Sec Form 4 Filing - Gallo Kurt F. @ CRANE CO /DE/ - 2020-01-28

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Gallo Kurt F.
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)
Sr. VP, Payment & Merch. Tech.
(Last) (First) (Middle)
100 FIRST STAMFORD PLACE
3. Date of Earliest Transaction (MM/DD/YY)
01/28/2020
(Street)
STAMFORD, CT06902
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 01/28/2020 M 213 ( 1 ) A $ 0 1,924 D
CRANE CO. COMMON, PAR VALUE $1.00 01/28/2020 F 59 ( 1 ) D $ 85.39 1,865 D
CRANE CO. COMMON, PAR VALUE $1.00 01/29/2020 M 169 ( 2 ) A $ 0 2,034 D
CRANE CO. COMMON, PAR VALUE $1.00 01/29/2020 F 47 ( 2 ) D $ 86.54 1,987 D
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Restricted Share Unit ( 3 ) 01/28/2020 M 213 ( 1 ) ( 3 ) ( 4 ) CRANE CO. COMMON, PAR VALUE $1.00 213 $ 0 5,105 D
Restricted Share Unit ( 5 ) 01/29/2020 M 169 ( 2 ) ( 5 ) ( 4 ) CRANE CO. COMMON, PAR VALUE $1.00 169 $ 0 4,936 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Gallo Kurt F.
100 FIRST STAMFORD PLACE
STAMFORD, CT06902
Sr. VP, Payment & Merch. Tech.
Signatures
Attorney In Fact, Anthony M. D'Iorio 01/30/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On January 28, 2020, 213 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 59 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 154 shares of Crane Co. Common Stock.
( 2 )On January 29, 2020, 169 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 47 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 122 shares of Crane Co. Common Stock.
( 3 )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 28, 2019), 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.
( 4 )A Restricted Share Unit is forfeited if the recipient resigns, or employment is terminated, before it has been converted to Common Stock.
( 5 )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 29, 2018), 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.

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