SEC Form 4 · accession 0001225208-16-025227
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kristian Robert Salovaara
Officer — VP, Business Development
Period of report
Jan 27, 2016
Accepted (ET)
Jan 29, 2016 · 6:10 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 27, 2016 | M | 1,061 | $0.00 | A | 5,649 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Jan 27, 2016 | F | 450 | $45.96 | D | 5,199 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jan 28, 2016 | M | 354 | $0.00 | A | 5,553 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jan 28, 2016 | F | 151 | $46.06 | D | 5,402 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F3 | Jan 28, 2016 | J | 7 | $0.00 | A | 417 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitF1,F4,F5 | — | Jan 27, 2016 | M | 1,061 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 1,061 | 5,516 | D |
| Restricted Share UnitF2,F6,F5 | — | Jan 28, 2016 | M | 354 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 354 | 5,162 | D |
Explanation of responses
- F1On January 27, 2016, 1,061 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 450 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 611 shares of Crane Co. Common Stock.
- F2On January 28, 2016, 354 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 151 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 203 shares of Crane Co. Common Stock.
- F3Between April 1, 2015 and December 31, 2015, the reporting person acquired an aggregate of 7 shares of Common Stock at prevailing market prices through the issuer's 401(K) Plan.
- F425% 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 27, 2014), 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.
- F5A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock.
- F625% 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 28, 2013), 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.