SEC Form 4 · accession 0001225208-16-037258
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
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 | 40,000 | $43.72 | A | 131,238 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jul 28, 2016 | M | 25,000 | $46.52 | A | 156,238 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Jul 28, 2016 | F | 21,791 | $61.95 | D | 134,447 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Jul 28, 2016 | F | 33,933 | $61.95 | D | 100,514 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00 | holding | — | — | — | 2,549 | 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,F3 | $43.72 | Jul 28, 2016 | M | 40,000 | D | — | Jan 24, 2017 | CRANE CO. COMMON, PAR VALUE $1.00 | 40,000 | 0 | D |
| Employee Stock Option (Right to Buy)F2,F4 | $46.52 | Jul 28, 2016 | M | 25,000 | D | — | May 23, 2017 | CRANE CO. COMMON, PAR VALUE $1.00 | 25,000 | 0 | D |
Explanation of responses
- F1Mr. Mitchell exercised 40,000 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 6,067 shares of Crane Co. Stock, resulting in a net increase in Mr. Mitchell's direct holdings by that amount, to 97,305 shares. Mr. Mitchell tendered 28,230 shares of previously owned stock to pay the exercise price of the options, and 5,703 shares were withheld to pay taxes on the resulting gain.
- F2Mr. Mitchell exercised 25,000 stock options, priced at $46.52 and due to expire May 2017, at a market price of $61.95. The resulting after tax gain was taken in the form of 3,209 shares of Crane Co. Stock, resulting in a net increase in Mr. Mitchell's direct holdings by that amount, to 100,514 shares. Mr. Mitchell tendered 18,774 shares of previously owned stock to pay the exercise price of the options, and 3,017 shares were withheld to pay taxes on the resulting gain.
- F3This 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).
- F4This option vested 25% on the first, 50% on the second, 75% on the third and 100% on the fourth anniversary of the grant date (05/23/2011).