CRANE CO /DE/ 4
4 · CRANE CO /DE/ · Filed Apr 25, 2007
Insider Transaction Report
Form 4
LIPNER WILLIAM E
Director
Transactions
- Award
Director Stock Option(Right to Buy)
2007-04-23+2,000→ 2,000 totalExercise: $41.71Exp: 2017-04-23→ CRANE CO. COMMON, PAR VALUE $1.00 (2,000 underlying) - Award
Deferred Stock Units
2007-04-23+899→ 899 totalExercise: $0.00→ CRANE CO. COMMON, PAR VALUE $1.00 (899 underlying)
Holdings
- 7,670
CRANE CO. COMMON, PAR VALUE $1.00
- 181(indirect: DRP)
CRANE CO. COMMON, PAR VALUE $1.00
Footnotes (3)
- [F1]EACH DEFERRED STOCK UNIT REPRESENTS THE RIGHT TO RECEIVE ONE SHARE OF CRANE CO. COMMON STOCK UPON SEPARATION FROM SERVICE ON THE BOARD OF DIRECTORS.
- [F2]FOLLOWING SEPARATION FROM SERVICE ON THE BOARD OF DIRECTORS, THE DIRECTOR WILL RECEIVE ONE SHARE OF CRANE CO. COMMON STOCK FOR EACH DEFERRED STOCK UNIT; IF, HOWEVER, THE DIRECTOR'S SERVICE TERMINATES BEFORE THE FIRST ANNIVERSARY OF THE GRANT, EXCEPT FOR REASONS OF DEATH, DISABILITY, OR A CHANGE IN CONTROL OF CRANE CO., THEN THE RIGHT TO RECEIVE SUCH SHARES WILL EXPIRE.
- [F3]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.