Insider Trends: Crane Co Insider Converts Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact
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
This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.