secwatch.observer — SEC 8-K summary
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Issuer:     Crane NXT, Co. (CXT)
CIK:        0000025445
Form:       8-K
Filed at:   2022-10-20T23:59:59+00:00
Accession:  0001193125-22-265693
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/25445/000119312522265693/0001193125-22-265693-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/25445/000119312522265693/d245164d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-265693

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