Max H. Mitchell - May 7, 2021 Form 4 Insider Report for CRANE CO /DE/ (CXT)

Role
President and CEO, Director
Signature
Attorney In Fact, Anthony M. D'Iorio
Stock symbol
CXT
Transactions as of
May 7, 2021
Transactions value $
-$1,346,339
Form type
4
Date filed
5/11/2021, 06:48 PM
Next filing
May 14, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CXT CRANE CO. COMMON, PAR VALUE $1.00 Options Exercise $5.98M +92.3K +40.23% $64.78 322K May 7, 2021 Direct F1
transaction CXT CRANE CO. COMMON, PAR VALUE $1.00 Tax liability -$7.32M -73.8K -22.96% $99.20 248K May 7, 2021 Direct F1
holding CXT CRANE CO. COMMON, PAR VALUE $1.00 2.83K May 7, 2021 401(K) F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CXT Employee Stock Option (Right to Buy) Options Exercise $0 -92.3K -100% $0.00* 0 May 7, 2021 CRANE CO. COMMON, PAR VALUE $1.00 92.3K $64.78 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Mitchell exercised 92,283 stock options, priced at $64.78 and due to expire 01/27/2024, at a market price of $99.20. The resulting after-tax gain was taken in the form of 18,448 shares of Crane Co. Common Stock, resulting in a net increase in Mr. Mitchell's direct holding by that amount, to 247,811 shares. Mr. Mitchell tendered 60,264 shares of previously owned stock to pay the exercise price of the option, and 13,571 shares were withheld to pay taxes on the resulting gain.
F2 Between May 13, 2020 and May 7, 2021, the reporting person acquired 90 shares of the Company's stock through the Company's 401(K) plan.
F3 The options were granted 1/27/2014 with a ten-year term and vested 25% each year over four years.