0000025445-19-000024.txt : 20190130 0000025445-19-000024.hdr.sgml : 20190130 20190130210030 ACCESSION NUMBER: 0000025445-19-000024 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190128 FILED AS OF DATE: 20190130 DATE AS OF CHANGE: 20190130 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Lavish James A. CENTRAL INDEX KEY: 0001664570 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-01657 FILM NUMBER: 19553463 MAIL ADDRESS: STREET 1: 100 FIRST STAMFORD PLACE CITY: STAMFORD STATE: CT ZIP: 06902 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 4 1 wf-form4_154890000487633.xml FORM 4 X0306 4 2019-01-28 0 0000025445 CRANE CO /DE/ CR 0001664570 Lavish James A. 100 FIRST STAMFORD PLACE STAMFORD CT 06902-6784 0 1 0 0 VP, CBS, People & Performance CRANE CO. COMMON, PAR VALUE $1.00 2019-01-28 4 M 0 7790 0 A 23040 D CRANE CO. COMMON, PAR VALUE $1.00 2019-01-28 4 F 0 2438 79.14 D 20602 D 2019 Performance-Based Restricted Share Unit 79.14 2019-01-28 4 A 0 2527 0 A CRANE CO. COMMON, PAR VALUE $1.00 2527.0 2527 D Restricted Share Unit 2019-01-28 4 A 0 758 0 A CRANE CO. COMMON, PAR VALUE $1.00 758.0 2409 D Employee Stock Option (Right to Buy) 79.14 2019-01-28 4 A 0 8866 0 A 2029-01-28 CRANE CO. COMMON, PAR VALUE $1.00 8866.0 8866 D 2016 Performance-Based Restricted Share Unit 2019-01-28 4 M 0 4197 0 D CRANE CO. COMMON, PAR VALUE $1.00 4197.0 0 D Each 2016 Performance-Based RSU granted in January 2016 represented a contingent right to receive a number of shares of Crane Co. Common Stock between zero and 2.00 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, 2016 and ending December 31, 2018. On January 28, 2019, each Performance-Based RSU was converted to the right to receive 1.856 shares of Common Stock. 4,197 Performance-Based RSUs granted in January 2016 were converted on January 28, 2019 into the right to receive 7,790 shares of Common Stock. 2,438 shares were surrendered to pay taxes on the resulting gain, resulting in a net issuance 5,352 shares. Each 2019 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, 2019 and ending December 31, 2021. Assuming the performance conditions specified in footnote 3 are met, the Performance-Based RSUs will vest on December 31, 2021, 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, 2021. 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 in certain other circumstances as described in footnote 6. 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 28, 2019) 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. A Restricted Share Unit is forfeited if the recipient resigns, or employment is terminated, before it has been converted to Common Stock. 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. Attorney In Fact, Alishba Kassim 2019-01-30