4//SEC Filing
ELLIS BRADLEY 4
Accession 0000025445-20-000016
CIK 0000025445other
Filed
Jan 28, 7:00 PM ET
Accepted
Jan 29, 6:36 PM ET
Size
23.0 KB
Accession
0000025445-20-000016
Insider Transaction Report
Form 4
ELLIS BRADLEY
Pres., Merch. Systems Group
Transactions
- Tax Payment
CRANE CO. COMMON, PAR VALUE $1.00
2020-01-25$85.52/sh−190$16,249→ 182,047 total - Tax Payment
CRANE CO. COMMON, PAR VALUE $1.00
2020-01-27$83.58/sh−750$62,685→ 183,596 total - Exercise/Conversion
Restricted Share Unit
2020-01-25−517→ 3,627 total→ CRANE CO. COMMON, PAR VALUE $1.00 (517 underlying) - Award
2020 Performance-Based Restricted Share Unit
2020-01-27+3,589→ 3,589 totalExercise: $83.58→ CRANE CO. COMMON, PAR VALUE $1.00 (3,589 underlying) - Exercise/Conversion
CRANE CO. COMMON, PAR VALUE $1.00
2020-01-25+517→ 182,237 total - Exercise/Conversion
2017 Performance-Based Restricted Share Unit
2020-01-27−3,750→ 0 total→ CRANE CO. COMMON, PAR VALUE $1.00 (3,750 underlying) - Exercise/Conversion
CRANE CO. COMMON, PAR VALUE $1.00
2020-01-27+2,299→ 184,346 total - Award
Restricted Share Unit
2020-01-27+1,077→ 4,704 total→ CRANE CO. COMMON, PAR VALUE $1.00 (1,077 underlying) - Award
Employee Stock Option (Right to Buy)
2020-01-27+13,141→ 13,141 totalExercise: $83.58Exp: 2030-01-27→ CRANE CO. COMMON, PAR VALUE $1.00 (13,141 underlying)
Footnotes (10)
- [F1]On January 25, 2020, 517 Restricted Share Units, which represent the right to receive one share of Crane Co. Common Stock, previously reported as beneficially owned by the reporting person, vested due to the passage of time, and 190 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 327 shares of Crane Co. Common Stock.
- [F10]Assuming the performance conditions specified in footnote 9 are met, the Performance-Based RSUs will vest on December 31, 2022, 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, 2022.
- [F2]Each 2017 Performance-Based RSU granted in January 2017 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, 2017 and ending December 31, 2019. On January 27, 2020, each Performance-Based RSU was converted to the right to receive .613 shares of Common Stock.
- [F3]3,750 Performance-Based RSUs granted in January 2017 were converted on January 27, 2020 into the right to receive 2,299 shares of Common Stock. 750 shares were surrendered to pay taxes on the resulting gain, resulting in a net issuance of 1,549 shares.
- [F4]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 in the event of a change in control of the Company.
- [F5]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 (January 25, 2016), 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 in the event of a change in control of the Company.
- [F6]A Restricted Share Unit is forfeited if the recipient resigns, or employment is terminated, before it has been converted to Common Stock.
- [F7]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 (January 27, 2020), 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.
- [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.
- [F9]Each 2020 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, 2020 and ending December 31, 2022.
Documents
Issuer
CRANE CO /DE/
CIK 0000025445
Entity typeother
Related Parties
1- filerCIK 0001230095
Filing Metadata
- Form type
- 4
- Filed
- Jan 28, 7:00 PM ET
- Accepted
- Jan 29, 6:36 PM ET
- Size
- 23.0 KB