2009-04-20	Director Stock Option(Right to Buy)	$18.87	A	2000	Acquired	2019-04-20	CRANE CO. COMMON, PAR VALUE $1.00 (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
CRANE CO. COMMON, PAR VALUE $1.00	7670	Direct

Footnotes

F1: Between April 1, 2008 and March 31, 2009, the reporting person acquired an aggregate of 9 shares of common stock at prevailing market prices through the issuer's Dividend Reinvestment Plan.

F2: Each Deferred Stock Unit represents the right to receive one share of Crane Co. common stock upon separation from service on the Board of Directors.

F3: Following separation from service on the Board of Directors, the Director will receive one share of Crane Co. common stock for each Deferred Stock Unit; however, if the Director's service terminates before the first anniversary of the Grant, except for reasons of death, or a change in control of Crane Co., then the right to receive such shares will expire.

F4: Additional Deferred Stock Units are granted during the year to coincide with payment of dividends of Crane Co. stock.

F5: Options become exercisable 25% on the first anniversary, 50% on the second anniversary, 75% on the third anniversary, and 100% on the fourth anniversary of the date of grant.