10 results
DEF 14A
CR
Crane Co
7 Mar 24
Definitive proxy
5:02pm
The table below summarizes the compensation for 2023, 2022 and 2021 earned by Crane Company’s Chief Executive Officer, its Chief Financial Officer, and each of the three other most highly paid executive officers (as determined pursuant to SEC rules) as employees of Crane Company, and, prior to the separation, as employees of Crane Holdings, Co.
| Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards ($)(1) | Option Awards ($)(2) | Non-Equity Incentive Plan Compensation ($)(3) | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($)(4) | All Other Compensation ($)(5) | Total ($) | |||||||||||||||||||||||||||
| Max H. Mitchell President and Chief Executive Officer | 2023 | 1,200,000 | — | 4,557,813 | 1,340,013 | 2,610,720 | 100,402 | 256,079 | 10,065,027 | |||||||||||||||||||||||||||
| 2022 | 1,200,000 | — | 4,569,575 | 1,339,997 | 1,919,520 | — | 287,464 | 9,316,556 | ||||||||||||||||||||||||||||
| 2021 | 1,177,990 | — | 3,956,400 | 1,274,996 | 2,880,000 | — | 195,104 | 9,484,490 | ||||||||||||||||||||||||||||
| Richard A. Maue Executive Vice President and Chief Financial Officer | 2023 | 759,714 | — | 1,093,630 | 324,980 | 1,175,877 | — | 89,477 | 3,443,678 | |||||||||||||||||||||||||||
| 2022 | 717,209 | — | 1,096,141 | 325,002 | 767,644 | — | 104,466 | 3,010,462 | ||||||||||||||||||||||||||||
| 2021 | 681,258 | — | 966,767 | 312,508 | 1,028,352 | — | 70,313 | 3,059,198 | ||||||||||||||||||||||||||||
| Anthony M. D’Iorio Executive Vice President, General Counsel and Secretary | 2023 | 573,503 | — | 757,141 | 225,006 | 785,314 | 26,168 | 64,678 | 2,431,810 | |||||||||||||||||||||||||||
| 2022 | 523,115 | — | 674,495 | 200,002 | 489,913 | — | 69,267 | 1,956,792 | ||||||||||||||||||||||||||||
| 2021 | 494,740 | — | 541,368 | 174,992 | 700,050 | — | 51,491 | 1,962,641 | ||||||||||||||||||||||||||||
| Alejandro A. Alcala Executive Vice President | 2023 | 586,823 | 630,942 | 187,505 | 815,850 | — | 63,545 | 2,284,665 | ||||||||||||||||||||||||||||
| 2022 | 498,874 | — | 590,218 | 175,001 | 542,611 | — | 66,327 | 1,873,032 | ||||||||||||||||||||||||||||
| 2021 | 463,894 | — | 464,053 | 150,008 | 656,033 | — | 49,470 | 1,783,458 | ||||||||||||||||||||||||||||
| Tamara S. Polmanteer Executive Vice President and Chief Human Resources Officer | 2023 | 456,960 | — | 504,721 | 150,004 | 582,060 | — | 59,043 | 1,752,788 | |||||||||||||||||||||||||||
| 2022 | 435,748 | — | 505,922 | 150,001 | 407,578 | — | 70,356 | 1,569,605 | ||||||||||||||||||||||||||||
DEF 14A
CR
Crane Co
7 Mar 24
Definitive proxy
5:02pm
2023 Executive Compensation Tables
| 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. A. Alcala | Crane Company | 2,293 | — | 30.26 | 1/25/2026 | 4,081 | 482,129 | 19,927 | 2,354,176 | |||||||||||||||||||||||||||||
| 12,134 | — | 51.32 | 1/30/2027 | — | — | — | — | |||||||||||||||||||||||||||||||
| 8,657 | — | 64.86 | 1/29/2028 | — | — | — | — | |||||||||||||||||||||||||||||||
| 11,083 | — | 54.96 | 1/28/2029 | — | — | — | — | |||||||||||||||||||||||||||||||
| 9,855 | 3,286 | (5) | 58.05 | 1/27/2030 | — | — | — | — | ||||||||||||||||||||||||||||||
| 3,602 | 3,603 | (6) | 54.58 | 1/25/2031 | — | — | — | — | ||||||||||||||||||||||||||||||
| 1,345 | 4,038 | (7) | 70.64 | 2/7/2032 | — | — | — | — | ||||||||||||||||||||||||||||||
| — | 4,415 | (8) | 83.14 | 2/6/2033 | — | — | — | — | ||||||||||||||||||||||||||||||
| Crane NXT, Co. | — | 3,286 | (5) | 31.38 | 1/27/2030 | 4,081 | 232,086 | 20,587 | 1,170,783 | |||||||||||||||||||||||||||||
| — | 3,603 | (6) | 29.50 | 1/25/2031 | — | — | — | — | ||||||||||||||||||||||||||||||
| 1,345 | 4,038 | (7) | 38.19 | 2/7/2032 | — | — | — | — | ||||||||||||||||||||||||||||||
| — | 4,415 | (8) | 44.94 | 2/6/2033 | — | — | — | — | ||||||||||||||||||||||||||||||
| T. S. Polmanteer | Crane Company | 1,153 | 3,461 | (7) | 70.64 | 2/7/2032 | 4,982 | 588,573 | 10,910 | 1,288,907 | ||||||||||||||||||||||||||||
| — | 3,532 | (8) | 83.14 | 2/6/2033 | — | — | — | — | ||||||||||||||||||||||||||||||
| Crane NXT, Co. | 1,153 | 3,461 | (7) | 38.19 | 2/7/2032 | 4,982 | 283,326 | 10,910 | 620,452 | |||||||||||||||||||||||||||||
| — | 3,532 | (8) | 44.94 | 2/6/2033 | — | — | — | — | ||||||||||||||||||||||||||||||
DEF 14A
CR
Crane Co
7 Mar 24
Definitive proxy
5:02pm
| Year | Salary | Bonus and Non-Equity Incentive Compensation | All Other Compensation (i) | Stock Awards (ii) | Options Awards (ii) | Change in Pension Value and Nonqualified Deferred Compensation Earnings (ii) | SCT Total | Deductions from SCT Total (ii) | Additions to SCT Total (iii) | CAP | ||||||||||||||||||||||||||||||
| 2023 | $ | 1,200,000 | $ | 2,610,720 | $ | 256,079 | $ | 4,557,813 | $ | 1,340,013 | $ | 100,402 | $ | 10,065,027 | ($ | 5,998,228 | ) | $ | 29,459,761 | $ | 33,526,560 | |||||||||||||||||||
DEF 14A
CR
Crane Co
7 Mar 24
Definitive proxy
5:02pm
In February 2023, the Crane Holdings’ Compensation Committee established an EPS target of $3.44 to align with our annual operating plan. The Crane Holdings’ Compensation Committee also established a payout range for EPS from $2.75 (0% payout) to $4.12 (200% payout). For free cash flow, the Committee established a target of $161.4 million with a payout range from $113.0 million (0% payout) to $209.8 million (200% payout). Actual performance compared to annual incentive objectives for this group were as follows:
| Corporate Objectives | Target ($) | Actual ($) | Performance relative to Target Range | Weight | Calculated Payout (%) | |||||||||||||||
| Adjusted EPS | 3.44 | 4.16 | 200% | 75% | 150.0% | |||||||||||||||
| Adjusted free cash flow | 161.4M | 173.0M | 125% | 25% | 31.3% | |||||||||||||||
| Weighted payout % | 181.3% | |||||||||||||||||||
DEF 14A
CR
Crane Co
7 Mar 24
Definitive proxy
5:02pm
The column headed “Grant Date Fair Value of Stock and Option Awards” shows the grant date fair value of the TRSUs, PRSUs and stock options originally granted by Crane Holdings in 2023. These amounts also appears in the “2023 Summary Compensation Table” under the respective headings “Stock Awards” and “Option Awards”; see footnote 1 and 2 to the “2023 Summary Compensation Table” on page 65. The value of any awards at vesting may be higher or lower than the grant date fair value.
| Type of Award | Grant Date(1) | Approval Date | Estimated possible payouts under non-equity incentive plan awards(2) ($) | Estimated future payouts under equity incentive plan awards(3) (#) | All Other Stock Awards: Number of shares of stock or units (#) | All other option awards: Number of securities underlying options (#) | Exercise or base price of option awards ($/sh)(4) | Grant date fair value of stock and option awards ($)(5) | ||||||||||||||||||||||||||||||||||||||||||||||||
| Name | Threshold | Target | Max. | Threshold | Target | Max. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| M. H. Mitchell | AIP | — | 1,440,000 | 2,880,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| PRSU | 2/6/2023 | 1/23/2023 | 6,157 | 24,626 | 49,252 | 3,485,810 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| TRSU | 2/6/2023 | 1/23/2023 | 8,955 | 1,072,003 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Options | 2/6/2023 | 1/23/2023 | 31,552 | 119.71 | 1,340,013 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| R. A. Maue | AIP | — | 648,581 | 1,297,162 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| PRSU | 2/6/2023 | 1/23/2023 | 1,358 | 5,430 | 10,860 | 768,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| TRSU | 2/6/2023 | 1/23/2023 | 2,715 | 325,013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Options | 2/6/2023 | 1/23/2023 | 7,652 | 119.71 | 324,980 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| A. M. D’Iorio | AIP | — | 433,157 | 866,314 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| PRSU | 2/6/2023 | 1/23/2023 | 940 | 3,759 | 7,518 | 532,086 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| TRSU | 2/6/2023 | 1/23/2023 | 1,880 | 225,055 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Options | 2/6/2023 | 1/23/2023 | 5,298 | 119.71 | 225,006 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| A. A. Alcala | AIP | — | 450,000 | 900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| PRSU | 2/6/2023 | 1/23/2023 | 783 | 3,133 | 6,266 | 443,476 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| TRSU | 2/6/2023 | 1/23/2023 | 1,566 | 187,466 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Options | 2/6/2023 | 1/23/2023 | 4,415 | 119.71 | 187,505 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| T. S. Polmanteer | AIP | — | 321,048 | 642,096 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| PRSU | 2/6/2023 | 1/23/2023 | 627 | 2,506 | 5,012 | 354,724 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| TRSU | 2/6/2023 | 1/23/2023 | 1,253 | 149,997 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Options | 2/6/2023 | 1/23/2023 | 3,532 | 119.71 | 150,004 | |||||||||||||||||||||||||||||||||||||||||||||||||||
DEF 14A
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7 Mar 24
Definitive proxy
5:02pm
DEF 14A
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7 Mar 24
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5:02pm
DEF 14A
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7 Mar 24
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5:02pm
DEF 14A
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7 Mar 24
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DEF 14A
dv4px5d
7 Mar 24
Definitive proxy
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