SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Perlitz Thomas J (Last) (First) (Middle) 100 FIRST STAMFORD PLACE (Street) STAMFORD CT 06902-6784 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CRANE CO /DE/ [ CR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) VP Corp Strtgy Grp Pres Cntrls
	3. Date of Earliest Transaction (Month/Day/Year) 01/30/2014
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		M		7,500(1)	A	$31.94	23,024	D
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		M		6,750(2)	A	$43.72	29,774	D
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		M		4,500(3)	A	$50.03	34,274	D
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		M		3,074(4)	A	$48.59	37,348	D
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		F		2,581(4)	D	$63.9	34,767	D
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		F		3,851(3)	D	$63.9	30,916	D
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		F		5,019(1)	D	$63.9	25,897	D
CRANE CO. COMMON, PAR VALUE $1.00	01/30/2014		F		5,340(2)	D	$63.9	20,557	D
CRANE CO. COMMON, PAR VALUE $1.00								2,711	I	401(K)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$50.03	01/30/2014		M			4,500(3)	(5)	01/23/2018	CRANE CO. COMMON, PAR VALUE $1.00	4,500	$0.0000	9,000	D
Employee Stock Option (Right to Buy)	$43.72	01/30/2014		M			6,750(2)	(6)	01/24/2017	CRANE CO. COMMON, PAR VALUE $1.00	6,750	$0.0000	6,750	D
Employee Stock Option (Right to Buy)	$31.94	01/30/2014		M			7,500(1)	(7)	01/25/2016	CRANE CO. COMMON, PAR VALUE $1.00	7,500	$0.0000	0.0000	D
Employee Stock Option (Right to Buy)	$48.59	01/30/2014		M			3,074(4)	(8)	01/28/2019	CRANE CO. COMMON, PAR VALUE $1.00	3,074	$0.0000	9,223	D

Explanation of Responses:

1. Mr. Perlitz exercised 7,500 stock options priced at $31.94, at a market price of $63.90. The resulting after-tax gain was taken in the form of 2,481 shares of Crane Co. Stock, resulting in a net increase in Mr. Perlitz's direct holdings. Mr. Perlitz tendered 3,749 shares of previously owned stock to pay the exercise price of the options, and 1,270 shares were withheld to pay taxes on the resulting gain.

2. Mr. Perlitz exercised 6,750 stock options priced at $43.72, at a market price of $63.90. The resulting after-tax gain was taken in the form of 1,410 shares of Crane Co. Stock, resulting in a net increase in Mr. Perlitz's direct holdings. Mr. Perlitz tendered 4,619 shares of previously owned stock to pay the exercise price of the options, and 721 shares were withheld to pay taxes on the resulting gain.

3. Mr. Perlitz exercised 4,500 stock options priced at $50.03, at a market price of $63.90. The resulting after-tax gain was taken in the form of 649 shares of Crane Co. Stock, resulting in a net increase in Mr. Perlitz's direct holdings. Mr. Perlitz tendered 3,524 shares of previously owned stock to pay the exercise price of the options, and 327 shares were withheld to pay taxes on the resulting gain.

4. Mr. Perlitz exercised 3,074 stock options priced at $48.59, at a market price of $63.90. The resulting after-tax gain was taken in the form of 493 shares of Crane Co. Stock, resulting in a net increase in Mr. Perlitz's direct holdings. Mr. Perlitz tendered 2,338 shares of previously owned stock to pay the exercise price of the options, and 243 shares were withheld to pay taxes on the resulting gain.

5. This option vested 50% on the second anniversary of the grant date (01/23/2012). The remaining 50% will vest on the third and fourth anniversary of the grant date.

6. This option vested 25% on the first, 50% on the second, 75% on the third anniversary of the grant date (01/24/2011). The remaining 25% will vest on the fourth anniversary of the grant date.

7. The remaining 25% vested on the fourth anniversary of the grant date (01/25/2010).

8. This option vested 25% on the first anniversary of the grant date (01/28/2013). The remaining 75% will vest on the second, third and fourth anniversary of the grant date.

	Attorney In Fact, Christopher Dee	02/03/2014
	** Signature of Reporting Person	Date
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