Quick Takeaways
- This page summarizes Max H. Mitchell's Form 4 filing for Crane NXT, Co. (CXT).
- 6 reported transactions and 2 derivative rows are listed below.
- Filing timestamp: 29 Nov 2023, 16:44.
Max H. Mitchell - 27 Nov 2023 Form 4 Insider Report for Crane NXT, Co. (CXT)
- Role
- Director
- Signature
- /s/ Paul G. Igoe, Attorney-in-Fact
- Issuer symbol
- CXT
- Transactions as of
- 27 Nov 2023
- Net transactions value
- -$946,376
- Form type
- 4
- Filing time
- 29 Nov 2023, 16:44:53 UTC
- Previous filing
- 27 Jul 2023
- Next filing
- 01 Dec 2023
- SEC
- View on sec.gov
Quoteable Key Fact
"Max H. Mitchell filed Form 4 for Crane NXT, Co. (CXT) on 29 Nov 2023."
What Changed
- Previous filing in this sequence was filed on 27 Jul 2023.
- Current net transaction value: -$946,376.
Why This Matters
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Official SEC Source
Transactions Table
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CXT | COMMON STOCK | Options Exercise | $1,216,266 | +34,691 | +11% | $35.06 | 357,319 | 27 Nov 2023 | Direct | F1 |
| transaction | CXT | COMMON STOCK | Sale | $1,810,870 | -34,691 | -9.7% | $52.20 | 322,628 | 27 Nov 2023 | Direct | F2, F3 |
| transaction | CXT | COMMON STOCK | Options Exercise | $753,860 | +21,502 | +6.7% | $35.06 | 344,130 | 28 Nov 2023 | Direct | F4 |
| transaction | CXT | COMMON STOCK | Sale | $1,105,633 | -21,502 | -6.2% | $51.42 | 322,628 | 28 Nov 2023 | Direct | F3 |
| holding | CXT | COMMON STOCK | 2,939 | 27 Nov 2023 | 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 | -34,691 | -42% | $0.000000 | 48,502 | 27 Nov 2023 | COMMON STOCK | 34,691 | $35.06 | Direct | F5, F6 |
| transaction | CXT | Employee Stock Option (Right to Buy) | Options Exercise | $0 | -21,502 | -44% | $0.000000 | 27,000 | 28 Nov 2023 | COMMON STOCK | 21,502 | $35.06 | Direct | F5, F6 |
* An asterisk sign (*) next to the price indicates that the price is likely invalid.
Explanation of Responses:
| Id | Content |
|---|---|
| F1 | 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. |
| F2 | 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. |
| F3 | 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. |
| F4 | 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. |
| F5 | 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. |
| F6 | The options were granted 1/29/2018 with a ten-year term and vested 25% each year over four years. |