SEC Form 4 · accession 0000025445-19-000047
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James A. Lavish
Officer — VP, CBS, People & Performance
Period of report
Jan 29, 2019
Accepted (ET)
Jan 31, 2019 · 5:23 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 29, 2019 | M | 164 | $0.00 | A | 20,766 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Jan 29, 2019 | F | 51 | $82.82 | D | 20,715 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jan 30, 2019 | M | 216 | $0.00 | A | 20,931 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jan 30, 2019 | F | 67 | $83.12 | D | 20,864 | 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 29, 2019 | M | 164 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 164 | 2,245 | D |
| Restricted Share UnitF2,F5,F4 | — | Jan 30, 2019 | M | 216 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 216 | 2,029 | D |
Explanation of responses
- F1On January 29, 2019, 164 Restricted Share Units, each of 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 51 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 113 shares of Crane Co. Common Stock.
- F2On January 30, 2019, 216 Restricted Share Units, each of 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 67 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 149 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 29, 2018), 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 resigns, or employment is terminated, 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 30, 2017), 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.