0001225208-16-024889.txt : 20160128
0001225208-16-024889.hdr.sgml : 20160128
20160128100618
ACCESSION NUMBER: 0001225208-16-024889
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20160125
FILED AS OF DATE: 20160128
DATE AS OF CHANGE: 20160128
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: Switter Edward S
CENTRAL INDEX KEY: 0001518975
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-01657
FILM NUMBER: 161366955
MAIL ADDRESS:
STREET 1: 100 FIRST STAMFORD PLACE
CITY: STAMFORD
STATE: CT
ZIP: 06902
4
1
doc4.xml
X0306
4
2016-01-25
0000025445
CRANE CO /DE/
CR
0001518975
Switter Edward S
100 FIRST STAMFORD PLACE
STAMFORD
CT
06902-6784
1
Vice President - Taxes
CRANE CO. COMMON, PAR VALUE $1.00
2016-01-25
4
M
0
2062.0000
0.0000
A
14163.0000
D
CRANE CO. COMMON, PAR VALUE $1.00
2016-01-25
4
F
0
808.0000
43.5700
D
13355.0000
D
CRANE CO. COMMON, PAR VALUE $1.00
1198.0000
I
401(K)
2013 Performance-Based Restricted Share Unit
2016-01-25
4
M
0
2384.0000
0.0000
D
CRANE CO. COMMON, PAR VALUE $1.00
2384.0000
0.0000
D
2016 Performance-Based Restricted Share Unit
2016-01-25
4
A
0
2413.0000
0.0000
A
CRANE CO. COMMON, PAR VALUE $1.00
2413.0000
2413.0000
D
Employee Stock Option (Right to Buy)
43.5700
2016-01-25
4
A
0
12347.0000
0.0000
A
2026-01-25
CRANE CO. COMMON, PAR VALUE $1.00
12347.0000
12347.0000
D
Restricted Share Unit
2016-01-25
4
A
0
792.0000
0.0000
A
CRANE CO. COMMON, PAR VALUE $1.00
792.0000
2131.0000
D
Each 2013 Performance-Based RSU granted in January 2013 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 the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2013 and ending December 31, 2015. On January 25, 2016, each Performance-Based RSU was converted to the right to receive 0.865 shares of Common Stock.
2,384 Performance-Based RSUs granted in January 2013 were converted on January 25, 2016 into the right to receive 2,062 shares of Common Stock, and 808 shares were surrendered to pay taxes on the resulting gain.
Each 2016 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, 2016 and ending December 31, 2018.
Assuming the performance conditions specified in footnote 3 are met, the Performance-Based RSUs will vest on December 31, 2018, 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 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 termination following a change in control of the Company.
25% of the Restricted Share Units 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 termination following 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.
Attorney In Fact, Christopher Dee
2016-01-27