Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Crane Co. common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol "CR". As of December 31, 2021, there were 1,683 holders of record of Crane Co. common stock.
Stock Performance Graph
The following chart compares the total stockholder returns (stock price increase plus reinvested dividends) on our common stock from December 31, 2016 through December 31, 2021 with the total stockholder returns for the S&P 500 Index and the S&P MidCap Capital Goods Index. The graph assumes that the value of the investment in the common stock and each index was $100 on December 31, 2016 and that all dividends were reinvested.
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Purchases of Equity Securities
On October 25, 2021, the Company announced that its Board of Directors authorized the Company to purchase up to $300 million of its common stock through a share repurchase program (the “Program”) that calls for shares to be purchased in the open market from time-to-time at prevailing prices in accordance with federal securities laws. The Program expires on April 22, 2022. The following table only includes the open market repurchases of our common stock during the three months ended December 31, 2021.
Total number
of shares
purchased (a)
Average
price paid per
share (b)
Total number of
shares purchased
as part of publicly
announced plans
or programs Maximum
dollar value of
shares that may yet
be purchased under
the plans or
programs (in millions)
October 1-31 11,296 $ 103.46 11,296 $ 298.8
November 1-30 457,173 $ 104.51 468,469 $ 251.1
December 1-31 490,944 $ 99.78 959,413 $ 202.1
Total October 1 — December 31, 2021 959,413 $ 102.08
(a) Shares repurchased are based on the trade date
(b) Excludes any fees, commissions or other expenses associated with share repurchases
We routinely receive shares of our common stock as payment for stock option exercises and the withholding taxes due on stock option exercises and the vesting of restricted share units from stock-based compensation program participants.
Equity Compensation Plans
For information regarding equity compensation plans, see Item 12 of this annual report on Form 10-K.
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.