4//SEC Filing
Curran Brendan 4
Accession 0000025445-18-000044
CIK 0000025445other
Filed
Jan 30, 7:00 PM ET
Accepted
Jan 31, 6:51 PM ET
Size
17.0 KB
Accession
0000025445-18-000044
Insider Transaction Report
Form 4
Curran Brendan
Group President, Aerospace
Transactions
- Exercise/Conversion
CRANE CO. COMMON, PAR VALUE $1.00
2018-01-29+6,670→ 16,730 total - Exercise/Conversion
2015 Performance-Based Restricted Share Unit
2018-01-29−3,928→ 0 total→ CRANE CO. COMMON, PAR VALUE $1.00 (3,928 underlying) - Award
Restricted Share Unit
2018-01-29+931→ 3,490 total→ CRANE CO. COMMON, PAR VALUE $1.00 (931 underlying) - Tax Payment
CRANE CO. COMMON, PAR VALUE $1.00
2018-01-29$93.40/sh−1,613$150,654→ 15,117 total - Award
2018 Performance-Based Restricted Share Unit
2018-01-29+3,105→ 3,105 total→ CRANE CO. COMMON, PAR VALUE $1.00 (3,105 underlying) - Award
Employee Stock Option (Right to Buy)
2018-01-29+11,411→ 11,411 totalExercise: $93.40Exp: 2028-01-29→ CRANE CO. COMMON, PAR VALUE $1.00 (11,411 underlying)
Footnotes (8)
- [F1]Each 2015 Performance-Based RSU granted in January 2015 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 companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2015 and ending December 31, 2017. On January 30, 2018, each Performance-Based RSU was converted to the right to receive 1.698 shares of Common Stock.
- [F2]3,928 Performance-Based RSUs granted in January 2015 were converted on January 29, 2018 into the right to receive 6,670 shares of Common Stock, and 1,613 shares were surrendered to pay taxes on the resulting gain.
- [F3]Each 2018 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, 2018 and ending December 31, 2020.
- [F4]Assuming the performance conditions specified in footnote 3 are met, the Performance-Based RSUs will vest on December 31, 2020, if the recipient remains employed by the Company; or has died or become permanently disabled; or has retired at age 65 (or age 62 with ten years of service) subject to a non-competition condition. In the event of a change in control of the Company, the vesting percentage would be determined as of the date of the change in control, although the date of vesting would remain December 31, 2020.
- [F5]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 in certain other circumstances as described in footnote 6
- [F6]25% of the Restricted Share Units granted will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant date, provided the recipient remains employed by the Company, or retires after age 65, or after age 62 with ten years of service; all Restricted Share Units will be converted into shares of Common Stock upon death or permanent disability, or if employment is involuntarily terminated within two years after a change in control of the Company.
- [F7]A Restricted Share Unit is forfeited if the recipient resigns, or employment is terminated, before it has been converted to Common Stock.
- [F8]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.
Documents
Issuer
CRANE CO /DE/
CIK 0000025445
Entity typeother
Related Parties
1- filerCIK 0001578874
Filing Metadata
- Form type
- 4
- Filed
- Jan 30, 7:00 PM ET
- Accepted
- Jan 31, 6:51 PM ET
- Size
- 17.0 KB