SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Switter Edward S (Last) (First) (Middle) 100 FIRST STAMFORD PLACE (Street) STAMFORD CT 06902-6784 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 04/18/2011	3. Issuer Name and Ticker or Trading Symbol CRANE CO /DE/ [ CR ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Vice President - Taxes	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
CRANE CO. COMMON, PAR VALUE $1.00	2,991	D
CRANE CO. COMMON, PAR VALUE $1.00	724	I	401(K)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	(1)	01/26/2015	CRANE CO. COMMON, PAR VALUE $1.00	4,000	$16.43	D
Employee Stock Option (Right to Buy)	(2)	01/25/2016	CRANE CO. COMMON, PAR VALUE $1.00	5,000	$31.94	D
Employee Stock Option (Right to Buy)	(3)	04/19/2016	CRANE CO. COMMON, PAR VALUE $1.00	5,000	$36.26	D
Employee Stock Option (Right to Buy)	(4)	01/28/2014	CRANE CO. COMMON, PAR VALUE $1.00	5,000	$36.46	D
Employee Stock Option (Right to Buy)	(5)	01/29/2013	CRANE CO. COMMON, PAR VALUE $1.00	5,000	$36.64	D
Employee Stock Option (Right to Buy)	(6)	01/24/2017	CRANE CO. COMMON, PAR VALUE $1.00	8,000	$43.72	D
Performance-Based Restricted Share Unit	(7)	(7)	CRANE CO. COMMON, PAR VALUE $1.00	1,300	(8)	D
Restricted Share Unit	(9)	(10)	CRANE CO. COMMON, PAR VALUE $1.00	2,775	(11)	D

Explanation of Responses:

1. This option vests 25% one year, 50% two years, 75% three years and 100% four years after the date of (01/26/2009).

2. This option vests 25% one year, 50% two years, 75% three years and 100% four years after the date of grant (01/25/2010).

3. This option vests 25% one year, 50% two years, 75% three years and 100% four years after the date of grant (04/19/2010).

4. This option vests 25% one year, 50% two years, 75% three years and 100% four years after the date of grant (01/28/2008).

5. This option vests 25% one year, 50% two years, 75% three years and 100% four years after the date of grant (01/29/2007).

6. This option vests 25% one year, 50% two years, 75% three years and 100% four years after the date of grant (01/24/2011).

7. Assuming the performance conditions specified in footnote 8 are met, the Performance-Based RSUs will vest on December 31, 2013, provided the recipient remains employed by the Company; or upon the recipient's earlier retirement, death or permanent disability; or upon a change in control of the Company.

8. Each Performance-Based RSU represents a contingent right to receive a number of shares of Crane Co. common stock between zero and 1.75, depending upon the Total Shareholder Return of Crane Co.'s common stock compared to that of the companies in the S&P MidCap 400 Capital Goods Group during the period beginning January 1, 2011 and ending December 31, 2013.

9. 25% of the Restricted Share Units will be converted into shares of Common Stock on each of the first, second, third and fourth anniversaries of the grant, 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.

10. A Restricted Share Unit is forfeited if the recipient ceases to be employed by the Company before it has been converted to Common Stock.

11. 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.

	Attorney In Fact, Christopher Dee	04/27/2011
	** Signature of Reporting Person	Date
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