SEC Form 4 · accession 0001225208-15-012125
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Max H Mitchell
Officer — President and CEO · Director
Period of report
May 12, 2015
Accepted (ET)
May 14, 2015 · 5:38 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 | May 12, 2015 | M | 40,000 | $31.94 | A | 105,810 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | May 12, 2015 | F | 29,557 | $60.62 | D | 76,253 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | May 12, 2015 | J | 158 | $0.00 | A | 2,502 | I | 401(K) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F1,F3 | $31.94 | May 12, 2015 | M | 40,000 | D | — | Jan 25, 2016 | CRANE CO. COMMON, PAR VALUE $1.00 | 40,000 | 0 | D |
Explanation of responses
- F1Mr. Mitchell exercised 40,000 stock options, priced at $31.94 and due to expire January 2016, at a market price of $60.62. The resulting after-tax gain was taken in the form of 10,443 shares of Crane Co. Stock, resulting in a net increase in Mr. Mitchell's direct holdings by that amount, to 76,253 shares. Mr. Mitchell tendered 21,076 shares of previously owned stock to pay the exercise price of the options, and 8,481 shares were withheld to pay taxes on the resulting gain.
- F2Between November 1, 2014 and March 31, 2015, Mr. Mitchell acquired an aggregate of 158 shares of common stock at prevailing market prices through the issuer's 401(K) Plan.
- F3This option vested 25% on the first, 50% on the second, 75% on the third and 100% on the fourth anniversary of the grant date (01/25/2010).