SEC Form 4 · accession 0000025445-18-000018
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward S Switter
Officer — V.P. Treasury & Tax
Period of report
Jan 25, 2018
Accepted (ET)
Jan 29, 2018 · 7:31 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000025445
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Jan 25, 2018 | M | 198 | $0.00 | A | 17,071 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Jan 25, 2018 | F | 72 | $93.85 | D | 16,999 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jan 26, 2018 | M | 147 | $0.00 | A | 17,146 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jan 26, 2018 | F | 54 | $94.09 | D | 17,092 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitF1,F3,F4 | — | Jan 25, 2018 | M | 198 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 198 | 1,330 | D |
| Restricted Share UnitF2,F5,F4 | — | Jan 26, 2018 | M | 147 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 147 | 1,183 | D |
Explanation of responses
- F1On January 25, 2018, 198 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 72 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 126 shares of Crane Co. Common Stock.
- F2On January 26, 2018, 147 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 54 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 93 shares of Crane Co. Common Stock.
- F325% 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 (January 25, 2016), 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.
- F4A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock.
- F525% 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 (January 26, 2015), 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.