SEC Form 4 · accession 0001225208-15-012696
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Curtis A Baron Jr.
Officer — Vice President, Controller
Period of report
May 20, 2015
Accepted (ET)
May 22, 2015 · 5:03 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 20, 2015 | M | 5,000 | $31.94 | A | 11,314 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | May 20, 2015 | F | 3,492 | $62.59 | D | 7,822 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | May 20, 2015 | J | 82 | $0.00 | A | 598 | 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 20, 2015 | M | 5,000 | D | — | Jan 25, 2016 | CRANE CO. COMMON, PAR VALUE $1.00 | 5,000 | 0 | D |
Explanation of responses
- F1Mr. Baron exercised 5,000 stock options priced at $31.94, at a market price of $62.59. The resulting after-tax gain was taken in the form of 1,508 shares of Crane Co. Stock, resulting in a net increase in Mr. Baron's direct holdings by that amount. Mr. Baron tendered 2,552 shares of previously owned stock to pay the exercise price of the options, and 940 shares were withheld to pay taxes on the resulting gain.
- F2Between April 1, 2014 and March 31, 2015, Mr. Baron acquired an aggregate of 82 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).