<SEC-DOCUMENT>0000025445-20-000006.txt : 20200129
<SEC-HEADER>0000025445-20-000006.hdr.sgml : 20200129
<ACCEPTANCE-DATETIME>20200129182056
ACCESSION NUMBER:		0000025445-20-000006
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200125
FILED AS OF DATE:		20200129
DATE AS OF CHANGE:		20200129

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Maue Richard A
		CENTRAL INDEX KEY:			0001331850

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01657
		FILM NUMBER:		20559324

	MAIL ADDRESS:	
		STREET 1:		C/O PAXAR CORPORATION
		STREET 2:		105 CORPORATE PARK DRIVE
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CRANE CO /DE/
		CENTRAL INDEX KEY:			0000025445
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
		IRS NUMBER:				131952290
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		CRANE CO.
		STREET 2:		100 FIRST STAMFORD PLACE
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902
		BUSINESS PHONE:		203-363-7300

	MAIL ADDRESS:	
		STREET 1:		CRANE CO.
		STREET 2:		100 FIRST STAMFORD PLACE
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902
</SEC-HEADER>
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<SEQUENCE>1
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<DESCRIPTION>FORM 4
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        <issuerName>CRANE CO /DE/</issuerName>
        <issuerTradingSymbol>CR</issuerTradingSymbol>
    </issuer>

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            <rptOwnerName>Maue Richard A</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet1>100 FIRST STAMFORD PLACE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06902-6784</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Sr. V.P. &amp; CFO</officerTitle>
            <otherText></otherText>
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    <derivativeTable>
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                <underlyingSecurityTitle>
                    <value>CRANE CO. COMMON, PAR VALUE $1.00</value>
                </underlyingSecurityTitle>
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                    <value>775.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>5797</value>
                </sharesOwnedFollowingTransaction>
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                    <value>D</value>
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            <transactionAmounts>
                <transactionShares>
                    <value>2154</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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        <derivativeTransaction>
            <securityTitle>
                <value>2017 Performance-Based Restricted Share Unit</value>
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            <transactionAmounts>
                <transactionShares>
                    <value>6250</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
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    <footnotes>
        <footnote id="F1">On January 25, 2020, 775 Restricted Share Units, each of which represent the right to receive one share of Crane Co. Common Stock, previously reported as beneficially owned by the reporting person, vested due to the passage of time, and 284 shares were withheld to pay taxes on the resulting gain, resulting in a net issuance of 491 shares of Crane Co. Common Stock.</footnote>
        <footnote id="F2">Each 2017 Performance-Based RSU granted in January 2017 represented a contingent right to receive a number of shares of Crane Co. Common Stock between zero and 1.75 to be determined with reference to the Total Shareholder Return of Crane Co.'s Common Stock compared to that of companies in the S&amp;P MidCap 400 Capital Goods Group during the period beginning January 1, 2017 and ending December 31, 2019.  On January 28, 2020, each Performance-Based RSU was converted to the right to receive .613 shares of Common Stock.</footnote>
        <footnote id="F3">6,250 Performance-Based RSUs granted in January 2017 were converted on January 27, 2020 into the right to receive 3,831 shares of Common Stock.  1,210 shares were surrendered to pay taxes on the resulting gain, resulting in a net issuance of 2,621 shares.</footnote>
        <footnote id="F4">Each Restricted Share Unit represents the right to receive one share of Crane Co. Common Stock if the recipient remains employed by the Company upon expiration of the time-based restrictions, or upon retirement, death, permanent disability, or in the event of a change in control of the Company.</footnote>
        <footnote id="F5">25% of the Restricted Share Units granted will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant date (January 25, 2016), provided the recipient remains employed by the Company; all Restricted Share Units will be converted into shares of Common Stock upon retirement, death, permanent disability, or in the event of a change in control of the Company.</footnote>
        <footnote id="F6">A Restricted Share Unit is forfeited if the recipient resigns, or employment is terminated, before it has been converted to Common Stock.</footnote>
        <footnote id="F7">25% of the Restricted Share Units granted will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant date (January 27, 2020), provided the recipient remains employed by the Company, or retires after age 65, or after age 62 with ten years of service; all Restricted Share Units will be converted into shares of Common Stock upon death or  permanent disability, or if employment is involuntarily terminated within two years after a change in control of the Company.</footnote>
        <footnote id="F8">Options become exercisable 25% on the first anniversary, 50% on the second anniversary, 75% on the third anniversary and 100% on the fourth anniversary  of the date of grant.</footnote>
        <footnote id="F9">Each 2020 Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 2.00, depending upon the Total Shareholder Return of Crane Co.'s common stock compared to that of the companies in the S&amp;P MidCap 400 Capital Goods Group during the period beginning January 1, 2020 and ending December 31, 2022.</footnote>
        <footnote id="F10">Assuming the performance conditions specified in footnote x are met, the Performance-Based RSUs will vest on December 31, 2022, if the recipient remains employed by the Company; or has died or become permanently disabled; or has retired at age 65 (or age 62 with ten years of service) subject to a non-competition condition. In the event of a change in control of the Company, the vesting percentage would be determined as of the date of the change in control, although the date of vesting would remain December 31, 2022.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Attorney In Fact, Anthony M. D'Iorio</signatureName>
        <signatureDate>2020-01-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
