0000025445-21-000014.txt : 20210127
0000025445-21-000014.hdr.sgml : 20210127
20210127182941
ACCESSION NUMBER: 0000025445-21-000014
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210125
FILED AS OF DATE: 20210127
DATE AS OF CHANGE: 20210127
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Alcala Alejandro
CENTRAL INDEX KEY: 0001811642
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-01657
FILM NUMBER: 21561319
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_161179016533383.xml
FORM 4
X0306
4
2021-01-25
0
0000025445
CRANE CO /DE/
CR
0001811642
Alcala Alejandro
100 FIRST STAMFORD PLACE
STAMFORD
CT
06902
0
1
0
0
Senior Vice President
Restricted Share Unit
2021-01-25
4
A
0
1909
0
A
CRANE CO. COMMON, PAR VALUE $1.00
1909.0
4280
D
2018 Performance-Based Restricted Share Unit
2021-01-25
4
D
0
2355
0
D
CRANE CO. COMMON, PAR VALUE $1.00
2355.0
0
D
Employee Stock Option (Right to Buy)
78.59
2021-01-25
4
A
0
7205
0
A
2031-01-25
CRANE CO. COMMON, PAR VALUE $1.00
7205.0
7205
D
2021 Performance-Based Restricted Share Unit
78.59
2021-01-25
4
A
0
3817
0
A
CRANE CO. COMMON, PAR VALUE $1.00
3817.0
3817
D
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 in the event of a change in control of the Company.
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 25, 2021), 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.
Each 2018 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, 2018 and ending December 31, 2020.
Assuming the performance conditions specified in footnote 4 are met, the Performance-Based RSUs will vest on December 31, 2020, 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 2021 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, 2021 and ending December 31, 2023.
Assuming the performance conditions specified in footnote 7 are met, the Performance-Based RSUs will vest on December 31, 2023, 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, 2023.
The 2018 Performance-Based RSUs expired without being converted into shares of Common Stock because the performance vesting conditions were not met.
Attorney In Fact, Anthony M. D'Iorio
2021-01-27