0000025445-17-000065.txt : 20170201 0000025445-17-000065.hdr.sgml : 20170201 20170201182611 ACCESSION NUMBER: 0000025445-17-000065 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170130 FILED AS OF DATE: 20170201 DATE AS OF CHANGE: 20170201 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: CRANE CO /DE/ CENTRAL INDEX KEY: 0000025445 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FABRICATED METAL PRODUCTS [3490] IRS NUMBER: 131952290 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: CRANE CO. STREET 2: 100 FIRST STAMFORD PLACE CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 203-363-7300 MAIL ADDRESS: STREET 1: CRANE CO. STREET 2: 100 FIRST STAMFORD PLACE CITY: STAMFORD STATE: CT ZIP: 06902 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SALOVAARA KRISTIAN ROBERT CENTRAL INDEX KEY: 0001373822 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-01657 FILM NUMBER: 17566192 MAIL ADDRESS: STREET 1: C/O AMERICAN HOME MORTGAGE STREET 2: 538 BROADHOLLOW ROAD CITY: MELVILLE STATE: NY ZIP: 11747 4 1 wf-form4_148599155811208.xml FORM 4 X0306 4 2017-01-30 0 0000025445 CRANE CO /DE/ CR 0001373822 SALOVAARA KRISTIAN ROBERT 100 FIRST STAMFORD PLACE STAMFORD CT 06902-6784 0 1 0 0 VP, Business Development CRANE CO. COMMON, PAR VALUE $1.00 2017-01-30 4 M 0 4718 0 A 11275 D CRANE CO. COMMON, PAR VALUE $1.00 2017-01-30 4 F 0 1995 73.90 D 9280 D CRANE CO. COMMON, PAR VALUE $1.00 2017-01-30 4 J 0 10 0 A 427 I 401(K) 2014 Performance-Based Restricted Share Unit 2017-01-30 4 M 0 4088 0 D CRANE CO. COMMON, PAR VALUE $1.00 4088.0 0 D 2017 Performance-Based Restricted Share Unit 2017-01-30 4 A 0 3125 0 A CRANE CO. COMMON, PAR VALUE $1.00 3125.0 3125 D Employee Stock Option (Right to Buy) 73.9 2017-01-30 4 A 0 13482 0 A 2027-01-30 CRANE CO. COMMON, PAR VALUE $1.00 13482.0 13482 D Restricted Share Unit 2017-01-30 4 A 0 1015 0 A CRANE CO. COMMON, PAR VALUE $1.00 1015.0 4010 D Each 2014 Performance-Based RSU granted in January 2014 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 the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2014 and ending December 31, 2016. On January 30, 2016, each Performance-Based RSU was converted to the right to receive 115.4 shares of Common Stock. 4,088 Performance-Based RSUs granted in January 2014 were converted on January 30, 2017 into the right to receive 4,718 shares of Common Stock, 1,995 shares were surrendered to pay taxes on the resulting gain. Between January 1, 2016 and December 31,2016, Mr. Salovaara acquired an aggregate of 10 shares of common stock at prevailing market prices through the issuer's 401(K) plan. Each 2017 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, 2017 and ending December 31, 2019. Assuming the performance conditions specified in footnote 4 are met, the Performance-Based RSUs will vest on December 31, 2019, provided the recipient remains employed by the Company; or upon the recipient's earlier retirement, death or permanent disability; or upon a change in control of the Company. 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. 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 termination following a change in control of the Company. 25% of the Restricted Share Units will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant, 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 termination following a change in control of the Company. A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock. Attorney In Fact, Christopher Dee 2017-02-01