Max H. Mitchell - May 25, 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 25, 2021
Transactions value $
-$5,210,773
Form type
4
Date filed
5/26/2021, 05:12 PM
Previous filing
May 14, 2021
Next filing
Dec 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 $9.49M +218K +78.43% $43.57 495K May 25, 2021 Direct F1
transaction CXT CRANE CO. COMMON, PAR VALUE $1.00 Tax liability -$14.7M -154K -31.16% $95.20 341K May 25, 2021 Direct F1
holding CXT CRANE CO. COMMON, PAR VALUE $1.00 2.83K May 25, 2021 401(K)

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 -218K -100% $0.00* 0 May 25, 2021 CRANE CO. COMMON, PAR VALUE $1.00 218K $43.57 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Mitchell exercised 217,791 stock options, priced at $43.57 and due to expire 01/25/2026, at a market price of $95.20. The resulting after-tax gain was taken in the form of 63,380 shares of Crane Co. Common Stock, resulting in a net increase in Mr. Mitchell's direct holding by that amount, to 341,076 shares. Mr. Mitchell tendered 99,676 shares of previously owned stock to pay the exercise price of the option, and 54,735 shares were withheld to pay taxes on the resulting gain.
F2 The options were granted 01/25/2016 with a ten-year term and vested 25% each year over four years.