SEC Form 4 · accession 0001225208-16-025098
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brendan Curran
Officer — Group Pres. Aerospace & Elec.
Period of report
Jan 26, 2016
Accepted (ET)
Jan 28, 2016 · 6:04 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 26, 2016 | M | 307 | $0.00 | A | 3,323 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Jan 26, 2016 | F | 101 | $46.52 | D | 3,222 | 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,F2,F3 | — | Jan 26, 2016 | M | 307 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 307 | 7,650 | D |
Explanation of responses
- F1On January 26, 2016, 307 Restricted Share Units, 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 101 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 206 shares of Crane Co. Common Stock.
- F225% 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 26, 2015), provided the recipient remains employed by the Company; all Restricted Share Units will be converted into shares of Common Stock upon retirement, death, permanent disability, or termination following a change in control of the Company.
- F3A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock.