SEC Form 4 · accession 0001225208-16-038420
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
Aug 25, 2016
Accepted (ET)
Aug 26, 2016 · 5:21 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 25, 2016 | M | 23,000 | $50.03 | A | 117,217 | D | |
| CRANE CO. COMMON, PAR VALUE $1.00F1 | Aug 25, 2016 | F | 20,120 | $65.17 | D | 97,097 | 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 | $50.03 | Aug 25, 2016 | M | 23,000 | D | — | Jan 23, 2018 | CRANE CO. COMMON, PAR VALUE $1.00 | 23,000 | 0 | D |
Explanation of responses
- F1Mr. duPont exercised 23,000 stock options, priced at $50.03 and due to expire January 2018, at a market price of $65.17. The resulting after tax gain was taken in the form of 2,880 shares of Crane Co. Stock, resulting in a net increase in Mr. duPont's direct holdings by that amount, to 97,097 shares. Mr. duPont tendered 17,657 shares of previously owned stock to pay the exercise price of the options, and 2,463 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 (01/23/2012).