Crane Co. Appoints New CFO, Details Compensation
Ticker: CR · Form: 8-K · Filed: Jun 6, 2024 · CIK: 1944013
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
Crane Co. just hired a new CFO, Jennifer Weeden, starting June 10th. She's getting $525k base + bonus + $1.5M in stock.
AI Summary
Crane Co. announced on June 5, 2024, the appointment of Ms. Jennifer L. Weeden as Chief Financial Officer, effective June 10, 2024. Ms. Weeden will receive an annual base salary of $525,000 and will be eligible for a discretionary annual bonus with a target of 100% of her base salary. She will also receive a one-time grant of restricted stock units valued at $1,500,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy. The disclosed compensation package provides insight into how the company values this key executive role.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and compensation, which is standard corporate activity and does not inherently present significant new risks.
Key Numbers
- $525,000 — CFO Base Salary (Annual compensation for Jennifer L. Weeden)
- $1,500,000 — CFO Stock Grant (One-time restricted stock unit award to Jennifer L. Weeden)
Key Players & Entities
- Crane Co. (company) — Registrant
- Jennifer L. Weeden (person) — Appointed Chief Financial Officer
- $525,000 (dollar_amount) — Annual base salary for new CFO
- 100% (dollar_amount) — Target annual bonus percentage for new CFO
- $1,500,000 (dollar_amount) — Value of restricted stock units granted to new CFO
- June 10, 2024 (date) — Effective date of CFO appointment
FAQ
What is Jennifer L. Weeden's target annual bonus?
Ms. Weeden is eligible for a discretionary annual bonus with a target of 100% of her base salary.
When does Jennifer L. Weeden's appointment as CFO become effective?
Ms. Weeden's appointment as Chief Financial Officer is effective June 10, 2024.
What is the value of the restricted stock units granted to Ms. Weeden?
Ms. Weeden will receive a one-time grant of restricted stock units valued at $1,500,000.
What is Ms. Weeden's annual base salary?
Ms. Weeden's annual base salary is $525,000.
What other compensation elements are included for the new CFO?
In addition to her base salary and stock grant, Ms. Weeden is eligible for a discretionary annual bonus.
Filing Stats: 499 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-06-06 16:49:32
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 CR New York Stock Exchange Indicate b
Filing Documents
- cr-20240605.htm (8-K) — 33KB
- pressrelease-stroup.htm (EX-99.1) — 5KB
- logoa.jpg (GRAPHIC) — 5KB
- 0001628280-24-027098.txt ( ) — 168KB
- cr-20240605.xsd (EX-101.SCH) — 2KB
- cr-20240605_lab.xml (EX-101.LAB) — 21KB
- cr-20240605_pre.xml (EX-101.PRE) — 12KB
- cr-20240605_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers
Item 5.02 Departure of Directors or Certain Officers On June 4, 2024, John S. Stroup, a current member of the Crane Company (the "Company") Board of Directors, notified the Board of his intention to resign from the Board, effective as of July 22, 2024 due to additional professional commitments including his election to Partner at Clayton, Dubilier & Rice, a private investment firm. The Board accepted John's resignation on June 5, 2024. A copy of the Company's press release announcing Mr. Stroup's resignation is attached hereto as Exhibit 99.1. SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (a) None (b) None (c) None (d) Exhibits 99.1 Press Release, dated June 6 , 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CRANE COMPANY June 6, 2024 By: /s/ Anthony M. D'lorio Anthony M. D'lorio Executive Vice President, General Counsel and Secretary 3