Crane NXT, Co. — Director's Dealing 2012

Jan 25, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CRANE CO /DE/ (CR)
CIK: 0000025445
Period of Report: 2012-01-23

Reporting Person: Switter Edward S (Vice President - Taxes)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-23	2012 Performance-Based Restricted Share Unit	$	A	1531.0000	Acquired		CRANE CO. COMMON, PAR VALUE $1.00 (1531.0000)	Direct
2012-01-23	Employee Stock Option (Right to Buy)	$50.0300	A	7000.0000	Acquired	2018-01-23	CRANE CO. COMMON, PAR VALUE $1.00 (7000.0000)	Direct

Footnotes

F1: Each 2012 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 1.75, depending upon the Total Shareholder Return of Crane Co.'s common stock compared to that of the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2012 and ending December 31, 2014.

F2: Assuming the performance conditions specified in footnote 1 are met, the 2012 Performance-Based RSUs will vest on December 31, 2014, provided the recipient remains employed by the Company; or upon the recipient's earlier retirement, death or permanent disability; or upon a change in control of the Company.

F3: 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.