LIPNER WILLIAM E 4

4 · CRANE CO /DE/ · Filed Apr 22, 2009

Form 4

Period: 2009-04-20

Director

Transactions

Award
Deferred Stock Units
2009-04-20+66→ 5,816 total
Exercise: $0.00→ CRANE CO. COMMON, PAR VALUE $1.00 (66 underlying)
Other
CRANE CO. COMMON, PAR VALUE $1.00
2009-04-20+9→ 252 total(indirect: DRP)
Award
Director Stock Option(Right to Buy)
2009-04-20+2,000→ 2,000 total
Exercise: $18.87Exp: 2019-04-20→ CRANE CO. COMMON, PAR VALUE $1.00 (2,000 underlying)
Award
Deferred Stock Units
2009-04-20+3,975→ 5,750 total
Exercise: $0.00→ CRANE CO. COMMON, PAR VALUE $1.00 (3,975 underlying)

Holdings

Footnotes (5)

[F1]Between April 1, 2008 and March 31, 2009, the reporting person acquired an aggregate of 9 shares of common stock at prevailing market prices through the issuer's Dividend Reinvestment Plan.
[F2]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.
[F3]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; however, if the Director's service terminates before the first anniversary of the Grant, except for reasons of death, or a change in control of Crane Co., then the right to receive such shares will expire.
[F4]Additional Deferred Stock Units are granted during the year to coincide with payment of dividends of Crane Co. stock.
[F5]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

1 file