SEC Form 4 · accession 0001225208-16-024886

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

Jan 25, 2016

Accepted (ET)

Jan 28, 2016 · 10:05 am 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 $1.00^F1	Jan 25, 2016	M	12,633	$0.00	A	88,886	D
CRANE CO. COMMON, PAR VALUE $1.00^F2	Jan 25, 2016	F	4,362	$43.57	D	84,524	D
CRANE CO. COMMON, PAR VALUE $1.00	holding	—	—		—	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
2013 Performance-Based Restricted Share Unit^F2,F1	—	Jan 25, 2016	M	14,605	D	—	—	CRANE CO. COMMON, PAR VALUE $1.00	14,605	0	D
2016 Performance-Based Restricted Share Unit^F3,F4	—	Jan 25, 2016	A	44,701	A	—	—	CRANE CO. COMMON, PAR VALUE $1.00	44,701	44,701	D
Employee Stock Option (Right to Buy)^F5	$43.57	Jan 25, 2016	A	217,791	A	—	Jan 25, 2026	CRANE CO. COMMON, PAR VALUE $1.00	217,791	217,791	D

Explanation of responses

F1Each 2013 Performance-Based RSU granted in January 2013 represented a contingent right to receive a number of shares of Crane Co. Common Stock between zero and 1.75, to be determined with reference to the Total Shareholder Return of Crane Co.'s Common Stock compared to that of the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2013 and ending December 31, 2015. On January 25, 2016, each Performance-Based RSU was converted to the right to receive 0.865 shares of Common Stock.
F214,605 Performance-Based RSUs granted in January 2013 were converted on January 25, 2016 into the right to receive 12,633 shares of Common Stock, and 4,362 shares were surrendered to pay taxes on the resulting gain.
F3Each 2016 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 2.00, depending upon the Total Shareholder Return of Crane Co.'s common stock compared to that of the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2016 and ending December 31, 2018.
F4Assuming the performance conditions specified in footnote 3 are met, the Performance-Based RSUs will vest on December 31, 2016, provided the recipient remains employed by the Company; or upon the recipient's earlier retirement, death or permanent disability; or upon a change in control of the Company.
F5Options become exercisable 25% on the first anniversary, 50% on the second anniversary, 75% on the third anniversary and 100% on the fourth anniversary of the date of grant.