0001225208-16-024841.txt : 20160127
0001225208-16-024841.hdr.sgml : 20160127
20160127172954
ACCESSION NUMBER: 0001225208-16-024841
CONFORMED SUBMISSION TYPE: 3
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20160125
FILED AS OF DATE: 20160127
DATE AS OF CHANGE: 20160127
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
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Lavish James A.
CENTRAL INDEX KEY: 0001664570
FILING VALUES:
FORM TYPE: 3
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-01657
FILM NUMBER: 161366005
MAIL ADDRESS:
STREET 1: 100 FIRST STAMFORD PLACE
CITY: STAMFORD
STATE: CT
ZIP: 06902
3
1
doc3.xml
X0206
3
2016-01-25
0
0000025445
CRANE CO /DE/
CR
0001664570
Lavish James A.
100 FIRST STAMFORD PLACE
STAMFORD
CT
06902-6784
1
VP, CBS, People & Performance
CRANE CO. COMMON, PAR VALUE $1.00
5923.0000
D
CRANE CO. COMMON, PAR VALUE $1.00
37.0000
I
401(K)
CRANE CO. COMMON, PAR VALUE $1.00
1295.0000
I
DRP
2013 Performance-Based Restricted Share Unit
CRANE CO. COMMON, PAR VALUE $1.00
1862.0000
D
2014 Performance-Based Restricted Share Unit
CRANE CO. COMMON, PAR VALUE $1.00
2453.0000
D
2015 Performance-Based Restricted Share Unit
CRANE CO. COMMON, PAR VALUE $1.00
2455.0000
D
Employee Stock Option (Right to Buy)
48.5900
2019-01-28
CRANE CO. COMMON, PAR VALUE $1.00
2600.0000
D
Employee Stock Option (Right to Buy)
50.0300
2018-01-23
CRANE CO. COMMON, PAR VALUE $1.00
2500.0000
D
Employee Stock Option (Right to Buy)
58.4700
2025-01-26
CRANE CO. COMMON, PAR VALUE $1.00
10649.0000
D
Employee Stock Option (Right to Buy)
64.7800
2024-01-27
CRANE CO. COMMON, PAR VALUE $1.00
8353.0000
D
Restricted Share Unit
CRANE CO. COMMON, PAR VALUE $1.00
3501.0000
D
Assuming the performance conditions specified in footnote 2 are met, the Performance-Based RSUs will vest on December 31, 2015, 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.
Each 2013 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 1.75, 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, 2013 and ending December 31, 2015.
Assuming the performance conditions specified in footnote 4 are met, the Performance-Based RSUs will vest on December 31, 2016, 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.
Each 2014 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 1.75, 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, 2014 and ending December 31, 2016.
Assuming the performance conditions specified in footnote 6 are met, the Performance-Based RSUs will vest on December 31, 2017, 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.
Each 2015 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 1.75, 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, 2015 and ending December 31, 2017.
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.
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 , provided the recipient remains employed by the Company; all Restricted Share Units will be converted into shares of Common Stock upon retirement, death, permanent disability, or in the event of a change in control of the Company.
A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock.
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.
Power of Attorney and Confirmation attached
/s/ James A. Lavish
2016-01-27
EX-24
2
poalavish.txt
POWER OF ATTORNEY
Know all by these presents, that the undersigned hereby constitutes and
appoints each of Augustus I. duPont and Christopher Dee, signing singly, the
undersigned's true and lawful attorney-in-fact to:
(1) execute for and on behalf of the undersigned, in the undersigned's capacity
as an officer and/or director of Crane Co. (the "Company"), Forms 3, 4 and 5
in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the
rules thereunder;
(2) do and perform any and all acts for and on behalf of the undersigned which
may be necessary or desirable to complete and execute any such Forms 3, 4, or 5
and timely file such form with the United States Securities and Exchange
Commission and any stock exchange or similar authority; and
(3) take any other action of any type whatsoever in connection with the
foregoing which, in the opinion of such attorney-in-fact, may be of benefit to,
in the best interest of, or legally required by, the undersigned, it being
understood that the documents executed by such attorney-in-fact on behalf of the
undersigned pursuant to this Power of Attorney shall be in such form and shall
contain such terms and conditions as such attorney-in-fact may approve in such
attorney-in-fact's discretion.
The undersigned hereby grants to each such attorney-in-fact full power and
authority to do and perform any and every act and thing whatsoever requisite,
necessary, or proper to be done in the exercise of any of the rights and powers
herein granted, as fully to all intents and purposes as the undersigned might or
could do if personally present, with full power of substitution or revocation,
hereby ratifying and confirming all that such attorney-in-fact, or such
attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be
done by virtue of this power of attorney and the rights and powers herein
granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in
serving in such capacity at the request of the undersigned, are not assuming,
nor is the Company assuming, any of the undersigned's responsibilities to comply
with Section 16 of the Securities Exchange Act of 1934.
The Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4 and 5 with respect to the
undersigned's holdings of and transactions in securities issued by the Company,
unless earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorneys-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
executed as of this 25th day of January, 2016.
/s/ James A. Lavish
James A. Lavish
CONFIRMING STATEMENT
The Statement confirms that the undersigned, James A. Lavish has authorized and
designated Augustus I. duPont and Christopher Dee, signing singly, to execute
and file on undersigned's behalf all Forms 3, 4 and 5 (including any amendments
thereto) that the undersigned may be required to file with the U.S. Securities
and Exchange Commission as a result of the undersigned's ownership of or
transactions in securities of Crane Co. The authority of Augustus I. duPont and
Christopher Dee under this Statement shall continue until the undersigned is
no longer required to file Forms 3, 4 and 5 with regard to the undersigned's
ownership of or transactions in securities of Crane Co., unless earlier revoked
in writing. The undersigned acknowledges that Augustus I. duPont and
Christopher Dee are not assuming any of the undersigned's responsibilities to
comply with Section 16 of the Securities Exchange Act of 1934.
/s/ James A. Lavish
James A. Lavish
Date: January 25, 2016