0000025445-20-000010.txt : 20200129 0000025445-20-000010.hdr.sgml : 20200129 20200129182604 ACCESSION NUMBER: 0000025445-20-000010 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200125 FILED AS OF DATE: 20200129 DATE AS OF CHANGE: 20200129 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SALOVAARA KRISTIAN ROBERT CENTRAL INDEX KEY: 0001373822 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-01657 FILM NUMBER: 20559336 MAIL ADDRESS: STREET 1: C/O AMERICAN HOME MORTGAGE STREET 2: 538 BROADHOLLOW ROAD CITY: MELVILLE STATE: NY ZIP: 11747 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 4 1 wf-form4_158034034685671.xml FORM 4 X0306 4 2020-01-25 0 0000025445 CRANE CO /DE/ CR 0001373822 SALOVAARA KRISTIAN ROBERT 100 FIRST STAMFORD PLACE STAMFORD CT 06902-6784 0 1 0 0 VP, Business Development CRANE CO. COMMON, PAR VALUE $1.00 2020-01-25 4 M 0 431 0 A 26087 D CRANE CO. COMMON, PAR VALUE $1.00 2020-01-25 4 F 0 170 85.52 D 25917 D CRANE CO. COMMON, PAR VALUE $1.00 2020-01-27 4 M 0 1916 0 A 27833 D CRANE CO. COMMON, PAR VALUE $1.00 2020-01-27 4 F 0 691 83.58 D 27142 D Restricted Share Unit 2020-01-25 4 M 0 431 0 D CRANE CO. COMMON, PAR VALUE $1.00 431.0 2059 D Restricted Share Unit 2020-01-27 4 A 0 897 0 A CRANE CO. COMMON, PAR VALUE $1.00 897.0 2956 D 2017 Performance-Based Restricted Share Unit 2020-01-27 4 M 0 3125 0 D CRANE CO. COMMON, PAR VALUE $1.00 3125.0 0 D Employee Stock Option (Right to Buy) 83.58 2020-01-27 4 A 0 10951 0 A 2030-01-27 CRANE CO. COMMON, PAR VALUE $1.00 10951.0 10951 D 2020 Performance-Based Restricted Share Unit 83.58 2020-01-27 4 A 0 2991 0 A CRANE CO. COMMON, PAR VALUE $1.00 2991.0 2991 D On January 25, 2020, 431 Restricted Share Units, each of which represent the right to receive one share of Crane Co. Common Stock, previously reported as beneficially owned by the reporting person, vested due to the passage of time, and 170 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 261 shares of Crane Co. Common Stock. Each 2017 Performance-Based RSU granted in January 2017 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 companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2017 and ending December 31, 2019. On January 27, 2020, each Performance-Based RSU was converted to the right to receive .613 shares of Common Stock. 3,125 Performance-Based RSUs granted in January 2017 were converted on January 27, 2020 into the right to receive 1,916 shares of Common Stock. 691 shares were surrendered to pay taxes on the resulting gain, resulting in a net issuance of 1,225 shares. 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. 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 date (January 25, 2016), 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 resigns, or employment is terminated, before it has been converted to Common Stock. 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 date (January 27, 2020), provided the recipient remains employed by the Company, or retires after age 65, or after age 62 with ten years of service; all Restricted Share Units will be converted into shares of Common Stock upon death or permanent disability, or if employment is involuntarily terminated within two years after 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 2020 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, 2020 and ending December 31, 2022. Assuming the performance conditions specified in footnote 9 are met, the Performance-Based RSUs will vest on December 31, 2022, if the recipient remains employed by the Company; or has died or become permanently disabled; or has retired at age 65 (or age 62 with ten years of service) subject to a non-competition condition. In the event of a change in control of the Company, the vesting percentage would be determined as of the date of the change in control, although the date of vesting would remain December 31, 2022. Attorney In Fact, Anthony M. D'Iorio 2020-01-29