SEC Form 4 · accession 0001225208-16-038115

Crane NXT, Co. · CXT

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

James A. Lavish

Officer — VP, CBS, People & Performance

Period of report

Aug 16, 2016

Accepted (ET)

Aug 18, 2016 · 5:24 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 $1.00^F1	Aug 16, 2016	M	2,662	$58.47	A	10,658	D
CRANE CO. COMMON, PAR VALUE $1.00^F2	Aug 16, 2016	M	2,500	$50.03	A	13,158	D
CRANE CO. COMMON, PAR VALUE $1.00^F3	Aug 16, 2016	M	1,300	$48.59	A	14,458	D
CRANE CO. COMMON, PAR VALUE $1.00^F3	Aug 16, 2016	F	1,090	$64.30	D	13,368	D
CRANE CO. COMMON, PAR VALUE $1.00^F2	Aug 16, 2016	F	2,133	$64.30	D	11,235	D
CRANE CO. COMMON, PAR VALUE $1.00^F1	Aug 16, 2016	F	2,503	$64.30	D	8,732	D
CRANE CO. COMMON, PAR VALUE $1.00	holding	—	—		—	37	I	401(K)
CRANE CO. COMMON, PAR VALUE $1.00	holding	—	—		—	1,295	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)^F2,F4	$50.03	Aug 16, 2016	M	2,500	D	—	Jan 23, 2018	CRANE CO. COMMON, PAR VALUE $1.00	2,500	0	D
Employee Stock Option (Right to Buy)^F1,F5	$58.47	Aug 16, 2016	M	2,622	D	—	Jan 26, 2025	CRANE CO. COMMON, PAR VALUE $1.00	2,622	8,027	D
Employee Stock Option (Right to Buy)^F3,F6	$48.59	Aug 16, 2016	M	1,300	D	—	Jan 28, 2019	CRANE CO. COMMON, PAR VALUE $1.00	1,300	1,300	D

Explanation of responses

F1Mr. Lavish exercised 2,662 stock options, priced at $58.47 and due to expire January 2025, at a market price of $64.30. The resulting after tax gain was taken in the form of 159 shares of Crane Co. Stock, resulting in a net increase in Mr. Lavish's direct holdings by that amount. Mr. Lavish tendered 2,421 shares of previously owned stock to pay the exercise price of the options, and 82 shares were withheld to pay taxes on the resulting gain.
F2Mr. Lavish exercised 2,500 stock options, priced at $50.03 and due to expire January 2018, at a market price of $64.30. The resulting after tax gain was taken in the form of 367 shares of Crane Co. Stock, resulting in a net increase in Mr. Lavish's direct holdings by that amount. Mr. Lavish tendered 1,946 shares of previously owned stock to pay the exercise price of the options, and 187 shares were withheld to pay taxes on the resulting gain.
F3Mr. Lavish exercised 1,300 stock options, priced at $48.59 and due to expire January 2019, at a market price of $64.30. The resulting after tax gain was taken in the form of 210 shares of Crane Co. Stock, resulting in a net increase in Mr. Lavish's direct holdings by that amount. Mr. Lavish tendered 983 shares of previously owned stock to pay the exercise price of the options, and 107 shares were withheld to pay taxes on the resulting gain.
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 (01/23/2012)
F5The remaining 50% will vest on the third and fourth anniversary of the grant date (01/26/2015).
F6The remaining 25% will vest on the fourth anniversary of the grant date (1/28/2013).