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Crane NXT, Co. — Director's Dealing 2011
Feb 24, 2011
31213_dirs_2011-02-24_3a77dfaf-b417-4310-8b04-6d36fdf5fd8d.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: 2011-02-22
Reporting Person: FAST ERIC C (Director, President & CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2011-02-22 | CRANE CO. COMMON, PAR VALUE $1.00 | M | 25000.0000 | $23.2300 | Acquired | 190904.0000 | Direct |
| 2011-02-22 | CRANE CO. COMMON, PAR VALUE $1.00 | M | 10000.0000 | $0.0000 | Acquired | 200904.0000 | Direct |
| 2011-02-22 | CRANE CO. COMMON, PAR VALUE $1.00 | F | 4145.0000 | $47.1400 | Disposed | 196759.0000 | Direct |
| 2011-02-22 | CRANE CO. COMMON, PAR VALUE $1.00 | F | 17576.0000 | $47.1400 | Disposed | 179183.0000 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-02-22 | 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 |
| 2011-02-22 | Restricted Stock Units | $ | M | 10000.0000 | Disposed | CRANE CO. COMMON, PAR VALUE $1.00 (10000.0000) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| CRANE CO. COMMON, PAR VALUE $1.00 | 2863.0000 | Indirect |
| CRANE CO. COMMON, PAR VALUE $1.00 | 223152.0000 | Indirect |
| CRANE CO. COMMON, PAR VALUE $1.00 | 53637.0000 | Indirect |
Footnotes
F1: Mr. Fast exercised 25,000 stock options priced at $23.23, at a market price of $47.14. The resulting after-tax gain was taken in the form of 7,424 shares of Crane Co. stock, resulting in a net increase in Mr. Fast's position by that amount, to 173,328 shares. Mr. Fast tendered 12,320 shares of previously owned stock to pay the exercise price of the options, and 5,256 of the option shares were withheld to pay taxes on the resulting gain.
F2: On February 22, 2011, 10,000 Restricted Share Units, which represent the right to receive one share of Crane Co. Common Stock, previously reported as beneficially owned by the reporting person, vested due to the passage of time, and 4,145 shares were withheld to pay taxes on the resulting gain, resulting in a net increase of 5,855 shares of Crane Co. Common Stock.
F3: The option vested 50% one year, 75% two years, and 100% three years after the date of grant (01/28/2002).
F4: 25% of the Restricted Share Units will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant, provided the recipient remains employed by the Company. All Restricted Share Units will be converted into shares of Common Stock upon retirement, death, permanent disability, or in the event of a change in control of the Company.
F5: A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock.