0000025445-20-000004.txt : 20200129
0000025445-20-000004.hdr.sgml : 20200129
20200129181732
ACCESSION NUMBER: 0000025445-20-000004
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200127
FILED AS OF DATE: 20200129
DATE AS OF CHANGE: 20200129
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: MITCHELL MAX H
CENTRAL INDEX KEY: 0001283695
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-01657
FILM NUMBER: 20559318
MAIL ADDRESS:
STREET 1: CRANE CO
STREET 2: 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_158033983422405.xml
FORM 4
X0306
4
2020-01-27
0
0000025445
CRANE CO /DE/
CR
0001283695
MITCHELL MAX H
100 FIRST STAMFORD PLACE
STAMFORD
CT
06902-6784
1
1
0
0
President and CEO
CRANE CO. COMMON, PAR VALUE $1.00
2020-01-27
4
M
0
17471
0
A
234197
D
CRANE CO. COMMON, PAR VALUE $1.00
2020-01-27
4
F
0
6334
83.58
D
227863
D
2017 Performance-Based Restricted Share Unit
2020-01-27
4
M
0
28500
0
D
CRANE CO. COMMON, PAR VALUE $1.00
28500.0
0
D
Employee Stock Option (Right to Buy)
83.58
2020-01-27
4
A
0
118273
0
A
2030-01-27
CRANE CO. COMMON, PAR VALUE $1.00
118273.0
118273
D
2020 Performance-Based Restricted Share Unit
2020-01-27
4
A
0
33920
0
A
CRANE CO. COMMON, PAR VALUE $1.00
33920.0
33920
D
Each 2017 Performance-Based RSU granted in January 2017 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 companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2017 and ending December 31, 2019. On January 27, 2020, each Performance-Based RSU was converted to the right to receive .613 shares of Common Stock.
28,500 Performance-Based RSUs granted in January 2017 were converted on January 27, 2020 into the right to receive 17,471 shares of Common Stock. 6,334 shares were surrendered to pay taxes on the resulting gain, resulting in a net issuance of 11,137 shares.
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 2020 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, 2020 and ending December 31, 2022.
Assuming the performance conditions specified in footnote 4 are met, the Performance-Based RSUs will vest on December 31, 2022, 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, 2022
Attorney In Fact, Anthony M. D'Iorio
2020-01-29