AI assistant
Crane NXT, Co. — Director's Dealing 2018
Feb 7, 2018
31213_dirs_2018-02-07_3cb08240-6fa5-4b2f-872d-e0c6b91a6a81.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 3 — Initial Statement of Beneficial Ownership
Issuer: CRANE CO /DE/ (CR)
CIK: 0000025445
Period of Report: 2018-02-01
Reporting Person: D'Iorio Anthony M. (General Counsel & Secretary)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| CRANE CO. COMMON, PAR VALUE $1.00 | 5237 | Direct |
| CRANE CO. COMMON, PAR VALUE $1.00 | 307 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy) | $48.59 | 2019-01-29 | CRANE CO. COMMON, PAR VALUE $1.00 (1993.0) | Direct | |
| Employee Stock Option (Right to Buy) | $64.78 | 2024-01-27 | CRANE CO. COMMON, PAR VALUE $1.00 (6205.0) | Direct | |
| Employee Stock Option (Right to Buy) | $58.47 | 2025-01-26 | CRANE CO. COMMON, PAR VALUE $1.00 (5680.0) | Direct | |
| Employee Stock Option (Right to Buy) | $43.57 | 2026-01-25 | CRANE CO. COMMON, PAR VALUE $1.00 (8589.0) | Direct | |
| Employee Stock Option (Right to Buy) | $73.9 | 2027-01-30 | CRANE CO. COMMON, PAR VALUE $1.00 (7704.0) | Direct | |
| Employee Stock Option (Right to Buy) | $93.4 | 2028-01-29 | CRANE CO. COMMON, PAR VALUE $1.00 (9837.0) | Direct | |
| Restricted Share Unit | $ | CRANE CO. COMMON, PAR VALUE $1.00 (3650.0) | Direct | ||
| 2018 Performance-Based Restricted Share Unit | $ | 2018 Performance-Based Restricted Share Unit (2677.0) | Direct |
Footnotes
F1: 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.
F2: 25% of the Restricted Share Units granted will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant date, provided the recipient remains employed by the Company, or retires after age 65, or after age 62 with ten years of service; all Restricted Share Units will be converted into shares of Common Stock upon death or permanent disability, or if employment is involuntarily terminated within two years after a change in control of the Company.
F3: A Restricted Share Unit is forfeited if the recipient resigns, or employment is terminated, before it has been converted to Common Stock.
F4: Each Restricted Share Unit represents the right to receive one share of Crane Co. Common Stock if the recipient remains employed by the Company upon expiration of the time-based restrictions, or in certain other circumstances as described in footnote 2.
F5: Assuming the performance conditions specified in footnote 6 are met, the Performance-Based RSUs will vest on December 31, 2020, if the recipient remains employed by the Company; or has died or become permanently disabled; or has retired at age 65 (or age 62 with ten years of service) subject to a non-competition condition. In the event of a change in control of the Company, the vesting percentage would be determined as of the date of the change in control, although the date of vesting would remain December 31, 2020.
F6: Each 2018 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 2.00, 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, 2018 and ending December 31, 2020.