SEC Form 4 · accession 0001225208-15-012200
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Augustus I Dupont
Officer — V.P., Gen. Couns. & Sec.
Period of report
May 14, 2015
Accepted (ET)
May 15, 2015 · 6:00 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 14, 2015 | M | 15,000 | $31.94 | A | 99,667 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | May 14, 2015 | F | 10,427 | $62.51 | D | 89,240 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | May 14, 2015 | J | 189 | $0.00 | A | 4,803 | 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 14, 2015 | M | 15,000 | D | — | Jan 25, 2016 | CRANE CO. COMMON, PAR VALUE $1.00 | 15,000 | 0 | D |
Explanation of responses
- F1Mr. duPont exercised 15,000 stock options priced at $31.94, at a market price of $62.51. The resulting after-tax gain was taken in the form of 4,573 shares of Crane Co. Stock, resulting in a net increase in Mr. duPont's direct holdings by that amount. Mr. duPont tendered 7,665 shares of previously owned stock to pay the exercise price of the options, and 2,762 shares were withheld to pay taxes on the resulting gain.
- F2Between November 1, 2014 and March 31, 2015, Mr. duPont acquired an aggregate of 189 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).