Form 4: Crane NXT, Co. Executive Sells Shares and Exercises Stock Options
SEC Form 4 Filing
Kurt F. Gallo, Senior Vice President of Crane NXT, Co., executed multiple transactions involving the company's common stock on August 23, 2024, including exercising employee stock options and selling shares.
Summary
- On August 23, 2024, Kurt F. Gallo, a Senior Vice President at Crane NXT, Co., engaged in transactions involving the company's common stock.
- Gallo exercised employee stock options to acquire a total of 30,299 shares at prices ranging from $27.74 to $44.94.
- Simultaneously, Gallo sold 30,299 shares of common stock at a weighted average price of $58.21.
- Following these transactions, Gallo directly owns no shares of common stock, but indirectly owns 1,458 shares through a 401(k) and 34,132 shares through the Kurt Gallo Living Trust.
- Gallo also holds derivative securities in the form of employee stock options.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions. It doesn't inherently convey positive or negative sentiment about the company's performance or future prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock options as part of their compensation. The market will likely interpret this as a standard part of executive compensation and portfolio management.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but it is unlikely to be significant given the volume of shares traded daily.
Key Dates
| Date | Description |
|---|---|
| 01/30/2017 | Options granted with a ten-year term and vest 25% each year over four years. |
| 01/28/2019 | Options granted with a ten-year term and vest 25% each year over four years. |
| 01/27/2020 | Options granted with a ten-year term and vest 25% each year over four years. |
| 01/25/2021 | Options granted with a ten-year term and vest 25% each year over four years. |
| 02/07/2022 | Options granted with a ten-year term and vest 25% each year over four years. |
| 02/06/2023 | Options granted with a ten-year term and vest 25% each year over four years. |
| 08/23/2024 | Date of transaction: exercise of stock options and sale of shares. |
| 08/27/2024 | Date of signature on the Form 4 filing. |
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