SEC Form 4 · accession 0001225208-16-037257
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Augustus I Dupont
Officer — V.P., Gen. Couns. & Sec.
Period of report
Jul 28, 2016
Accepted (ET)
Aug 1, 2016 · 5:09 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 | Jul 28, 2016 | M | 27,000 | $43.72 | A | 115,962 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Jul 28, 2016 | F | 21,745 | $61.95 | D | 94,217 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00 | holding | — | — | — | 4,894 | 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,F2 | $43.72 | Jul 28, 2016 | M | 27,000 | D | — | Jan 24, 2017 | CRANE CO. COMMON, PAR VALUE $1.00 | 27,000 | 0 | D |
Explanation of responses
- F1Mr. duPont exercised 27,000 stock options, priced at $43.72 and due to expire January 2017, at a market price of $61.95. The resulting after tax gain was taken in the form of 5,255 shares of Crane Co. Stock, resulting in a net increase in Mr. duPont's direct holdings by that amount, to 94,217 shares. Mr. duPont tendered 19,055 shares of previously owned stock to pay the exercise price of the options, and 2,690 shares were withheld to pay taxes on the resulting gain.
- F2This option vested 25% on the first, 50% on the second, 75% on the third and 100% on the fourth anniversary of the grant date (01/24/2011).