Jeffrey Benck joins Crane NXT (CXT) board as James L.L. Tullis plans exit
Rhea-AI Filing Summary
Crane NXT, Co. reported changes to its Board of Directors. On March 9, 2026, the Board appointed Jeffrey Benck as a director, effective immediately, with his term expiring at the next Annual Meeting, where he has been nominated for election.
Benck’s pay will follow the existing non‑employee director compensation program on a prorated basis, and he will enter into the company’s standard indemnification agreement. The company stated there were no arrangements leading to his election and no related‑party transactions requiring disclosure.
On March 6, 2026, current director James L.L. Tullis notified the Board that he will not stand for reelection at the 2026 Annual Meeting and will leave the Board at its conclusion on May 21, 2026.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 9, 2026, the Board of Directors (the “Board”) of Crane NXT, Co. (the “Company”) appointed Jeffrey Benck to serve as a director of the Board, effective immediately, for a term expiring at the next Annual Meeting and until his successor is duly elected and qualified. The Company has nominated Mr. Benck for election to the Board at the 2026 Annual Meeting of Stockholders (the “Annual Meeting”).
Mr. Benck’s compensation will be consistent with the Company’s previously disclosed director compensation program for non-employee directors, which is described in the Company’s most recent proxy statement filed with the Securities and Exchange Commission on April 8, 2025, under the heading “Director Compensation Program” (as such program has been updated from time to time). Mr. Benck’s compensation will be prorated to reflect the commencement date of his Board service. In addition, the Company and Mr. Benck will enter into an indemnification agreement substantially in the form filed as Exhibit 10(iii)(g) to the Company's Annual Report on Form 10-K for the period ended December 31, 2025.
There were no arrangements or understandings pursuant to which Mr. Benck was elected as director, and there are no related party transactions between the Company and Mr. Benck that would be reportable under Item 404(a) of Regulation S-K.
On March 6, 2026, James L.L. Tullis, a current director of the Board, notified the Board that he will not stand for reelection at the Company’s 2026 Annual Meeting. Accordingly, Mr. Tullis will cease to serve as a director of the Company at the conclusion of the Annual Meeting scheduled for May 21, 2026.
A copy of the Company’s press release announcing the appointment of Mr. Benck to, and the departure of Mr. Tullis from, the Board is attached hereto as Exhibit 99.1.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
| Exhibit No. | Description of Exhibit |
| 99.1 | Press Release dated March 12, 2026, issued by Crane NXT, Co. |
| 101 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
March 12, 2026
| CRANE NXT, CO. | ||
| By: | /s/ Paul G. Igoe | |
| Name: Paul G. Igoe | ||
| Title: Senior Vice President, General Counsel and Secretary | ||
Exhibit 99.1
Crane NXT Announces Appointment of Jeffrey Benck to Board of Directors
WALTHAM, Mass., March 12, 2026 (GLOBE NEWSWIRE) -- Crane NXT, Co. (NYSE: CXT) ("Crane NXT" or the "Company"), a global leader in authentication and traceability technologies, today announced that its Board of Directors (“Board”) has appointed Jeffrey Benck as a Director of Crane NXT.
Mr. Benck brings over 35 years of broad industry experience, as a chief executive officer and leader of technology companies, spanning software, services and hardware. Since March 2019, Mr. Benck has served as President, Chief Executive Officer and Director of Benchmark Electronics (NYSE: BHE), a global provider of engineering design and manufacturing services. Mr. Benck also serves as a Director and Chair of the Human Resource and Governance Committee of UNS Energy Corporation, the non-public subsidiary of Fortis Inc.
Prior to joining Benchmark Electronics, Mr. Benck served as President and Chief Executive Officer of Lantronix, global provider of secure data access and management solutions for Internet-of-Things (IOT) and information technology assets. Prior to Lantronix, Mr. Benck served as President and Chief Executive Officer of Emulex Corporation, a global supplier of advanced networking, monitoring, and management solutions from July 2013 until Emulex was acquired by Avago Technologies (now Broadcom, Inc.) in May 2015. Prior to Emulex, Mr. Benck was President and Chief Operating Officer of QLogic Corporation, a supplier of storage networking solutions. He also spent 18 years at IBM Corporation where he held a variety of senior leadership roles.
Mr. Benck holds a Master of Science degree in management of technology from University of Miami and a Bachelor of Science degree in mechanical engineering from Rochester Institute of Technology.
On March 6, 2026, James L.L. Tullis, a current Director of the Board, notified the Board that he will not stand for reelection at the Company’s 2026 Annual Meeting of Stockholders (the “Annual Meeting”). Accordingly, Mr. Tullis will cease to serve as a director of the Company at the conclusion of the Annual Meeting scheduled for May 21, 2026.
John S. Stroup, Chairman of the Crane NXT Board, said: “I am pleased to welcome Jeff to Crane NXT’s Board of Directors. With over 35 years of experience across technology-driven businesses, Jeff offers a valuable combination of seasoned leadership and customer-focus that will strengthen our support of Crane NXT’s strategy. I would also like to thank Jim for his thoughtful perspective and partnership over the past several years, which have been invaluable to the Company.”
About Crane NXT, Co.
Crane NXT is a global leader in authentication and traceability technologies. Through its industry-leading businesses, Crane NXT provides customers with advanced technologies to secure high-value products for governments and leading global brands, sophisticated detection equipment and systems, and proprietary products to protect identities. Crane NXT’s approximately 5,000 employees help its customers protect their most important assets and ensure secure, seamless transactions around the world every day. For more information visit www.cranenxt.com.
Investors
Matt Roache
VP, Investor Relations
matthew.roache@cranenxt.com
www.cranenxt.com
FAQ
What board changes did Crane NXT (CXT) announce in this 8-K?
Who is Jeffrey Benck and what experience does he bring to Crane NXT (CXT)?
How will Jeffrey Benck be compensated as a Crane NXT (CXT) director?
When will James L.L. Tullis leave the Crane NXT (CXT) Board?
Did Crane NXT (CXT) disclose any related-party transactions with Jeffrey Benck?
What exhibit accompanied Crane NXT’s 8-K about its board changes?
Filing Exhibits & Attachments
4 documentsPress Releases
