0000025445-23-000122.txt : 20231129
0000025445-23-000122.hdr.sgml : 20231129
20231129164453
ACCESSION NUMBER: 0000025445-23-000122
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20231127
FILED AS OF DATE: 20231129
DATE AS OF CHANGE: 20231129
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: 231452953
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 NXT, Co.
CENTRAL INDEX KEY: 0000025445
STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
IRS NUMBER: 880706021
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: CRANE NXT, CO.
STREET 2: 950 WINTER STREET, 4TH FLOOR
CITY: WALTHAM
STATE: MA
ZIP: 02451
BUSINESS PHONE: 203-363-7300
MAIL ADDRESS:
STREET 1: CRANE NXT, CO.
STREET 2: 950 WINTER STREET, 4TH FLOOR
CITY: WALTHAM
STATE: MA
ZIP: 02451
FORMER COMPANY:
FORMER CONFORMED NAME: Crane Holdings, Co.
DATE OF NAME CHANGE: 20220527
FORMER COMPANY:
FORMER CONFORMED NAME: CRANE CO /DE/
DATE OF NAME CHANGE: 19920703
4
1
wk-form4_1701294283.xml
FORM 4
X0508
4
2023-11-27
0
0000025445
Crane NXT, Co.
CXT
0001283695
MITCHELL MAX H
950 WINTER STREET 4TH FLOOR
WALTHAM
MA
02451
1
0
0
0
0
COMMON STOCK
2023-11-27
4
M
0
34691
35.06
A
357319
D
COMMON STOCK
2023-11-27
4
S
0
34691
52.20
D
322628
D
COMMON STOCK
2023-11-28
4
M
0
21502
35.06
A
344130
D
COMMON STOCK
2023-11-28
4
S
0
21502
51.42
D
322628
D
COMMON STOCK
2939
I
401(K)
Employee Stock Option (Right to Buy)
35.06
2023-11-27
4
M
0
34691
0
D
2028-01-29
COMMON STOCK
34691
48502
D
Employee Stock Option (Right to Buy)
35.06
2023-11-28
4
M
0
21502
0
D
2028-01-29
COMMON STOCK
21502
27000
D
Mr. Mitchell exercised and sold 34,691 stock options at a weighted average price of $52.20 to better diversify his investment portfolio, which is largely comprised of Crane NXT stock. Following this exercise and sale, Mr. Mitchell's direct ownership level remains unchanged at 322,628 shares of Crane NXT stock.
Weighted average price at which shares were sold at prices ranging from $52.07 to $52.31. The reporting person undertakes to provide, upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
The Company's stock ownership guidelines for non-employee directors require Mr. Mitchell to maintain a minimum ownership level of at least five times the cash portion of his annual retainer received as a director. After giving effect to the exercise and sale, Mr. Mitchell continues to beneficially own more than 100 times the cash portion of his annual retainer in issuer stock.
Mr. Mitchell exercised and sold 21,502 stock options at a price of $51.42 to better diversify his investment portfolio, which is largely comprised of Crane NXT stock. Following this exercise and sale, Mr. Mitchell's direct ownership level remains unchanged at 322,628 shares of Crane NXT stock.
Pursuant to the terms of the spin-off of Crane Company from the issuer on April 3, 2023 (the "Separation"), the exercise price of all employee stock options issued by the issuer that were held by employees of the issuer, including the reporting person, and outstanding immediately prior to the consummation of the Separation, were adjusted. The adjustment was intended to maintain the intrinsic value of the employee stock option of the issuer immediately before and after the consummation of the Separation. This exercise price reflects such adjustment.
The options were granted 1/29/2018 with a ten-year term and vested 25% each year over four years.
/s/ Paul G. Igoe, Attorney-in-Fact
2023-11-29