Crane Co director exercises 1,226 deferred units
Crane Co director James L. L. Tullis exercised deferred stock units into common shares.
Rhea-AI Filing Summary
Crane Co director James L. L. Tullis exercised deferred stock units into common shares. On this Form 4, he converted 1,226 Deferred Stock Units into 1,226 shares of common stock at a stated price of $0.00 per share, reflecting a compensation-related settlement rather than a market purchase.
After the transaction, he directly holds 6,035 shares of Crane Co common stock, plus indirect interests of 1 share in an IRA, 414 shares in a 401(k), and 585 shares through a family trust. He also continues to hold 32,124 Deferred Stock Units, which convert into common stock on a one-for-one basis when his board service ends, subject to the plan’s forfeiture conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,226 shares exercised/converted
Exercise
5 txns
Insider
TULLIS JAMES L L
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Deferred Stock Units | 1,226 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,226 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Deferred Stock Units — 32,124 contracts (Direct);
Common Stock — 6,035 shares (Direct);
Common Stock — 585 shares (Indirect, By family trust);
Common Stock — 414 shares (Indirect, 401(K));
Common Stock — 1 shares (Indirect, IRA)
Footnotes (3)
- F1. Pursuant to the April 3, 2023 Separation Agreement between Crane Company and Crane NXT, Co., Mr. Tullis' separation from the Crane NXT, Co. board of directors triggered the settlement of certain of his pre-separation Deferred Stock Units from Crane Company. Mr. Tullis elected to have his remaining pre-separation Crane Company Deferred Stock Units settled on various subsequent dates.
- F2. Deferred Stock Units convert into Crane Company common stock on one-for-one basis upon separation from service on the Board of Directors.
- F3. Deferred Stock Units are forfeited if service terminates before the one-year anniversary of the grant, unless termination results from death or change in control of Crane Company.
Key Figures
Deferred units exercised: 1,226 units/shares
Direct common shares after: 6,035 shares
Deferred Stock Units remaining: 32,124 units
+3 more
6 metrics
Deferred units exercised
1,226 units/shares
Deferred Stock Units converted to common stock on exercise date
Direct common shares after
6,035 shares
Common Stock directly owned following exercise
Deferred Stock Units remaining
32,124 units
Deferred Stock Units outstanding after reported transaction
IRA indirect holding
1 share
Common Stock held indirectly via IRA
401(k) indirect holding
414 shares
Common Stock held indirectly via 401(k) plan
Family trust holding
585 shares
Common Stock held indirectly by family trust
Key Terms
Deferred Stock Units, Separation Agreement, change in control, Board of Directors
4 terms
Deferred Stock Units financial
"Deferred Stock Units convert into Crane Company common stock on one-for-one basis"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
Separation Agreement financial
"Pursuant to the April 3, 2023 Separation Agreement between Crane Company and Crane NXT, Co."
A separation agreement is a written contract that spells out the financial and legal terms when an employee and a company part ways, such as final pay, severance, continued benefits, confidentiality, and any release of claims. For investors, it matters because these agreements determine immediate costs, potential future liabilities, and whether departing staff are restricted from competing or disclosing information—factors that can affect a company’s cash flow, risk profile, and leadership continuity.
change in control financial
"unless termination results from death or change in control of Crane Company"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Board of Directors financial
"upon separation from service on the Board of Directors"
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Crane Co (CR) director James L. L. Tullis report on this Form 4?
Director James L. L. Tullis reported exercising 1,226 Deferred Stock Units into 1,226 shares of Crane Co common stock. This is a compensation-related conversion tied to his board service, not an open-market stock purchase or sale.
What are Deferred Stock Units in the context of Crane Co (CR)?
Deferred Stock Units are compensation awards that convert into Crane Co common stock on a one-for-one basis when board service ends. They can be forfeited if service ends before one year from grant, except in cases like death or a change in control.
How many Deferred Stock Units does James L. L. Tullis still hold at Crane Co?
Following the reported exercise, James L. L. Tullis holds 32,124 Deferred Stock Units. These units are designed to convert into Crane Co common stock one-for-one upon separation from board service, subject to the plan’s forfeiture and vesting conditions.
What indirect Crane Co (CR) holdings does James L. L. Tullis report?
He reports 1 Crane Co common share held in an IRA, 414 shares held in a 401(k) plan, and 585 shares held by a family trust. All of these are classified as indirect ownership interests in the Form 4 data.
AI-generated analysis. How Rhea-AI works. Not financial advice.
