SEC Form 4 · accession 0000025445-18-000109
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter O Scannell
Director
Period of report
Apr 23, 2018
Accepted (ET)
Apr 25, 2018 · 5:59 pm EDT
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 | Apr 23, 2018 | M | 7,390 | $0.00 | A | 7,390 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Stock UnitsF3,F2,F4 | — | Apr 23, 2018 | A | 107 | A | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 107 | 7,390 | D |
| Deferred Stock UnitsF1,F2,F4 | — | Apr 23, 2018 | M | 7,390 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 7,390 | 0 | D |
Explanation of responses
- F1Mr. Scannell resigned from the Board effective as of the Annual Meeting on April 23, 2018. 7,390 previously granted Deferred Stock Units converted to shares of Crane Co. Common Stock on that date.
- F2Each Deferred Stock Unit represents the right to receive one share of Crane Co. common stock upon separation from service on the Board of Directors.
- F3Additional Deferred Stock Units are granted during the year to coincide with payment of dividends of Crane Co. Stock.
- F4Following separation from service on the Board of Directors, the Director will receive one share of Crane Co. common stock for each Deferred Stock Unit; however, if the Director's service terminates before the first anniversary of the Grant, except for reasons of death, or a change in control of Crane Co., then the right to receive such shares will expire.