0000025445-19-000032.txt : 20190130
0000025445-19-000032.hdr.sgml : 20190130
20190130211525
ACCESSION NUMBER: 0000025445-19-000032
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: SALOVAARA KRISTIAN ROBERT
CENTRAL INDEX KEY: 0001373822
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-01657
FILM NUMBER: 19553477
MAIL ADDRESS:
STREET 1: C/O AMERICAN HOME MORTGAGE
STREET 2: 538 BROADHOLLOW ROAD
CITY: MELVILLE
STATE: NY
ZIP: 11747
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_154890087446627.xml
FORM 4
X0306
4
2019-01-28
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
2019-01-28
4
M
0
9738
0
A
28689
D
CRANE CO. COMMON, PAR VALUE $1.00
2019-01-28
4
F
0
3332
79.14
D
25357
D
2019 Performance-Based Restricted Share Unit
79.14
2019-01-28
4
A
0
3159
0
A
CRANE CO. COMMON, PAR VALUE $1.00
3159.0
3159
D
Restricted Share Unit
2019-01-28
4
A
0
948
0
A
CRANE CO. COMMON, PAR VALUE $1.00
948.0
2944
D
Employee Stock Option (Right to Buy)
79.14
2019-01-28
4
A
0
11803
79.14
A
2029-01-28
CRANE CO. COMMON, PAR VALUE $1.00
11803.0
11803
D
2016 Performance-Based Restricted Share Unit
2019-01-28
4
M
0
5247
0
D
CRANE CO. COMMON, PAR VALUE $1.00
5247.0
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.
5,247 Performance-Based RSUs granted in January 2016 were converted on January 28, 2019 into the right to receive 9,738 shares of Common Stock. 3,332 shares were surrendered to pay taxes on the resulting gain, resulting in a net issuance of 6,406 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.
Atttorney In Fact, Alishba Kassim
2019-01-30