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Crane NXT, Co. — Director's Dealing 2011
Apr 28, 2011
31213_dirs_2011-04-28_7a7228da-74ba-4a23-a270-51bf190ae895.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: 2011-04-26
Reporting Person: FAST ERIC C (Director, President & CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2011-04-26 | CRANE CO. COMMON, PAR VALUE $1.00 | M | 25000.0000 | $23.2300 | Acquired | 120985.0000 | Direct |
| 2011-04-26 | CRANE CO. COMMON, PAR VALUE $1.00 | F | 17183.0000 | $49.8600 | Disposed | 103802.0000 | Direct |
| 2011-04-27 | CRANE CO. COMMON, PAR VALUE $1.00 | M | 25000.0000 | $23.2300 | Acquired | 128802.0000 | Direct |
| 2011-04-27 | CRANE CO. COMMON, PAR VALUE $1.00 | F | 17170.0000 | $49.9500 | Disposed | 111632.0000 | Direct |
| 2011-04-26 | CRANE CO. COMMON, PAR VALUE $1.00 | S | 34234.0000 | $49.7942 | Disposed | 279472.0000 | Indirect |
| 2011-04-26 | CRANE CO. COMMON, PAR VALUE $1.00 | S | 12735.0000 | $49.8231 | Disposed | 40902.0000 | Indirect |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-04-26 | Employee Stock Option (Right to Buy) | $23.2300 | M | 25000.0000 | Disposed | 2012-01-28 | CRANE CO. COMMON, PAR VALUE $1.00 (25000.0000) | Direct |
| 2011-04-27 | Employee Stock Option (Right to Buy) | $23.2300 | M | 25000.0000 | Disposed | 2012-01-28 | CRANE CO. COMMON, PAR VALUE $1.00 (25000.0000) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| CRANE CO. COMMON, PAR VALUE $1.00 | 2863.0000 | Indirect |
Footnotes
F1: Mr. Fast exercised 25,000 stock options priced at $23.23, at a market price of $49.86. The resulting after-tax gain was taken in the form of 7,817 shares of Crane Co. stock, resulting in a net increase in Mr. Fast's direct holdings by that amount, to 103,802 shares. Mr. Fast tendered 11,648 shares of previously owned stock to pay the exercise price of the options, and 5,535 shares were withheld to pay taxes on the resulting gain.
F2: Mr. Fast exercised 25,000 stock options priced at $23.23, at a market price of $49.95. The resulting after-tax gain was taken in the form of 7,830 shares of Crane Co. stock, resulting in a net increase in Mr. Fast's direct holdings by that amount, to 111,632 shares. Mr. Fast tendered 11,627 shares of previously owned stock to pay the exercise price of the options, and 5,543 shares were withheld to pay taxes on the resulting gain.
F3: 34,234 shares of Crane Co. common stock were sold by the Eric C. Fast 2010 GRAT No. 1, a grantor retained annuity trust for the benefit of Mr. Fast's spouse and adult children.
F4: Weighted average price at which shares were sold in multiple same-day transactions at prices ranging from $49.65 to $49.99. The reporting person undertakes to provide, upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
F5: 12,735 shares of Crane Co. common stock were sold by the Fast Family Trust for the benefit of Mr. Fast's spouse and adult children.
F6: Weighted average price at which shares were sold in multiple same-day transactions at prices ranging from $49.72 to $50.02. The reporting person undertakes to provide, upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
F7: The option vested 50% one year, 75% two years, and 100% three years after the date of grant (01/28/2002).