SEC Form 4 · accession 0001225208-16-037552
Crane NXT, Co. · CXT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bradley Ellis
Officer — Senior Vice President
Period of report
Aug 3, 2016
Accepted (ET)
Aug 5, 2016 · 5:32 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 3, 2016 | M | 13,500 | $43.72 | A | 163,771 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Aug 3, 2016 | M | 7,500 | $46.52 | A | 171,271 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F2 | Aug 3, 2016 | F | 6,322 | $63.09 | D | 164,949 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Aug 3, 2016 | F | 10,738 | $63.09 | D | 154,211 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00 | holding | — | — | — | 6,814 | I | 401(K) | |
| CRANE CO. COMMON, PAR VALUE $1.00 | holding | — | — | — | 2,774 | I | DRP |
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 | Aug 3, 2016 | M | 13,500 | D | — | Jan 24, 2017 | CRANE CO. COMMON, PAR VALUE $1.00 | 13,500 | 0 | D |
| Employee Stock Option (Right to Buy)F2,F4 | $46.52 | Aug 3, 2016 | M | 7,500 | D | — | May 23, 2017 | CRANE CO. COMMON, PAR VALUE $1.00 | 7,500 | 0 | D |
Explanation of responses
- F1Mr. Ellis exercised 13,500 stock options, priced at $43.72 and due to expire January 2017, at a market price of $63.09. The resulting after tax gain was taken in the form of 2,762 shares of Crane Co. Stock, resulting in a net increase in Mr. Ellis's direct holdings by that amount, to 154,211 shares. Mr. Ellis tendered 9,356 shares of previously owned stock to pay the exercise price of the options, and 1,382 shares were withheld to pay taxes on the resulting gain.
- F2Mr. Ellis exercised 7,500 stock options, priced at $46.52 and due to expire May 2017, at a market price of $63.09. The resulting after tax gain was taken in the form of 1,178 shares of Crane Co. Stock, resulting in a net increase in Mr. Ellis's direct holdings by that amount. Mr. Ellis tendered 5,531 shares of previously owned stock to pay the exercise price of the options, and 791 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).