Crane Co 8-K

What Happened
Crane Company filed an 8-K (Item 5.02) on January 29, 2026 announcing that Alejandro “Alex” Alcala, currently Executive Vice President and Chief Operating Officer, will become President and Chief Executive Officer effective April 27, 2026. Current CEO Max Mitchell will remain on the board and transition to the role of Executive Chairman as of the same date.

Key Details

• Effective date: April 27, 2026. Filing date: January 29, 2026.
• Alex Alcala 2026 compensation: base salary increased to $950,000; target annual cash incentive set at 110% of base salary; 2026 long-term incentive award of $4.15 million (55% performance-based RSUs, 25% stock options, 20% time-based RSUs).
• Max Mitchell 2026 compensation: base salary decreased to $900,000; target annual cash incentive 110% of base salary; 2026 long-term incentive award of $3.25 million (55% PRSUs, 25% stock options, 20% RSUs).
• Vesting: PRSUs vest based on relative total shareholder return over a three-year performance period; stock options and RSUs vest ratably over four years.

Why It Matters
This 8-K outlines a planned CEO succession and corresponding pay changes that could affect executive incentives and alignment with shareholder returns. Investors should note the effective date, the material long-term incentive values and the performance-based structure (relative TSR) that links a majority of awards to company performance over multi-year periods.