Crane NXT (NYSE: CXT) sets 2026 virtual meeting, auditor vote and Say-on-Pay
Crane NXT, Co. is holding a virtual 2026 annual stockholders’ meeting on May 21, 2026 at 10:00 a.m. Eastern via www.virtualshareholdermeeting.com/CXT2026. Stockholders of record on March 27, 2026 will vote on electing nine directors, ratifying Deloitte & Touche LLP as 2026 auditor, and approving an advisory “Say‑on‑Pay” resolution.
The Board highlights separated Chairman/CEO roles, fully independent key committees, majority voting, strict conflict and over‑boarding policies, and stock ownership guidelines. Executive pay in 2025 combined salary, annual cash incentives and long‑term equity (PRSUs, options and RSUs), with most value tied to performance metrics such as revenue, adjusted operating profit, adjusted free cash flow and relative total stockholder return.
Positive
- None.
Negative
- None.
Key Figures
Key Terms
Say-On-Pay financial
performance-based restricted share units financial
total stockholder return financial
benefit equalization plan financial
change in control financial
Compensation Summary
| Name | Title | Total Compensation |
|---|---|---|
| Aaron W. Saak | ||
| Christina Cristiano |
- Election of nine directors to serve until the 2027 annual meeting
- Ratification of Deloitte & Touche LLP as independent auditors for 2026
- Advisory approval of compensation paid to named executive officers


This Proxy Statement and the 2025 Annual Report to Stockholders are available at | |||
https://investors.cranenxt.com/ar | |||

1 |
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS MAY 21, 2026 | ||||||
![]() | WHEN: | |||
May 21, 2026 Thursday 10:00 a.m. Eastern Daylight Time | ||||
![]() | WHERE: | |||
Online via live webcast at www.virtualshareholdermeeting. com/CXT2026 | ||||
HOW TO VOTE: | ||||
![]() | By Phone | |||
1-800-690-6903 | ||||
![]() | By Mail | |||
Complete, sign, and return the proxy card. | ||||
![]() | By Internet | |||
www.proxyvote.com | ||||
![]() | Live Webcast | |||
Stockholders at the close of business on March 27, 2026, are entitled to vote at the virtual Annual Meeting. | ||||
![]() | By Scanning | |||
You can vote your shares online by scanning the QR code on your proxy card. | ||||
Proposal | Board Recommendation | |||||||||
Item 1 | To elect nine directors to serve for one-year terms until the annual meeting of stockholders in 2027 | FOR each director | ||||||||
![]() | Page 5 | |||||||||
Item 2 | To vote on a proposal to ratify the selection of Deloitte & Touche LLP as independent auditors for the Company for 2026 | FOR | ||||||||
![]() | Page 22 | |||||||||
Item 3 | To vote on a proposal to approve, by a non-binding advisory vote, the compensation paid by the Company to its named executive officers | FOR | ||||||||
![]() | Page 26 | |||||||||

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PROXY SUMMARY | ||||||
Date: | May 21, 2026 | ||
Time: | 10:00 a.m. Eastern Daylight Time | ||
Virtual Meeting Website: | www.virtualshareholdermeeting.com/CXT2026 | ||
Record Date: | March 27, 2026 | ||
Proposal | Board Recommendation | |||||
Item 1 | To elect nine directors to serve for one-year terms until the annual meeting of stockholders in 2027 | FOR each director Page 5 | ||||
Item 2 | To vote on a proposal to ratify the selection of Deloitte & Touche LLP as independent auditors for the Company for 2026 | FOR Page 22 | ||||
Item 3 | To vote on a proposal to approve, by a non-binding advisory vote, the compensation paid by the Company to its named executive officers | FOR Page 26 | ||||
Board Governance Practices | ||||||
• Separate Chairman and CEO roles • 100% independent Audit, Nominating and Governance, and Management Organization and Compensation Committees • Regular executive sessions of non-management directors • Annual Board and committee performance self-evaluations • Offer of resignation upon significant change in primary job responsibilities • Directors are elected annually • Majority voting and director resignation policy for directors in uncontested elections • Stringent conflict of interest policies | • Directors subject to stock ownership guidelines and anti-hedging and pledging policies • Director retirement policy • Strict over-boarding policy for directors • Diverse Board with the appropriate mix of skills, experience and perspectives • Comprehensive director nomination and Board refreshment process • Oversight of sustainability and human capital matters impacting our business | |||||
3 |
WHAT WE DO | ||
• Caps on performance-based cash and equity incentive compensation • Annual review of our executive compensation strategy • Annual compensation risk assessment • Annual “Say-On-Pay” vote • Significant portion of executive compensation tied to corporate performance or stock value • Significant stock ownership guidelines for our executives, including a market standard 6x base salary requirement for the CEO • Stock options and unearned performance-based awards do not count towards ownership for purposes of our stock ownership guidelines • Majority of executive variable pay is delivered in long-term equity-based awards, subject to multi-year vesting periods • Stock options and time-based RSU awards vest over four years • Performance-based cash and equity incentive compensation subject to clawback • 100% independent directors on the Management Organization and Compensation Committee • Management Organization and Compensation Committee retains independent compensation consultant • No dividends or dividend equivalents on unexercised options or performance-based equity awards • Limited perquisites | ||
WHAT WE DON’T DO | ||
• No tax gross-ups, including for change in control related excise tax payments • No multi-year guaranteed incentive awards • No fixed-duration employment contracts with executive officers • No hedging or pledging of Company stock permitted • No excessive perquisites for executives • No defined benefit pension plans for named executive officers • No “repricing” of out-of-the-money options without stockholder approval • No discounted stock options or “spring-loaded” equity awards • No “single-trigger” change in control payments and benefits • No strict benchmarking of compensation to a specific percentile of our compensation peer group • No incentivizing unnecessary or excessive risk-taking | ||
4 |
ITEM 1: ELECTION OF DIRECTORS | ||||||
![]() | PROPOSAL 1 The Board recommends voting FOR each of the Director Nominees | |
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Benck | Dinkins | Grogan | Joyce | Kogl | McClain | Petratis | Saak | Stroup | |||||||||||||||||||
Public company multinational CEO experience | • | • | • | • | |||||||||||||||||||||||
Public company multinational CFO experience | • | • | |||||||||||||||||||||||||
General finance acumen | • | • | • | • | • | • | • | • | • | ||||||||||||||||||
Corporate governance/board experience | • | • | • | • | • | • | • | ||||||||||||||||||||
Mergers & acquisitions | • | • | • | • | • | • | • | • | • | ||||||||||||||||||
Manufacturing operations | • | • | • | • | • | • | |||||||||||||||||||||
Expertise with one or more of our end markets | • | • | • | • | • | • | |||||||||||||||||||||
Intellectual capital development (human capital) | • | • | • | • | • | • | • | • | • | ||||||||||||||||||
Cyber/Information Security skills | • | • | • | • | • | • | • | • | |||||||||||||||||||
Independent | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||||||||||||||
Self-Identified Race/Ethnicity | |||||||||||||||||||||||||||
African American | • | • | |||||||||||||||||||||||||
Hispanic/Latin American | • | ||||||||||||||||||||||||||
White Caucasian | • | • | • | • | • | • | • | ||||||||||||||||||||
Self-Identified Gender | |||||||||||||||||||||||||||
Male | • | • | • | • | • | • | |||||||||||||||||||||
Female | • | • | • |
6 |
![]() | JEFFREY BENCK | ||||||||||||
Age: 60 Director Since: 2026 | |||||||||||||
Chief Executive Officer and Director of Benchmark Electronics, Inc. from March 2019 to March 2026. Previously, Mr. Benck served as President, Chief Executive Officer and Director of Lantronix from December 2015 to February 2019. He has served on the nonpublic Board of UNS Energy Corporation since November 2022, the parent company of Tucson Electric Power and UniSource Energy Services, and is Chair of UNS Energy’s Human Resource and Governance Committee. Mr. Benck has served on the Board of Trustees of the Rochester Institute of Technology since July 2023. | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• More than 35 years of broad technology industry experience growing companies, both as a Chief Executive Officer and as a director of multiple public technology companies • Unique perspective drawing from his experience as a former original equipment manufacturer customer and supplier • Deep experience in new product development, product marketing, organizational development, intellectual property, and capital deployment from a variety of senior leadership roles at several global hardware, software and services companies | |||||||||||||
![]() | MICHAEL DINKINS | |||||||||||
Age: 72 Director Since: 2019 | Committees: Audit (Chair); Nominating and Governance; Executive | |||||||||||
Founder of Dinkins Financial (consulting firm that helps small businesses gain access to capital). Mr. Dinkins has served as a director of Aebi Schmidt Group since July 2025 and Community Health Systems, Inc. since 2017. Mr. Dinkins has also served as a director of the National Council on Compensation Insurance since May 2022. Mr. Dinkins graduated with honors from General Electric’s Financial Management Program where he also served as an instructor for five years. | ||||||||||||
Relevant Skills and Experience: | ||||||||||||
• Sophisticated financial expertise acquired through public company chief financial officer, chief executive officer and financial, IT and internal audit roles • Significant experience with complex leveraged refinancing and equity financing (initial public offering and secondary markets) transactions • CFO of a publicly traded company with international operations • Expertise in the global integration of acquired companies | ||||||||||||
7 |
![]() | WILLIAM GROGAN | ||||||||||||
Age: 47 Director Since: 2023 | Committees: Audit | ||||||||||||
Executive Vice President and Chief Financial Officer of Xylem Inc. (a global water technology company) since October 2023. Prior to his role at Xylem, Mr. Grogan served as Senior Vice President and Chief Financial Officer of IDEX Corporation (a developer, designer and manufacturer of specialty engineered products) from January 2017 until September 2023. Mr. Grogan also serves on the board of advisors of the Girard School of Business (at Merrimack College). | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• Financial expertise acquired as a public company chief financial officer and in senior finance roles • Extensive experience in strategic planning, operations, and talent development through a diverse background of leadership positions • Proficiency with capital deployment including significant mergers and acquisitions experience as well as a consistent philosophy of returning funds to stockholders | |||||||||||||
![]() | SANDRA JOYCE | ||||||||||||
Age: 48 Director Since: 2024 | Committees: Audit | ||||||||||||
Vice President, Google Threat Intelligence at Google LLC since November 2022. Prior to her current role, Ms. Joyce was Executive Vice President, Global Intelligence & Advanced Practices at Mandiant, Inc. from August 2020 to November 2022 and held other roles at Mandiant from 2015 to 2020. | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• Extensive cyber/national security expertise gained through over 25 years of experience in the national security sector • Global leadership experience driving new product development and guiding companies through growth and change • Experience advising senior management teams and boards of government entities and private sector businesses on global business threats | |||||||||||||
8 |
![]() | CRISTEN KOGL | ||||||||||||
Age: 60 Director Since: 2023 | Committees: Nominating and Governance; Management Organization and Compensation | ||||||||||||
Chief Legal Officer, General Counsel and Corporate Secretary of Zebra Technologies Corporation (a global leader in enterprise asset intelligence). Ms. Kogl has served as Zebra’s top Legal Officer, through various titles, since September 2018. Ms. Kogl has also served on the Board of Trustees at Lake Forest College since September 2023 and as a director of the U.S. Chamber of Commerce since November 2020. | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• Operational and organizational expertise as an in-house lawyer/corporate generalist (with a focus on technology law) for 25+ years managing global legal and compliance teams and as a member of the executive team • Deep experience in mergers and acquisitions, intellectual property, U.S. public company governance and Securities and Exchange Commission regulations, commercial contracting, enterprise and cyber risk management, litigation management, labor and employment relations, government affairs, and compliance functions | |||||||||||||
![]() | ELLEN MCCLAIN | ||||||||||||
Age: 61 Director Since: 2013 | Committees: Management Organization and Compensation (Chair); Nominating and Governance | ||||||||||||
Former Chief Executive Officer and President of Year Up United (not-for-profit provider of job training services) from December 2023 until December 2025 and from 2022 until December 2025, respectively. Prior to these roles, Ms. McClain was Chief Operating Officer of Year Up United from 2021 to 2022, and Chief Financial Officer from 2015 to 2021. Ms. McClain has served as a director of Crane Company since April 2023. Ms. McClain was a director of Horseracing Integrity and Safety Authority from 2021 through August 2023. | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• Financial, operational and organizational expertise gained as chief financial officer, chief operating officer, and president of public and private enterprises • Broad experience as a senior executive with responsibility for organizational direction and development, financial expertise, and intellectual capital | |||||||||||||
9 |
![]() | DAVID D. PETRATIS | ||||||||||||
Age: 68 Director Since: 2023 | Committees: Audit | ||||||||||||
Chairman of the Board, President and Chief Executive Officer of Allegion plc (a global provider of mechanical and electronic security products and access solutions) from 2013 to January 2023. Mr. Petratis has served as Chair of Governance and Lead Independent Director of Sylvamo Corporation since October 2021 and as Non-Executive Chairman at MasterBrand, Inc. since December 2022. | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• Extensive global, industrial management experience serving as chief executive officer of two publicly traded companies • Leadership experience in the creation of three spin companies: Allegion from Ingersoll-Rand, Quanex Building Products, and MGE UPS Systems • Experience in business portfolio management driving growth through research and development, acquisition and divestment | |||||||||||||
![]() | AARON W. SAAK | ||||||||||||
Age: 52 Director Since: 2023 | Committees: Executive | ||||||||||||
President and Chief Executive Officer of the Company since October 2022. Prior to his role at Crane NXT, Mr. Saak served as President and CEO, Mobility Solutions at Vontier Corporation (a global technology leader serving the retail convenience market) from June 2022 to November 2022 and President of Gilbarco Veeder-Root, a subsidiary of Vontier Corporation, from February 2018 to June 2022. | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• Significant experience leading global, complex engineered technology businesses for world-class industrial organizations • Extensive experience with strategic business development and execution, organically and through acquisitions • Built strong teams with a high degree of ethics, integrity, collaboration, empowerment, and entrepreneurial spirit • Customer focused, process-driven, with a continuous improvement mindset, applying a metrics-oriented approach to driving business performance • Proven leader at driving successful profitable growth for all stakeholders | |||||||||||||
10 |
![]() | JOHN S. STROUP | ||||||||||||
Age: 59 Director Since: 2020 | Committees: Executive (Chair); Management Organization and Compensation | ||||||||||||
Partner of Clayton, Dubilier & Rice (a global private equity manager that invests in and builds businesses) since June 2024 and Operating Advisor of Clayton, Dubilier & Rice since February 2021. Prior to his current role, Mr. Stroup was President, Chief Executive Officer, and a director of Belden Inc. (a global leader in signal transmission and security solutions) from 2005 to May 2020, Chairman from 2016 to 2020, and Executive Chairman from 2020 to May 2021. Mr. Stroup has served as a director of Resideo Technologies, Inc. since June 2024. Mr. Stroup has also served as a director of Barry-Wehmiller since 2008, Indicor since January 2022 and SunSource since March 2024. Mr. Stroup was a director of Tenneco Inc. from 2020 to November 2022, Zurn Elkay Water Solutions Corporation from 2008 to May 2023, and Crane Company from April 2023 to July 2024. | |||||||||||||
Relevant Skills and Experience: | |||||||||||||
• More than 35 years of experience in industrial manufacturing of highly engineered products and business strategy development • Proven leadership skills with over 15 years of experience as president, chief executive officer and director of a global leader in signal transmission and security solutions | |||||||||||||
11 |
• | The director is or was an employee, or the director’s immediate family member is or was an executive officer, of Crane NXT other than as an interim Chairman or interim CEO, unless at least three years have passed since the end of such employment relationship. |
• | The director is an employee, or the director’s immediate family member is an executive officer, of an organization (other than a charitable organization) that in any of the last three completed fiscal years made payments to, or received payments from, Crane NXT for property or services, if the amount of such payments exceeded the greater of $1 million or 2% of the other organization’s consolidated gross revenues. |
• | The director has received, or the director’s immediate family member has received, direct compensation from Crane NXT, if the director is a member of the Audit Committee or the amount of such direct compensation received during any 12-month period within the preceding three years has exceeded $120,000 per year, excluding (i) director and committee fees and pension and other forms of deferred compensation for prior services (so long as such compensation is not contingent in any way on continued service); (ii) compensation received as interim Chairman or CEO; or (iii) compensation received by an immediate family member for service as a non-executive employee of Crane NXT. |
• | The director is a current partner of or employed by, or the director’s immediate family member is a current partner of, or an employee who personally works on the audit of Crane NXT at, a firm that is the internal or external auditor of Crane NXT, or the director was, or the director’s immediate family member was, within the last three years a partner or employee of such a firm and personally worked on the Crane NXT audit at that time. |
• | The director is or was employed, or the director’s immediate family member is or was employed, as an executive officer of another organization, and any of Crane NXT’s present executive officers serves or served on that other organization’s compensation committee, unless at least three years have passed since the end of such service or the employment relationship. |
• | The director is a member of a law firm, or a partner or executive officer of any investment banking firm, that has provided services to Crane NXT, if the director is a member of the Audit Committee or the fees paid in any of the last three completed fiscal years or anticipated for the current fiscal year exceed the greater of $1 million or 2% of such firm’s consolidated gross revenues. |
12 |
13 |
14 |

AUDIT COMMITTEE | MANAGEMENT ORGANIZATION AND COMPENSATION COMMITTEE | NOMINATING AND GOVERNANCE COMMITTEE | ||||
• Financial reporting risk • Legal and compliance risk • Selection, performance assessment and compensation of the independent auditor • Cyber/Information security risk • Fraud risk | • Performance assessment and compensation of the CEO and other executive officers • Management succession planning and intellectual capital development • Risk review of compensation plans and practices | • Governance risk • Independence of directors • Board succession planning • Board and committee performance evaluation | ||||
15 |
• | Provide leadership to the Board and ensure that each director is making an appropriate contribution; |
• | Guide the Board’s discharge of its duties, including reviewing corporate strategy, monitoring risk management and compliance activities, and evaluating senior management performance and succession planning; |
• | Maintain an effective relationship with the Chief Executive Officer and act as a liaison between the Chief Executive Officer and the Board; |
• | Chair meetings of the Board and the annual meeting of stockholders; |
• | Organize and approve the agendas for Board meetings based on input from directors and the Chief Executive Officer; and |
• | Conduct an annual performance evaluation of the Board. |
16 |
Members The current members of the Audit Committee are Messrs. Dinkins (Chair), Grogan and Petratis and Ms. Joyce. Roles and Responsibilities The Audit Committee is the Board’s principal agent in fulfilling legal and fiduciary obligations with respect to matters involving Crane NXT’s accounting, auditing, financial reporting, internal control and legal compliance functions and conflicts of interest. The duties of the Audit Committee include (i) responsibility for the appointment, retention, compensation, and oversight of our independent auditors, (ii) reviewing our financial statements, notes and certain non-financial disclosures, (iii) reviewing and maintaining our internal audit function and (iv) maintaining procedures to ensure compliance with legal and regulatory requirements. Independence All members of the Audit Committee meet the independence and expertise requirements of the NYSE, and all qualify as “independent” under the provisions of SEC Rule 10A-3. In addition, the Board has determined that each of Mr. Dinkins and Mr. Grogan is an “audit committee financial expert” as defined in regulations of the SEC. The Audit Committee met six times in 2025. The Audit Committee’s report appears beginning on page 24. | ||
Members The current members of the Management Organization and Compensation Committee are Mses. McClain (Chair) and Kogl and Messrs. Stroup and Tullis. Roles and Responsibilities The duties of the Management Organization and Compensation Committee include (i) evaluating the Chief Executive Officer’s performance and recommending his or her compensation to the Board, (ii) approving compensation for other executive officers and reviewing the compensation of other officers and business unit presidents, (iii) administering the Company’s annual incentive and stock-based compensation plans, including the clawback policy, (iv) reviewing significant changes to compensation policies, benefit plans and change-in-control arrangements, (v) overseeing director compensation, (vi) evaluating the alignment of compensation practices with risk management, (vii) reviewing management development and succession planning, including emergency Chief Executive Officer succession and (viii) preparing required proxy statement disclosures. Independence All members of the Management Organization and Compensation Committee meet the independence requirements of the NYSE. The Management Organization and Compensation Committee met four times in 2025. The Management Organization and Compensation Committee’s report appears on page 40. | ||
17 |
Members The current members of the Nominating and Governance Committee are Messrs. Tullis (Chair) and Dinkins and Mses. Kogl and McClain. Mr. Tullis is expected to remain serving on the Nominating and Governance Committee in his capacity as Chair until his retirement from the Board at the 2026 Annual Meeting. The Board will consider a replacement Chair before such time. Roles and Responsibilities The duties of the Nominating and Governance Committee include (i) developing criteria for selection of directors and identifying potential candidates for service as directors, (ii) overseeing policies regarding tenure of service and retirement for members of the Board, (iii) making recommendations regarding the committee structure and (iv) overseeing corporate governance matters, including director independence. Independence All members of the Nominating and Governance Committee meet the independence requirements of the NYSE. The Nominating and Governance Committee met four times in 2025. | ||
Members The current members of the Executive Committee are Messrs. Stroup (Chair), Dinkins and Saak. Roles and Responsibilities The duties of the Executive Committee include meeting when a quorum of the full Board cannot be readily convened to exercise any of the powers of the Board, except for approving an amendment of the Certificate of Incorporation or By-laws, adopting an agreement of merger or sale of all or substantially all of Crane NXT’s assets or dissolution of Crane NXT, filling vacancies on the Board or any committee thereof, or electing or removing officers. The Executive Committee did not hold any meetings during 2025. | ||
18 |
19 |
• | A retainer of $255,000 per year, payable $90,000 in cash and $165,000 in the form of Deferred Stock Units (“DSUs”) of equivalent value, as described below. A director may also elect to receive up to 100% of the cash retainer in DSUs or in fully vested shares of Crane NXT stock; |
• | An incremental retainer of $130,000 per year for the non-employee Chairman of the Board, payable in cash (or up to 100% in DSUs or fully vested shares, at the election of the Chairman); |
• | A retainer of $25,000 per year for the Chair of the Audit Committee; $20,000 per year for the Chair of the Management Organization and Compensation Committee; and $17,500 per year for the Chair of the Nominating and Governance Committee, in each case, payable in cash; and |
• | A retainer of $10,000 per year for each member of the Audit Committee other than the Chair; $7,500 per year for each member of the Management Organization and Compensation Committee and the Nominating and Governance Committee other than the Chair; and $2,000 per year for each member of the Executive Committee other than the Chief Executive Officer, in each case, payable in cash. |
20 |
Name | Fees Earned or Paid in Cash ($) | Stock Awards(1)(2) ($) | Total ($) | ||||||||
M. Dinkins | 124,500 | 145,046 | 269,546 | ||||||||
W. Grogan | 45,110 | 235,021 | 280,130 | ||||||||
S. Joyce | 100,000 | 145,046 | 245,046 | ||||||||
C. Kogl | 42,445 | 190,033 | 232,478 | ||||||||
E. McClain | 99,500 | 163,020 | 262,520 | ||||||||
D. D. Petratis | 10,000 | 235,021 | 245,021 | ||||||||
J. S. Stroup | 99,500 | 275,044 | 374,544 | ||||||||
J. L. L. Tullis | 115,000 | 145,046 | 260,046 |
(1) | Amounts in this column reflect the aggregate grant date fair value of the DSUs granted to our non-employee directors during fiscal 2025 as computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, excluding the effect of estimated forfeitures. The grant date fair value of each DSU as of the relevant grant date is indicated below. The DSUs are granted annually at the time of the Annual Meeting. The assumptions on which this valuation is based are set forth in Note 8 to the audited financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2026. The awards were as follows: |
• | 2,776 DSUs to each of Messrs. Dinkins and Tullis and Ms. Joyce; 4,498 DSUs to each of Messrs. Grogan and Petratis; 3,637 DSUs to Ms. Kogl; 3,120 DSUs to Ms. McClain; and 5,264 DSUs to Mr. Stroup, in each case on May 22, 2025 with a grant date fair value per DSU of $52.25. |
(2) | As of December 31, 2025, each individual named in the table held DSU awards which, upon settlement, would entitle the individual to the following aggregate number of shares payable by the Company subject to outstanding unvested DSU awards: 2,800 for Mr. Dinkins; 4,538 for Mr. Grogan; 2,800 for Ms. Joyce; 3,669 for Ms. Kogl; 3,148 for Ms. McClain; 4,538 for Mr. Petratis; 5,310 for Mr. Stroup; and 2,800 for Mr. Tullis. |
21 |
ITEM 2: RATIFICATION OF THE SELECTION OF AUDITORS | ||||||
![]() | PROPOSAL 2 The Board recommends voting FOR the Ratification of the Selection of Deloitte & Touche LLP as the Company’s independent auditors for 2026 | |
2025 | 2024 | ||||||||||
(in thousands) | |||||||||||
Audit fees(a) | $ 4,863 | $ 3,894 | |||||||||
Audit-related fees(b) | $117 | $112 | |||||||||
Tax fees(c) | $ 212 | $257 | |||||||||
All other fees(d) | $2 | $2 | |||||||||
Total | $ 5,194 | $ 4,265 | |||||||||
(a) | Audit fees include (i) reviews of the Company’s quarterly and annual financial statements; (ii) Sarbanes-Oxley Act, Section 404 attestation matters; and (iii) statutory and regulatory audits, comfort letters, consents and other services related to SEC matters. |
(b) | Audit-related services consisted of: (i) benefit plan audits; (ii) agreed-upon procedures reports; and (iii) financial accounting and reporting consultations. |
(c) | Fees for tax compliance services totaled (in thousands) $88 and $249 in 2025 and 2024, respectively. Tax compliance services are services rendered based upon facts already in existence or transactions that have already occurred, to document, compute, and obtain government approval for amounts to be included in tax filings. Fees for tax planning and advice services totaled (in thousands) $124 and $8 in 2025 and 2024, respectively. |
22 |
(d) | Fees for all other services billed consisted of fees for software licenses. |
2025 | 2024 | |||||||
Ratio of tax planning and advice fees and all other fees to audit fees, audit-related fees, and tax compliance fees | 2% | 0% | ||||||
Percentage of non-audit services approved by the Audit Committee | 100% | 100% |
• | specifies certain types of services that our independent auditors are prohibited from performing; |
• | requires that management prepare a budget for non-prohibited services at the beginning of each fiscal year, and present the budget to the Audit Committee for their approval; and |
• | requires that any expenditure outside of the budget also be approved by the Audit Committee in advance. |
23 |
• | received the written disclosures and the letter from the independent auditors required by applicable requirements of the Public Company Accounting Oversight Board regarding the independent auditors’ communications with the Committee concerning independence; |
• | discussed with the independent auditors their independence, and any activities that may impact their objectivity and independence, including fees for non-audit services, and satisfied itself as to the auditors’ independence; |
• | received a report on the quality control procedures of the independent auditors; |
• | received and discussed a report on critical audit matters; |
• | discussed with management, the internal auditors, and the independent auditors the quality and adequacy of the Company’s internal controls, with particular focus on compliance with Section 404 of the Sarbanes-Oxley Act of 2002, as well as the internal audit function’s organization, responsibilities, budget, and staffing; |
• | reviewed with the independent auditors and the internal auditors their respective audit plans and audit scope; |
• | reviewed with management the risk assessment and risk management procedures of the Company, including cybersecurity risk, as well as the procedures and findings of the Company’s compliance program; |
• | discussed the results of the internal audit examinations; |
• | discussed with the independent auditors the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board and the SEC; and |
• | discussed and reviewed, both with and without members of management present, the independent auditors’ examination of the financial statements. |
24 |
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ITEM 3: ADVISORY VOTE ON COMPENSATION OF NAMED EXECUTIVE OFFICERS | ||||||
![]() | PROPOSAL 3 The Board recommends voting FOR the Advisory Vote to Approve the Compensation of our Named Executive Officers | |
• | closely linked to the performance of the Company as a whole and the individual executive; |
• | aligned with the Company’s annual operating plan and long-term strategic plans and objectives; |
• | attractive in the markets in which we compete for executive talent; and |
• | structured to reward actions in accordance with the Company’s values and standards and to discourage the taking of inappropriate risks. |
26 |
COMPENSATION DISCUSSION AND ANALYSIS | ||||||
Aaron W. Saak | President and Chief Executive Officer | |||
Christina Cristiano | Senior Vice President and Chief Financial Officer | |||
Paul G. Igoe | Senior Vice President, General Counsel and Secretary | |||
Samuel Keayes | Senior Vice President, Security and Authentication Technologies | |||
Kimberly DiMaurizio | Senior Vice President, Chief People Officer |
• | Performance, including overall performance of the Company, performance of the executive’s business unit, as applicable, and individual performance; |
• | Alignment with our annual operating plan and longer-term strategic plans and objectives to build sustainable success and value for the Company and for our stockholders; |
• | Competitiveness given relevant and appropriate market conditions to attract, motivate and retain highly qualified executives; and |
• | Consistency with high standards of corporate governance to avoid encouraging executives to take risks that are reasonably likely to have a material adverse effect on the Company or to behave in ways that are inconsistent with the Company’s objectives, values, and standards of behavior. |
Compensation Element | Principal Objectives | Key Characteristics | ||||||
Base Salary | To provide a fixed amount for performing the duties and responsibilities of the position | • Determined based on overall performance, level of responsibility, competitive compensation data, and comparison to other Company executives | ||||||
Annual Incentive Plan | To motivate NEOs to achieve annual financial performance goals | • Payment based on achievement of Company-wide or business unit performance goals, as applicable, relative to annual pre-established targets | ||||||
27 |
Compensation Element | Principal Objectives | Key Characteristics | ||||||
Performance-Based Restricted Share Units (“PRSUs)* | To motivate NEOs to drive long-term stockholder value creation | • Number of shares actually earned based on relative TSR over three-year performance period versus the S&P Midcap 400 Capital Goods Industry Group Index • Payout capped at target if the Company’s absolute TSR is negative • Maximum payout capped at four times (4x) the original grant date value, which, for this purpose, is calculated based on target performance and a “beginning price” equal to the 20-day average closing price of the Company’s stock for the 20 trading days immediately prior to the start of the performance period • Value realized varies with Company stock price performance | ||||||
Stock Options | To motivate and retain NEOs and align their interests with long-term stockholder interests | • Grants vest over four years • Value realized dependent on Company stock price appreciation | ||||||
Time-Based Restricted Share Units (“TRSUs”)* | To retain NEOs and drive long-term stockholder value creation | • Grants vest over four years • Value realized varies with Company stock price performance | ||||||
* | PRSUs and TRSUs may be collectively referred to in this Proxy Statement as “RSUs.” |
NEO | 2024 Base Salary ($) | 2025 Base Salary ($) | Percentage Increase | ||||||||
A. Saak | 850,000 | 875,000 | 2.9% | ||||||||
C. Cristiano | 470,000 | 520,000 | 10.6% | ||||||||
P. Igoe | 492,000 | 505,000 | 2.6% | ||||||||
S. Keayes | 496,736 | 555,617 | 11.9%** | ||||||||
K. DiMaurizio | N/A* | 430,000 | N/A |
* | Ms. DiMaurizio began her employment on October 1, 2025. |
** | As noted above, Mr. Keayes is employed in the United Kingdom and receives his compensation in GBP. Amounts in this table have been converted to USD using an exchange rate of 1.3445 USD to 1 GBP for 2025 (as of December 31, 2025), and a rate of 1.2521 USD to 1 GBP for 2024 (as of December 31, 2024). The percentage increase in his base salary from 2024 to 2025 calculated in GBP is 4.17%. |
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Corporate Objectives* | Threshold (0% payout) ($) | Target (100% payout) ($) | Maximum (200% payout) ($) | Actual* ($) | Performance relative to Target Range | Weight | Calculated Payout (%) | ||||||||||||||||
Revenue | 1,371.6M | 1,524.0M | 1,676.4M | 1,568.6M | 129% | 25% | 32% | ||||||||||||||||
Adjusted operating profit** | 283.2M | 354.0M | 424.8M | 335.8M | 79% | 50% | 39% | ||||||||||||||||
Adjusted free cash flow** | 158.4M | 226.3M | 294.1M | 213.5M | 89% | 25% | 22% | ||||||||||||||||
Weighted payout % | 94% |
* | Revenue, adjusted operating profit and adjusted free cash flow for 2025 bonus calculation purposes under the 2025 Annual Incentive Plan exclude corporate interest costs related to acquisitions and restructuring initiatives that were not part of plan assumptions. |
** | Adjusted operating profit and adjusted free cash flow are non-GAAP metrics. See “Non-GAAP Information” section below for a description of how these metrics are calculated. As described in more detail thereunder, these metrics were further adjusted by the Committee for special, one-time items, none of which were recurring in nature, for 2025 bonus calculation purposes under the 2025 Annual Incentive Plan, which adjustments may in some cases differ from the adjustments made for financial reporting purposes. |
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Security and Authentication Technologies Objectives | Threshold (0% payout) ($) | Target (100% payout) ($) | Maximum (200% payout) ($) | Actual ($) | Performance relative to Target Range | Weight | Calculated Payout (%) | ||||||||||||||||
Revenue | 594.3M | 660.3M | 726.4M | 722.0M | 193% | 25% | 48% | ||||||||||||||||
Adjusted operating profit* | 124.0M | 155.0M | 185.9M | 147.8M | 77% | 50% | 39% | ||||||||||||||||
Adjusted free cash flow* | 105.5M | 150.8M | 196.0M | 129.5M | 53% | 25% | 13% | ||||||||||||||||
Weighted payout % | 100% |
* | Adjusted operating profit and adjusted free cash flow are non-GAAP metrics. See “Non-GAAP Information” section below for a description of how these metrics are calculated. As described in more detail thereunder, these metrics were further adjusted by the Committee for special, one-time items, none of which were recurring in nature, for 2025 bonus calculation purposes under the 2025 Annual Incentive Plan, which adjustments may in some cases differ from the adjustments made for financial reporting purposes. |
Named Executive Officer | Bonus Target (% of Salary) | Bonus Target ($) | Payout (%) | Bonus Paid ($) | ||||||||||
A. W. Saak | 110% | 962,500 | 93.7 | 901,863 | ||||||||||
C. Cristiano | 80% | 416,000 | 93.7 | 389,792 | ||||||||||
P. G. Igoe | 70% | 353,500 | 93.7 | 331,230 | ||||||||||
S. Keayes | 70% | 388,932 | 100.1 | 389,321 | ||||||||||
K. DiMaurizio* | N/A | N/A | N/A | N/A |
* | As a new hire starting in October 2025, Ms. DiMaurizio was not eligible to participate in the 2025 Annual Incentive Program |
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Named Executive Officer | 2025 Long-Term Incentive Grants | ||||||||||||||||||||||
Stock Options | PRSUs (at target) | TRSUs | LTI Total (at target) ($) | ||||||||||||||||||||
$ | # | $ | # | $ | # | ||||||||||||||||||
A. W. Saak | 1,162,500 | 49,807 | 2,557,500 | 44,649 | 930,000 | 16,236 | 4,650,000 | ||||||||||||||||
C. Cristiano | 275,000 | 11,782 | 550,000 | 9,602 | 275,000 | 4,801 | 1,100,000 | ||||||||||||||||
P. G. Igoe | 200,000 | 8,569 | 400,000 | 6,983 | 200,000 | 3,492 | 800,000 | ||||||||||||||||
S. Keayes | 162,500 | 6,962 | 325,000 | 5,674 | 162,500 | 2,837 | 650,000 | ||||||||||||||||
K. DiMaurizio* | 325,000 | 11,758 | — | N/A | 325,000 | 4,922 | 650,000 | ||||||||||||||||
* | Ms. DiMaurizio’s Employment Letter provides that she would receive a 2025 equity award under the Stock Incentive Plan with a grant date value of $650,000. The equity award was made up of 50% stock options and 50% Time-Based RSUs and the effective date of grant was the actual date she commenced her employment with the Company, which was October 1, 2025. In addition, Ms. DiMaurizio received a new-hire TRSU grant with a grant date value of $400,000 to make her whole for certain equity awards forfeited from her prior employer, resulting in a grant of 6,058 shares. |
Performance Level | PRSU Grants | |||||||
CXT Relative TSR | Shares Earned % of Target | |||||||
Below Threshold | <25th percentile | 0% | ||||||
Threshold | 25th percentile | 25% | ||||||
Target | 50th percentile | 100% | ||||||
Maximum | ≥75th percentile | 200% | ||||||
31 |
32 |
Crane NXT’s Compensation Peer Group used for 2025 Compensation Decisions* | ||||||
Advanced Energy Industries, Inc. (AEIS) Albany International Corp. (AIN) Brady Corporation (BRC) Cognex Corporation (CGNX) Deluxe Corporation (DLX) ESCO Technologies Inc. (ESE) | Graco Inc. (GGG) Helios Technologies, Inc. (HLIO) Itron, Inc. (ITRI) Methode Electronics, Inc. (MEI) Nordson Corporation (NDSN) Novanta Inc. (NOVT)** | nVent Electric plc (NVT) OSI Systems, Inc. (OSIS) Sensata Technologies Holdings plc (ST)** Viavi Solutions Inc. (VIAV) Vontier Corp. (VNT) | ||||
* | Diebold Nixdorf experienced a Chapter 11 restructuring in March 2023, which affected its compensation practices. Therefore, it was removed from the 2025 peer group. |
** | Novanta Inc. and Sensata Technologies Holdings plc were added because they are high technology-enabled hardware and services companies that are appropriate comparators given the limited number of direct competitors to the Company. |
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Executive Level | Minimum Ownership Level | ||||
CEO | 6 x Base Salary | ||||
CFO | 5 x Base Salary | ||||
Other NEOs | 4 x Base Salary |
As of March 27, 2026, each NEO either held the requisite number of shares or was complying with the above-referenced retention ratio in accordance with the guidelines. | ||
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35 |
36 |
37 |
• | A lump sum pro-rated bonus, calculated as the greater of (i) the annual bonus of the most recently completed fiscal year or (ii) the average bonus paid or payable to the NEO for the three fiscal years immediately preceding 2025 (the “average annual bonus”), multiplied by the fraction of the current fiscal year completed as of the date of termination; |
• | A lump sum payment equal to three times the sum of (i) the annual base salary and (ii) the average annual bonus; |
• | All previously deferred compensation (with accrued interest, if any) and unpaid accrued vacation pay; and |
• | Continued benefits for the remainder of the change in control period on the same basis as before termination. |
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39 |
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2025 EXECUTIVE COMPENSATION TABLES | ||||||
Name and Principal Position | Year | Salary ($) | Bonus ($)(2) | Stock Awards ($)(3) | Option Awards ($)(4) | Non-Equity Incentive Plan Compensation ($)(5) | All Other Compensation ($)(6) | Total ($) | ||||||||||||||||||
Aaron W. Saak President and Chief Executive Officer | 2025 | 875,000 | — | 3,852,722 | 1,162,495 | 901,863 | 94,258 | 6,886,338 | ||||||||||||||||||
2024 | 850,000 | — | 3,649,343 | 1,125,008 | 694,450 | 104,987 | 6,423,788 | |||||||||||||||||||
2023 | 800,000 | 350,000 | 1,000,072 | 3,082,546 | 984,800 | 82,335 | 6,299,752 | |||||||||||||||||||
Christina Cristiano Senior Vice President and Chief Financial Officer | 2025 | 520,000 | — | 903,548 | 274,992 | 389,792 | 63,846 | 2,152,178 | ||||||||||||||||||
2024 | 470,000 | 75,000 | 765,192 | 237,509 | 307,192 | 66,947 | 1,921,840 | |||||||||||||||||||
2023 | 427,822 | 150,000 | 860,284 | 64,420 | 387,765 | 46,611 | 1,936,902 | |||||||||||||||||||
Paul G. Igoe Senior Vice President, General Counsel and Secretary | 2025 | 505,000 | — | 657,129 | 200,000 | 331,230 | 69,407 | 1,762,766 | ||||||||||||||||||
2024 | 492,000 | — | 644,358 | 199,991 | 281,375 | 73,578 | 1,691,302 | |||||||||||||||||||
2023 | 405,939 | 600,000 | 799,990 | — | 409,308 | 32,735 | 2,247,972 | |||||||||||||||||||
Samuel Keayes(1) Senior Vice President, Security and Authentication Technologies | 2025 | 555,617 | — | 533,923 | 162,493 | 389,321 | 42,161 | 1,683,516 | ||||||||||||||||||
2024 | 496,736 | — | 562,445 | 112,506 | 301,121 | 39,827 | 1,512,635 | |||||||||||||||||||
Kimberly DiMaurizio Senior Vice President and Chief People Officer | 2025 | 71,115 | 150,000 | 725,009 | 324,991 | — | 3,937 | 1,275,052 |
(1) | Amounts listed in this table for Mr. Keayes for 2025 have been converted to USD using an exchange ratio of 1.3445 USD to 1 GBP, the ratio as of December 31, 2025; and for 2024, using an exchange ratio of 1.2521 USD to 1 GBP, the ratio as of December 31, 2024. |
(2) | This amount reflects one installment of the cash new-hire bonus paid to Mr. Saak in 2023, in connection with his acceptance of employment with the Company in November 2022 and the cash new-hire bonuses paid to Mr. Igoe and Ms. DiMaurizio in connection with their acceptance of employment with the Company in 2023 and 2025, respectively (for Ms. DiMaurizio, representing the first installment of the cash new-hire bonus awarded to her under her Employment Letter). The Committee awards new-hire bonuses as a tool to compensate new-hire NEOs for compensation opportunities that are forfeited with their prior employer because of transitioning to the Company. These bonuses are typically subject to Company-favorable reimbursement provisions. For example, the bonuses are subject to repayment upon a voluntary termination of employment by the applicable NEO within two years or three years of the date the bonus is paid, respectively for each of Mr. Igoe and Ms. DiMaurizio. In addition, this column reflects a special bonus to Ms. Cristiano in 2023 and 2024 for her work on the separation transaction. |
(3) | Amounts shown in this column reflect the aggregate grant date fair value of TRSUs and PRSUs granted to the NEOs in the indicated year plus the incremental accounting expense associated with the conversion of equity awards in connection with the separation transaction, if applicable, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. The grant date fair value of the PRSUs was computed based on the probable outcome of the performance conditions as of the grant date of such awards, which was at target. The respective grant date fair values of the PRSUs granted in fiscal years 2025, 2024 and 2023, as applicable, assuming at such grant date the maximum payment (200% of target for PRSUs granted in fiscal years 2025, 2024 and 2023), would have been as follows for 2023: $295,556 for Ms. Cristiano and $532,260 for Mr. Keayes; for 2024: $5,498,714 for Mr. Saak, $1,055,363 for Ms. Cristiano, $888,747 for Mr. Igoe, and $499,848 for Mr. Keayes; and for 2025, $5,845,447 for Mr. Saak, $1,257,094 for Ms. Cristiano, $914,214 for Mr. Igoe and $742,840 for Mr. Keayes. With respect to Ms. DiMaurizio, the amount shown in this column reflects a make-whole equity award made in connection with her hiring, with a grant date value of $400,000 in the form of TRSUs which are subject to a two-year vesting schedule. The grant date fair values reflected in this column may differ from the approved values reflected in the Compensation Discussion and Analysis because of the |
41 |
(4) | Amounts shown in this column reflect the grant date fair value of options granted to the NEOs in the indicated year plus the incremental accounting expense associated with the conversion of equity awards in connection with the separation transaction, if applicable, computed in accordance with FASB ASC Topic 718 and using Black-Scholes, excluding the effect of estimated forfeitures. For details of individual grants of stock options during 2025 see the 2025 Grants of Plan-Based Awards table below. The assumptions on which these valuations are based are set forth in Note 8 to the audited financial statements included in the Company’s annual report on Form 10-K filed with the SEC on February 26, 2026. |
(5) | Amounts shown in this column represent annual bonuses for the indicated year under the Annual Incentive Plan. For details of the 2025 grants, including the threshold, target and maximum amounts that were potentially payable, see 2025 Grants of Plan-Based Awards Table below. |
(6) | Amounts in this column for each NEO in 2025 include the following: |
Personal Use of Company- Provided Car or Monthly Car Allowance ($)(a) | Company Contribution to Benefit Equalization Plan ($) | Company Contribution to 401(k) Plan ($) | Company Contribution to Pension Plan ($) | Insurance Premiums ($) | Annual Pension Stipend ($) | Total ($) | |||||||||||||||||
A. W. Saak | 14,049 | 36,497 | 21,000 | — | 22,712 | — | 94,258 | ||||||||||||||||
C. Cristiano | 6,023 | 14,143 | 21,000 | — | 22,680 | — | 63,846 | ||||||||||||||||
P. G. Igoe | 18,859 | 13,046(b) | 21,000 | — | 16,502 | — | 69,407 | ||||||||||||||||
S. Keayes | 14,790 | — | — | 6,718 | 1,830 | 18,823(c) | 42,161 | ||||||||||||||||
K. DiMaurizio | — | — | — | — | 3,937 | — | 3,937 |
(a) | For all NEOs except Mr. Keayes, the method of computing the cost of personal use of the Company-provided car is based on the aggregate incremental cost to the Company. The aggregate incremental cost is calculated by multiplying the actual cost to the Company of leasing the particular vehicle for the fiscal year (including the cost of associated maintenance fees) by the personal use percentage (the ratio of personal miles driven to total miles driven). Mr. Keayes receives a gross monthly car allowance at the rate of $14,790 per year. |
(b) | In the 2024 Proxy, the Company reported the contribution to Mr. Igoe’s Benefit Equalization Plan as $15,227.38; however, the amount actually contributed was $16,059.70. The amount reported was based on an earlier estimate of Mr. Igoe’s total wages that was subsequently updated. |
(c) | Represents the benefit earned by Mr. Keayes in a UK-based pension that is a tax-qualified defined contribution retirement plan. The amount was earned in 2025 but will not be paid until February 2026. |
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Name | Type of Award | Grant Date(1) | Approval Date | Estimated possible payouts under non-equity incentive plan awards(2) ($) | Estimated future payouts under equity incentive plan awards(3) (#) | All Other Stock Awards: Number of shares of stock or units (#)(4) | All other option awards: Number of securities underlying options (#)(5) | Exercise or base price of option awards ($/sh)(6) | Grant date fair value of stock and option awards ($)(7) | ||||||||||||||||||||||||||||||||
Threshold | Target | Max. | Threshold | Target | Max. | ||||||||||||||||||||||||||||||||||||
A. W. Saak | AIP | — | 962,500 | 1,925,000 | |||||||||||||||||||||||||||||||||||||
PRSU | 2/26/2025 | 2/7/2025 | 11,162 | 44,649 | 89,298 | 2,922,724 | |||||||||||||||||||||||||||||||||||
TRSU | 2/26/2025 | 2/7/2025 | 16,236 | 929,998 | |||||||||||||||||||||||||||||||||||||
Options | 2/26/2025 | 2/7/2025 | 49,807 | 57.28 | 1,162,495 | ||||||||||||||||||||||||||||||||||||
C. Cristiano | AIP | — | 416,000 | 832,000 | |||||||||||||||||||||||||||||||||||||
PRSU | 2/26/2025 | 2/7/2025 | 2,401 | 9,602 | 19,204 | 628,547 | |||||||||||||||||||||||||||||||||||
TRSU | 2/26/2025 | 2/7/2025 | 4,801 | 275,001 | |||||||||||||||||||||||||||||||||||||
Options | 2/26/2025 | 2/7/2025 | 11,782 | 57.28 | 274,992 | ||||||||||||||||||||||||||||||||||||
P. G. Igoe | AIP | — | 353,500 | 707,000 | |||||||||||||||||||||||||||||||||||||
PRSU | 2/26/2025 | 2/7/2025 | 1,746 | 6,983 | 13,966 | 457,107 | |||||||||||||||||||||||||||||||||||
TRSU | 2/26/2025 | 2/7/2025 | 3,492 | 200,022 | |||||||||||||||||||||||||||||||||||||
Options | 2/26/2025 | 2/7/2025 | 8,569 | 57.28 | 200,000 | ||||||||||||||||||||||||||||||||||||
S. Keayes | AIP | — | 388,932 | 777,864 | |||||||||||||||||||||||||||||||||||||
PRSU | 2/26/2025 | 2/7/2025 | 1,419 | 5,674 | 11,348 | 371,420 | |||||||||||||||||||||||||||||||||||
TRSU | 2/26/2025 | 2/7/2025 | 2,837 | 162,503 | |||||||||||||||||||||||||||||||||||||
Options | 2/26/2025 | 2/7/2025 | 6,962 | 57.28 | 162,493 | ||||||||||||||||||||||||||||||||||||
K. DiMaurizio | AIP | — | — | — | |||||||||||||||||||||||||||||||||||||
TRSU | 10/1/2025 | 8/28/2025 | 6,058 | 400,010 | |||||||||||||||||||||||||||||||||||||
TRSU | 10/1/2025 | 8/28/2025 | 4,922 | 325,000 | |||||||||||||||||||||||||||||||||||||
Options | 10/1/2025 | 8/28/2025 | 11,758 | 66.03 | 324,991 | ||||||||||||||||||||||||||||||||||||
(1) | All awards were made under the Stock Incentive Plan. |
(2) | Amounts in these columns relate to cash incentive compensation opportunities under our Annual Incentive Plan. See the Compensation Discussion and Analysis for more information on the 2025 annual bonus opportunity. In early 2026, the Committee approved bonus payouts for 2025 at 93.7% of target for Messrs. Saak and Igoe and Ms. Cristiano and at 100.1% of target for Mr. Keayes. The actual amounts paid to our NEOs are set forth in the Summary Compensation Table above. |
(3) | This column shows the number of PRSUs granted in 2025. The actual number of shares that will vest will be determined at year-end 2027 with reference to the ranking of the Company’s TSR versus the TSR of the other companies in the S&P Midcap 400 Capital Goods Group over the period from January 1, 2025 through December 31, 2027. See the Compensation Discussion and Analysis for more information. |
(4) | This column shows the number of TRSUs granted in 2025. TRSUs vest in four installments of 25% per year over four years beginning on the first anniversary of the date of grant. Ms. DiMaurizio’s new-hire TRSU grant is subject to a two-year vesting schedule, with 50% vesting on each of the first and second anniversaries of her employment commencement date. |
(5) | This column shows the number of Options granted in 2025. Options vest in four installments of 25% per year over four years beginning on the first anniversary of the date of grant. |
(6) | The exercise price of options is the fair market value of the Company’s stock on the date of grant, determined in accordance with the terms of the Stock Incentive Plan, which is the closing market price on the date of grant. |
(7) | The amounts reported in this column reflect the aggregate grant date fair value of the equity awards as computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures, and for Options, as determined using Black-Scholes. The grant date fair values reflected in this column may differ from the approved values reflected in the Compensation Discussion and Analysis because of the accounting methodology used to report the PRSUs in this column, as required by SEC rules. The assumptions used in the valuation of these awards are consistent with the valuation methodologies specified in Note 8 to our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. |
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Option Awards | Stock Awards | |||||||||||||||||||||||||
Name | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable(1) | Option Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#)(2) | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(4) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) | ||||||||||||||||||
A. W. Saak | 94,096 | 94,097(6) | 44.93 | 2/6/2033 | 52,922 | 2,491,039 | 174,642 | 8,220,399 | ||||||||||||||||||
11,522 | 34,566(7) | 58.00 | 2/28/2034 | |||||||||||||||||||||||
— | 49,807(8) | 57.28 | 2/26/2035 | |||||||||||||||||||||||
C. Cristiano | 3,942 | — | 31.38 | 1/27/2030 | 14,874 | 700,119 | 36,454 | 1,715,890 | ||||||||||||||||||
2,281 | — | 29.50 | 1/25/2031 | |||||||||||||||||||||||
1,297 | 433(5) | 38.19 | 2/7/2032 | |||||||||||||||||||||||
736 | 736(6) | 44.94 | 2/6/2033 | |||||||||||||||||||||||
2,432 | 7,298(7) | 58.00 | 2/28/2034 | |||||||||||||||||||||||
— | 11,782(8) | 57.28 | 2/26/2035 | |||||||||||||||||||||||
P. G. Igoe | 2,048 | 6,145(7) | 58.00 | 2/28/2034 | 15,561 | 732,456 | 27,760 | 1,306,663 | ||||||||||||||||||
— | 8,569(8) | 57.28 | 2/26/2035 | |||||||||||||||||||||||
S. Keayes | 6,146 | 2,049(5) | 38.18 | 2/7/2032 | 8,640 | 406,685 | 23,278 | 1,095,695 | ||||||||||||||||||
3,527 | 3,530(6) | 44.93 | 2/6/2033 | |||||||||||||||||||||||
1,152 | 3,457(7) | 58.00 | 2/28/2034 | |||||||||||||||||||||||
— | 6,962(8) | 57.28 | 2/26/2035 | |||||||||||||||||||||||
K. DiMaurizio | — | 11,758(9) | 66.03 | 10/1/2035 | 10,980 | 516,829 | — | — | ||||||||||||||||||
(1) | Options vest on the dates indicated in the corresponding footnote. See Compensation Discussion and Analysis and below for accelerated vesting provisions. |
44 |
(2) | Figures in this column include time-based RSUs, which were, as of December 31, 2025, scheduled to vest according to the following schedule: |
Vesting Date | Saak | Cristiano | Igoe | Keayes | DiMaurizio | ||||||||||||
February 6, 2026 | 5,563 | 130 | — | 626 | — | ||||||||||||
February 7, 2026 | — | 139 | — | 656 | — | ||||||||||||
February 26, 2026 | 4,059 | 1,200 | 873 | 709 | — | ||||||||||||
February 28, 2026 | 3,879 | 1,024 | 862 | 485 | — | ||||||||||||
March 20, 2026 | — | — | 4,739 | — | — | ||||||||||||
April 20, 2026 | — | 3,300 | — | — | — | ||||||||||||
May 3, 2026 | — | — | — | 813 | — | ||||||||||||
October 1, 2026 | — | — | — | — | 4,259 | ||||||||||||
November 28, 2026 | 13,919 | — | — | — | — | ||||||||||||
February 6, 2027 | 5,566 | 131 | — | 627 | — | ||||||||||||
February 26, 2027 | 4,059 | 1,200 | 873 | 709 | — | ||||||||||||
February 28, 2027 | 3,879 | 1,024 | 862 | 485 | — | ||||||||||||
March 20, 2027 | — | — | 4,744 | — | — | ||||||||||||
April 20, 2027 | — | 3,301 | — | — | — | ||||||||||||
May 3, 2027 | — | — | — | 813 | — | ||||||||||||
October 1, 2027 | — | — | — | — | 4,260 | ||||||||||||
February 26, 2028 | 4,059 | 1,200 | 873 | 709 | — | ||||||||||||
February 28, 2028 | 3,880 | 1,024 | 862 | 485 | — | ||||||||||||
May 3, 2028 | — | — | — | 813 | — | ||||||||||||
October 1, 2028 | — | — | — | — | 1,230 | ||||||||||||
February 26, 2029 | 4,059 | 1,201 | 873 | 710 | — | ||||||||||||
October 1, 2029 | — | — | — | — | 1,231 |
(3) | Computed using a price of $47.07 per share, which was the closing market price of the Company’s stock on the last trading day of 2025. |
(4) | The PRSUs granted in 2024 and 2025 will vest, if at all, on December 31, 2026, and December 31, 2027, respectively, as determined with reference to the percentile ranking of the total stockholder return (share price appreciation plus reinvested dividends), or TSR, of the Company’s common stock for the three-year period ending on that date, as compared to the TSRs of the other companies in the S&P Midcap 400 Capital Goods Group. Pursuant to SEC rules, the hypothetical amounts shown in the table include the PRSUs granted in 2024 and 2025 at maximum payout (200%), based on the Company’s TSR performance as of December 31, 2025. As noted in the Compensation Discussion and Analysis, the PRSUs are subject to a value cap, which limits the maximum value that can be earned under the PRSUs (total shares earned multiplied by the final share price) to four times the original grant value based on target performance and using the 20-day average closing price of the Company’s stock for the 20 trading days immediately prior to the start of the performance period. The value cap for each NEO is as follows: $19,924,366 for Mr. Saak, $4,216,532 for Ms. Cristiano, $3,164,847 for Mr. Igoe, and $2,900,821 for Mr. Keayes. There can be no assurance, however, that the Company’s TSR for a full vesting period will be sufficient for the PRSUs to vest, if at all, at any particular level. The PRSUs granted in 2023 were valued in early 2026, after performance results through December 31, 2025 were certified, at 83.3% of target, and are reflected in the table at that level. See “Elements of Compensation and 2025 Decisions—Long-Term Equity Incentive Compensation” in the Compensation Discussion and Analysis above. |
(5) | This option grant will be 100% vested on February 7, 2026. |
(6) | This option grant will be 75% vested on February 6, 2026, and 100% on February 6, 2027. |
(7) | This option grant will be 50% vested on February 28, 2026; 75% on February 28, 2027; and 100% on February 28, 2028. |
(8) | This option grant will be 25% vested on February 26, 2026; 50% on February 26, 2027; 75% on February 26, 2028; and 100% on February 28, 2029. |
(9) | This option grant will be 25% vested on October 1, 2026; 50% on October 1, 2027; 75% on October 1, 2028; and 100% on October 1, 2029. |
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Option Awards | Stock Awards | |||||||||||||||||||||||||
Name | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable(1) | Option Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#)(2) | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(4) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) | ||||||||||||||||||
C. Cristiano | 3,942 | — | 58.05 | 1/27/2030 | 400 | 73,772 | 1,449 | 267,239 | ||||||||||||||||||
2,281 | — | 54.58 | 1/25/2031 | |||||||||||||||||||||||
1,297 | 433(5) | 70.64 | 2/7/2032 | |||||||||||||||||||||||
736 | 736(6) | 83.14 | 2/6/2033 | |||||||||||||||||||||||
(1) | Options vest on the dates indicated in the corresponding footnote. See Compensation Discussion and Analysis and below for accelerated vesting provisions. |
(2) | Figures in this column include time-based RSUs. The RSUs listed in the column were, as of December 31, 2025, scheduled to vest according to the following schedule: |
Vesting Date | Cristiano | ||||
February 6, 2026 | 130 | ||||
February 7, 2026 | 139 | ||||
February 6, 2027 | 131 | ||||
(3) | Computed using a price of $184.43 per share, which was the closing market price of the Crane Company’s stock on the last trading day of 2025. |
(4) | The value cap applicable to Ms. Cristiano is $272,160. The PRSUs granted in 2023 were valued in early 2026, after performance results through December 31, 2025 were certified, at 138.8% of target, and are reflected in the table at that level. See “Elements of Compensation and 2025 Decisions—Long-Term Equity Incentive Compensation” in the Compensation Discussion and Analysis above. |
(5) | This option grant will be 100% vested on February 7, 2026. |
(6) | This option grant will be 75% vested on February 6, 2026, and 100% on February 6, 2027. |
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Option Awards | Stock Awards | |||||||||||||
Name | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($) | Number of Shares/Units Acquired on Vesting (#) | Value Realized on Vesting ($) | ||||||||||
A. W. Saak | — | — | 23,360 | 1,360,915 | ||||||||||
C. Cristiano(1) | — | — | 8,984 | 719,897 | ||||||||||
P. G. Igoe | — | — | 5,602 | 310,528 | ||||||||||
S. Keayes | 16,599 | 896,402 | 12,996 | 816,246 | ||||||||||
K. DiMaurizio | — | — | — | — | ||||||||||
(1) | Consists of 6,797 shares, representing a value of $363,256, related to Crane NXT stock and 2,187 shares, representing a value of $356,640, related to Crane Company stock. Vesting of Ms. Cristiano’s Crane Company awards is included here because such vesting is contingent on service to Crane NXT. |
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Name | Executive Contributions in 2025 ($) | Employer Contributions in 2025(1) ($) | Aggregate Earnings in 2025(2) ($) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at December 31, 2025 ($) | ||||||||||||
A. W. Saak | — | 36,497 | 3,078 | — | 109,685 | ||||||||||||
C. Cristiano | — | 14,143 | 2,130 | — | 64,801 | ||||||||||||
P. G. Igoe | — | 13,046 | 705 | — | 29,811 | ||||||||||||
S. Keayes | — | — | — | — | — | ||||||||||||
K. DiMaurizio | — | — | — | — | — |
(1) | Amounts in this column are included in “All Other Compensation” in the 2025 Summary Compensation Table. |
(2) | Amounts in this column are not included in the 2025 Summary Compensation Table. |
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Cash Severance Benefit(1) | Continued Benefits(2) | Total | |||||||||
A. W. Saak | $875,000 | $22,712 | $897,712 | ||||||||
C. Cristiano | $520,000 | $22,680 | $542,680 | ||||||||
P. G. Igoe | $505,000 | $16,502 | $521,502 | ||||||||
S. Keayes(3) | $277,809 | — | $277,809 | ||||||||
K. DiMaurizio | $430,000 | $3,937 | $433,937 |
(1) | Represents a single lump sum equal to one year’s base salary except for Mr. Keayes, in which case the amount represents six months’ base salary. |
(2) | Represents continued health and welfare benefits equal to one year following termination. |
(3) | As noted above, Mr. Keayes is a party to an employment contract entitling him to six months’ notice of termination, other than a termination for cause, or payment of six months’ salary in lieu of notice. The payments included in this table reflect this notice-related benefit under Mr. Keayes’s employment contract. |
Pro-rated Annual Bonus(1) | |||||
A. W. Saak | $901,863 | ||||
C. Cristiano | $389,792 | ||||
P. G. Igoe | $331,230 |
(1) | Represents a single lump sum equal to the annual bonus paid to the NEO for the last full fiscal year. |
Cash Severance Benefit(1) | Continued Benefits(2) | Total | |||||||||
A. W. Saak | $6,232,452 | $68,136 | $6,300,588 | ||||||||
C. Cristiano | $2,861,189 | $68,039 | $2,929,228 | ||||||||
P. G. Igoe | $2,839,920 | $49,505 | $2,889,425 |
(1) | Represents a lump sum payment equal to (1) a pro-rated bonus calculated as the greater of (i) the annual bonus of the most recently completed fiscal year or (ii) the average bonus paid or payable to the NEO for the three fiscal years immediately preceding 2025, multiplied by a fraction of the current fiscal year completed as of the date of termination, plus (2) three times the sum of (i) the annual base salary and (ii) such average annual bonus. Where a three-year average annual bonus was not available, the annual bonus of the most recently completed fiscal year (i.e., 2025) was used. |
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(2) | Represents continued benefits for the remainder of the change in control period (assumed to be three years for purposes of this disclosure). |
Equity Awards(1) | |||||
A. W. Saak | $10,912,532 | ||||
C. Cristiano | $2,886,253 | ||||
P. G. Igoe | $2,039,119 | ||||
S. Keayes | $1,528,139 | ||||
K. DiMaurizio | $516,829 |
(1) | The award agreements with each NEO provide for accelerated vesting of RSUs and options upon disability or death. Performance-based RSUs will remain outstanding pursuant to their terms and will vest based on actual achievement at the end of the relevant performance period. The amounts in the table above represent the number of shares of unvested RSUs (with 2024 and 2025 performance-based awards vesting at maximum and 2023 performance-based awards vesting at actual levels) multiplied by a stock price of $47.07 per share for awards covering Crane NXT stock and $184.43 per share for awards covering Crane Company stock, which were the closing market prices for each company’s stock on the last trading day of 2025, as well as the spread of such options based on such stock prices. |
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• | The median of the annual total compensation of all of our employees, including our consolidated subsidiaries, was approximately $71,793. This annual total compensation is calculated in accordance with Item 402(c)(2)(x) of Regulation S-K, and reflects, among other things, salary and bonus earned during the 12-month period ended December 31, 2025. |
• | Mr. Saak’s annual total compensation, as reported in the Summary Compensation Table included in this proxy statement, was $6,886,338. We used this value for the ratio of annual total compensation for our CEO to the annual total compensation for our median employee. |
• | Based on the above, for fiscal 2025, the ratio of Mr. Saak’s annual total compensation to the median of the annual total compensation of all employees was approximately 96 to 1. |
• | We determined the median of the annual total compensation of our employees as of December 31, 2025. As of that date, we, including our consolidated subsidiaries, employed approximately 4,603 full-time and part-time employees. As a result of our employee population during fiscal year 2025, including the OpSec acquisition, we re-identified our median employee for purposes of the CEO pay ratio disclosure for the current year. |
• | Compensation paid in foreign currency was converted to U.S. dollars using a spot exchange rate on December 31, 2025. In determining the median total compensation of all employees, we did not make any cost-of-living adjustments to the compensation paid to any employee outside of the United States. |
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Fiscal Year | Summary Compensation Table Total for First PEO(1) ($) | Summary Compensation Table Total for Second PEO(1) ($) | Compensation Actually Paid to First PEO(1)(2)(3) ($) | Compensation Actually Paid to Second PEO(1)(2)(3) ($) | Average Summary Compensation Table Total for Non-PEO NEOs(1) ($) | Average Compensation Actually Paid to Non-PEO NEOs(1)(2)(3) ($) | Value of Initial Fixed $100 Investment Based On:(4) | |||||||||||||||||||||||||
Total Shareholder Return ($) | Peer Group Total Shareholder Return(4) ($) | Net Income in millions(5) ($) | Adjusted Operating Profit in millions(6) ($) | |||||||||||||||||||||||||||||
2025 | ||||||||||||||||||||||||||||||||
2024 | ||||||||||||||||||||||||||||||||
2023 | ||||||||||||||||||||||||||||||||
2022 | ||||||||||||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||||||||
(1) | Former Chief Executive Officer |
2021 | 2022 | 2023 | 2024 | 2025 | ||||||||
Richard A. Maue | Richard A. Maue | Richard A. Maue | Christina Cristiano | Christina Cristiano | ||||||||
Kurt F. Gallo | Aaron W. Saak | Paul G. Igoe | Kurt F. Gallo | Paul G. Igoe | ||||||||
Anthony M. D’Iorio | Kurt F. Gallo | Christina Cristiano | Paul G. Igoe | Samuel Keayes | ||||||||
Alejandro Alcala | Anthony M. D’Iorio | Jennifer Kartono | Jennifer Kartono | Kimberly DiMaurizio | ||||||||
Kurt F. Gallo | Samuel Keayes | |||||||||||
(2) | The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized or received by the Company’s NEOs. These amounts reflect the Summary Compensation Tables Total with certain adjustments as described in footnote 3 below. |
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(3) | Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Options Awards columns set forth in the Summary Compensation Table. |
Fiscal Year | Summary Compensation Table Total for Second PEO ($) | Exclusion of Stock Awards and Option Awards for Second PEO ($) | Inclusion of Equity Values for Second PEO(a) ($) | Compensation Actually Paid to Second PEO ($) | ||||||||||
2025 | ( | ( | ||||||||||||
Fiscal Year | Average Summary Compensation Table Total for non-PEO NEOs ($) | Average Exclusion of Stock Awards and Option Awards for non-PEO NEOs ($) | Average Inclusion of Equity Values for non-PEO NEOs(a) ($) | Average Compensation Actually Paid to non-PEO NEOs ($) | ||||||||||
2025 | ( | |||||||||||||
(a) | The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: |
Fiscal Year | Year-End Fair Value of Equity Awards Granted During Year that Remained Unvested as of Last Day of Year for Second PEO ($) | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Second PEO ($) | Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for Second PEO ($) | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Second PEO ($) | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Second PEO ($) | Value of Dividends or Other Earnings Paid on Equity Awards not Otherwise Included for Second PEO ($) | Total – Inclusion of Equity Values for Second PEO | ||||||||||||||||
2025 | ( | ( | |||||||||||||||||||||
Fiscal Year | Average Year-End Fair Value of Equity Awards Granted During Year that Remained Unvested as of Last Day of Year for non-PEO NEOs ($) | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for non-PEO NEOs ($) | Average Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for non-PEO NEOs ($) | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for non-PEO NEOs ($) | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for non-PEO NEOs ($) | Average Value of Dividends or Other Earnings Paid on Equity Awards not Otherwise Included for non-PEO NEOs ($) | Total – Average Inclusion of Equity Values for non-PEO NEOs | ||||||||||||||||
2025 | ( | ( | |||||||||||||||||||||
(4) | The Peer Group TSR set forth in this table utilizes the S&P MidCap 400 Capital Goods Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting December 31, 2020 through the end of the listed year in the Company and in the S&P 400 MidCap Capital Goods Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. |
(5) | The dollar amounts reported represent the amount of net income as required to be reflected in the Company’s audited financial statements for the applicable year. |
(6) | We determined |
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BENEFICIAL OWNERSHIP OF COMMON STOCK BY DIRECTORS AND MANAGEMENT | ||||||
Amount and Nature of Beneficial Ownership | |||||||||||||||||||||||
Title of Class | Name of Beneficial Owner | Shares Owned Directly or Beneficially(1) | Stock Options, DSUs, and RSUs that Have Vested or Will Vest Within 60 Days | Shares in Company Savings Plan (401(k)) | Total Shares Beneficially Owned | Percent of Class | Share Units Under Incentive Stock Plans Vesting After 60 Days(2) | ||||||||||||||||
Common Stock | J. Benck | — | — | — | — | * | — | ||||||||||||||||
M. Dinkins | — | 15,735 | — | 15,735 | * | — | |||||||||||||||||
W. Grogan | — | 9,932 | — | 9,932 | * | — | |||||||||||||||||
S. Joyce | — | 5,575 | — | 5,575 | * | — | |||||||||||||||||
C. Kogl | 1,000 | 10,571 | — | 11,571 | * | — | |||||||||||||||||
E. McClain | — | 28,977 | — | 28,977 | * | — | |||||||||||||||||
D. Petratis | — | 10,353 | — | 10,353 | * | — | |||||||||||||||||
J. S. Stroup | — | 16,817 | — | 16,817 | * | — | |||||||||||||||||
A. W. Saak | 40,595 | 176,638 | — | 217,233 | * | 59,021 | |||||||||||||||||
J. L. L. Tullis | 2,221 | 37,073 | — | 39,294 | * | — | |||||||||||||||||
C. Cristiano | 9,498 | 20,167 | — | 29,665 | * | 15,206 | |||||||||||||||||
P. G. Igoe | 11,723 | 6,238 | — | 17,961 | * | 13,007 | |||||||||||||||||
S. Keayes | 23,017 | 18,343 | — | 41,360 | * | 8,536 | |||||||||||||||||
K. DiMaurizio | — | — | — | — | * | 14,165 | |||||||||||||||||
Total—Directors and Executive Officers as a Group (15 persons) | 92,107 | 363,669 | — | 455,777 | * | 112,852 | |||||||||||||||||
* | Less than one percent. |
(1) | Includes shares that are owned directly, and shares that are owned by trusts or by family members and are attributable to the director or officer pursuant to Rule 13d-3 under the Exchange Act. |
(2) | Includes time-based RSUs vesting more than 60 days after the Record Date, which are subject to vesting as shown in footnote 2 to the 2025 Outstanding Equity Awards at Fiscal Year-End table above, and are subject to forfeiture if established service conditions are not met. Performance-based RSUs, which will vest, if at all, on December 31, 2026, and December 31, 2027, are not included. Also includes DSUs and corresponding dividends vesting on May 22, 2026 for each Director. For more information, see “Director Compensation in 2025” above. |
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PRINCIPAL STOCKHOLDERS OF CRANE NXT, CO. | ||||||
Title of Class | Name and Address of Beneficial Owner | Amount and Nature of Beneficial Ownership | Percent of Class | ||||||||
Common Stock | FMR, LLC(1) 245 Summer Street Boston, MA 02210 | 8,140,265 | 14.1% | ||||||||
Common Stock | The Crane Fund(2) 140 Sylvan Ave #5 Englewood Cliffs, NJ 07632 | 7,778,416 | 13.5% | ||||||||
Common Stock | The Vanguard Group(3) 100 Vanguard Blvd. Malvern, PA 19355 | 5,508,871 | 9.6% | ||||||||
Common Stock | BlackRock, Inc.(4) 55 East 52nd Street New York, NY 10022 | 4,121,002 | 7.2% | ||||||||
Common Stock | Wellington Management Group LLP(5) 280 Congress Street Boston, MA 02210 | 3,668,953 | 6.4% |
(1) | As reported in a Schedule 13G/A filed on February 9, 2024, by FMR LLC, directly and on behalf of Abigail P. Johnson and certain subsidiaries, giving information on shareholdings as of December 29, 2023. According to the Schedule 13G/A, FMR LLC, a parental holding company, has sole voting power over 8,111,781 shares and sole dispositive power over 8,140,265 shares of Crane NXT, Co. stock. |
(2) | The Crane Fund, a trust established for the benefit of former employees in need (the “Crane Fund”), is managed by trustees appointed by the Board of Crane Company. The incumbent trustees are A. M. D’Iorio, T. A. Polmanteer, and J. Feldman, none of whom are executive officers of Crane NXT. Pursuant to the trust instrument, the shares held by the trust are voted by the trustees as directed by the Crane Company Board, the distribution of the income of the trust for its intended purposes is subject to the control of the Crane Company Board and the shares may be sold by the trustees only upon the direction of the Crane Company Board. None of the directors or the trustees has any direct beneficial interest in, and all disclaim beneficial ownership of, shares held by The Crane Fund. |
(3) | As reported in a Schedule 13G/A filed on September 10, 2024, by The Vanguard Group, giving information on shareholdings as of August 30, 2024. According to the Schedule 13G/A, The Vanguard Group, an investment adviser, has shared voting power over 16,488 shares, sole dispositive power over 5,833,372 shares, and shared dispositive power over 65,525 shares of Crane NXT, Co. stock. |
(4) | As reported in a Schedule 13G/A filed on January 26, 2024, by BlackRock, Inc., giving information on shareholdings as of December 29, 2023. According to the Schedule 13G/A, BlackRock, Inc., a parent holding company or control person, has sole voting power over 4,020,369 shares and sole dispositive power over 4,121,002 shares of Crane NXT, Co. stock. |
(5) | As reported in a Schedule 13G filed on May 12, 2025 by Wellington Management Group LLP, giving information on shareholdings as of March 31, 2025. According to the Schedule 13G, Wellington Management Group LLP, a parent holding company or control person, has shared voting power over 2,852,856 shares and shared dispositive power over 3,668,953 shares of Crane NXT, Co. stock. |
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NON-GAAP INFORMATION | ||||||
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QUESTIONS AND ANSWERS ABOUT THESE PROXY MATERIALS AND THE ANNUAL MEETING | ||||||
(1) | the election of each of Jeffrey Benck, Michael Dinkins, William Grogan, Sandra Joyce, Cristen Kogl, Ellen McClain, David D. Petratis, Aaron W. Saak, and John S. Stroup to the Board, |
(2) | a proposal to ratify the selection of Deloitte & Touche LLP as our independent auditors for 2026, and |
(3) | a proposal to approve, by a non-binding advisory vote, the compensation paid by the Company to its NEOs. |
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