---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-265693"
form_type: "8-K"
ticker: "CXT"
cik: "0000025445"
company_name: "Crane NXT, Co."
filed_at: "2022-10-20T23:59:59+00:00"
generated_at: "2026-06-23T02:25:29.179760+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Crane names Aaron Saak CEO of Crane NXT; spin-off on track for early April 2023

## Summary
- Aaron Saak appointed President and CEO of Crane NXT, the Payment & Merchandising Technologies business to be spun off.
- Separation expected to close in early April 2023; Form 10 Registration Statement to be available before year-end.
- Saak receives $800k base salary, $700k sign-on bonus, $2.2M in RSUs, and minimum $4M equity in 2023.
- Saak previously led Gilbarco Veeder-Root, a $2B revenue global technology firm serving retail convenience markets.
- Crane NXT expected to generate ~$1.4B sales with a ~30% pre-corporate Adjusted EBITDA margin this year.

## SEC filing metadata
- accession: 0001193125-22-265693
- form_type: 8-K
- ticker: CXT
- cik: 0000025445
- company_name: Crane NXT, Co.
- filed_at: 2022-10-20T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/25445/000119312522265693/0001193125-22-265693-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/25445/000119312522265693/d245164d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-265693
- JSON: https://secwatch.observer/filing/0001193125-22-265693.json
- Plain text: https://secwatch.observer/filing/0001193125-22-265693.txt

## Key facts
- Executive change
  Aaron Saak was appointed as Chief Executive Officer at Crane NXT, Co..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On October 5, 2022, Aaron Saak, 49 years old, was appointed to serve as Chief Executive Officer for the Crane NXT organization.
  evidence_url: https://www.sec.gov/Archives/edgar/data/25445/000119312522265693/0001193125-22-265693-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.