4//SEC Filing
CRANE CO /DE/ 4
Accession 0000025445-17-000053
$CXTCIK 0000025445operating
Filed
Jan 31, 7:00 PM ET
Accepted
Feb 1, 6:07 PM ET
Size
18.6 KB
Accession
0000025445-17-000053
Insider Transaction Report
Form 4
Craney Thomas J
Group Pres., Eng. Materials
Transactions
- Award
Restricted Share Unit
2017-01-30+609→ 2,344 total→ CRANE CO. COMMON, PAR VALUE $1.00 (609 underlying) - Other
CRANE CO. COMMON, PAR VALUE $1.00
2017-01-30+34→ 1,541 total(indirect: By 401(k)) - Award
Employee Stock Option (Right to Buy)
2017-01-30+8,089→ 8,089 totalExercise: $73.90Exp: 2027-01-30→ CRANE CO. COMMON, PAR VALUE $1.00 (8,089 underlying) - Exercise/Conversion
2014 Performance-Based Restricted Share Unit
2017-01-30−3,188→ 0 total→ CRANE CO. COMMON, PAR VALUE $1.00 (3,188 underlying) - Exercise/Conversion
CRANE CO. COMMON, PAR VALUE $1.00
2017-01-30+3,679→ 20,450 total - Tax Payment
CRANE CO. COMMON, PAR VALUE $1.00
2017-01-30$73.90/sh−1,212$89,567→ 19,238 total - Award
2017 Performance-Based Restricted Share Unit
2017-01-30+1,875→ 1,875 total→ CRANE CO. COMMON, PAR VALUE $1.00 (1,875 underlying)
Footnotes (9)
- [F1]Each 2014 Performance-Based RSU granted in January 2014 represented a contingent right to receive a number of shares of Crane Co. Common Stock between zero and 1.75 to be determined with reference to the Total Shareholder Return of Crane Co.'s Common Stock compared to that of the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2014 and ending December 31, 2016. On January 30, 2016, each Performance-Based RSU was converted to the right to receive 115.4 shares of Common Stock.
- [F2]3,188 Performance-Based RSUs granted in January 2014 were converted on January 30, 2017 into the right to receive 3,679 shares of Common Stock, 1,212 shares were surrendered to pay taxes on the resulting gain.
- [F3]Between January 1, 2016 and December 31,2016, Mr. Craney acquired an aggregate of 34 shares of common stock at prevailing market prices through the issuer's 401(K) plan.
- [F4]Each 2017 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 2.00, depending upon the Total Shareholder Return of Crane Co.'s common stock compared to that of the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2017 and ending December 31, 2019.
- [F5]Assuming the performance conditions specified in footnote 4 are met, the Performance-Based RSUs will vest on December 31, 2019, provided the recipient remains employed by the Company; or upon the recipient's earlier retirement, death or permanent disability; or upon a change in control of the Company.
- [F6]Options become exercisable 25% on the first anniversary, 50% on the second anniversary, 75% on the third anniversary and 100% on the fourth anniversary of the date of grant.
- [F7]Each Restricted Share Unit represents the right to receive one share of Crane Co. Common Stock if the recipient remains employed by the Company upon expiration of the time-based restrictions, or upon retirement, death, permanent disability or termination following a change in control of the Company.
- [F8]25% of the Restricted Share Units will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant, provided the recipient remains employed by the Company; all Restricted Share Units will be converted into shares of Common Stock upon retirement, death, permanent disability, or termination following a change in control of the Company.
- [F9]A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock.
Documents
Issuer
CRANE CO /DE/
CIK 0000025445
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000025445
Filing Metadata
- Form type
- 4
- Filed
- Jan 31, 7:00 PM ET
- Accepted
- Feb 1, 6:07 PM ET
- Size
- 18.6 KB