SEC Form 4 · accession 0001225208-16-037509
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard A Maue
Officer — V.P. Finance & CFO
Period of report
Aug 2, 2016
Accepted (ET)
Aug 4, 2016 · 4:57 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 | Aug 2, 2016 | M | 20,000 | $43.72 | A | 51,236 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Aug 2, 2016 | M | 16,455 | $50.03 | A | 67,691 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Aug 2, 2016 | F | 14,410 | $62.88 | D | 53,281 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Aug 2, 2016 | F | 15,969 | $62.88 | D | 37,312 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00 | holding | — | — | — | 1,528 | 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)F2,F3 | $50.03 | Aug 2, 2016 | M | 16,455 | D | — | Jan 23, 2018 | CRANE CO. COMMON, PAR VALUE $1.00 | 16,455 | 6,545 | D |
| Employee Stock Option (Right to Buy)F1,F4 | $43.72 | Aug 2, 2016 | M | 20,000 | D | — | Jan 24, 2017 | CRANE CO. COMMON, PAR VALUE $1.00 | 20,000 | 0 | D |
Explanation of responses
- F1Mr. Maue exercised 20,000 stock options, priced at $43.72 and due to expire January 2017, at a market price of $62.88. The resulting after tax gain was taken in the form of 4,031 shares of Crane Co. Stock, resulting in a net increase in Mr. Maue's direct holdings by that amount, to 35,267 shares. Mr. Maue tendered 13,906 shares of previously owned stock to pay the exercise price of the options, and 2,063 shares were withheld to pay taxes on the resulting gain.
- F2Mr. Maue exercised 16,455 stock options, priced at $50.03 and due to expire January 2018, at a market price of $62.88. The resulting after tax gain was taken in the form of 2,045 shares of Crane Co. Stock, resulting in a net increase in Mr. Maue's direct holdings by that amount, to 37,312 shares. Mr. Maue tendered 13,093 shares of previously owned stock to pay the exercise price of the options, and 1,317 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 (01/23/2012).
- 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 (01/24/2011).