SEC Form 4 · accession 0001225208-16-031909
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard S Forte
Director
Period of report
Apr 25, 2016
Accepted (ET)
Apr 27, 2016 · 6:41 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 | Apr 25, 2016 | M | 4,214 | $0.00 | A | 8,641 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00 | holding | — | — | — | 4,769 | I | DRP |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Stock UnitsF3,F2,F4 | — | Apr 25, 2016 | A | 353 | A | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 353 | 14,390 | D |
| Deferred Stock UnitsF1,F2,F4 | — | Apr 25, 2016 | M | 4,214 | D | — | — | CRANE CO. COMMON, PAR VALUE $1.00 | 4,214 | 10,176 | D |
Explanation of responses
- F1Mr. Forte did not stand for re-election to the Board at the Annual Meeting on April 25, 2016. 4,214 previously granted Deferred Stock Units converted to shares of Crane Co. Common Stock on that date. Mr. Forte had elected to have his remaining Deferred Stock Units convert to Crane Co. Common Stock on various subsequent dates.
- F2Each Deferred Stock Unit represents the right to receive one share of Crane Co. common stock upon separation from service on the Board of Directors.
- F3Additional Deferred Stock Units are granted during the year to coincide with payment of dividends of Crane Co. Stock.
- F4Following separation from service on the Board of Directors, the Director will receive one share of Crane Co. common stock for each Deferred Stock Unit; however, if the Director's service terminates before the first anniversary of the Grant, except for reasons of death, or a change in control of Crane Co., then the right to receive such shares will expire.