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Insider Trends: Crane Co Insider Converts Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact

05/11/2021 15:05

06:50 PM EDT, 05/11/2021 (MT Newswires) -- Max H Mitchell, Director and President & CEO, exercised options/derivative securities for 92,283 shares of Crane Co (CR) and sold 73,835 shares in the company for $7,324,432 to meet tax obligations on May 07, 2021. After accounting for tax obligations this transaction resulted in a net acquisition of 18,448 company shares. After the Form 4 filing with the SEC, Mitchell controls 250,645 company shares of which 247,811 shares are held directly and 2,834 are owned indirectly. These holdings have an approximate market value of $24.7 million as of the prior-day closing price.

Over the last 90 days, previous to the date of this filing, there have been 9 insider transactions reported to the SEC for Crane Co. These transactions came from the activities of 4 separate insiders that resulted in a net acquisition of 16,117 company shares. Relative to the preceding 90-day window of time, there were 47 transactions from 10 insiders and resulted in the net acquisition of 4,693 shares.

This is a lower level of transactions than the peer group average in the 51-company Industrial Machinery & Equipment peer group over the last 90-day period. Peer group activity averaged 131.5 transactions per company, and disposition of 113,536 shares on average.

SEC Story Link http://www.sec.gov/Archives/edgar/data/25445/000002544521000105/xslF345X03/wf-form4_162077327971957.xml

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