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GTI > SEC Filings for GTI > Form 8-K on 15-Jun-2009All Recent SEC Filings

Show all filings for GRAFTECH INTERNATIONAL LTD | Request a Trial to NEW EDGAR Online Pro

Form 8-K for GRAFTECH INTERNATIONAL LTD


15-Jun-2009

Other Events


Item 8.01. Other Events

On June 15, 2009, each of Craig S. Shular, Chairman, Chief Executive Officer, and President of GrafTech International Ltd., Hermanus L. Pretorius, President of GrafTech's Engineered Solutions business segment (the "Officers"), and Mary B. Cranston, Director ("Director"), entered into a written sales plan intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934 (each a "10b5-1 Plan").

Each 10b5-1 Plan was implemented because of the short duration remaining on the stock options covered by the 10b5-1 Plan and apply only to stock options that would otherwise expire by their terms on or before February 28, 2010. The Plans do not cover any other stock options or common stock interests that the Officers or Director otherwise hold. The 10b5-1 Plans also provide for the contemporaneous sales of shares of GrafTech's common stock issued as a result of such exercises. For each of the 10b5-1 Plans the options will be exercised, subject to the attainment of certain minimum price thresholds, at their stated exercise price and the shares issued will be sold under the plan on the open market at then prevailing prices.

The Officers' and Director's stock options not covered by the 10b5-1 Plans expire between December 2010 and 2017. The Officers' and Director's other holdings include GrafTech stock that they purchased, as well as vested and unvested restricted stock, performance shares, and stock options issued pursuant to incentive plans approved by GrafTech's stockholders.

As of the date hereof, the Officers' and Director's holdings are as follows:

                                                                 Common Stock
                                Stock Options   Stock Options    Holdings Not
                                 Covered by     Not Covered by    Covered by
                                Trading Plan     Trading Plan    Trading Plan
        Craig S. Shular                30,000          487,000        525,353
        Hermanus L. Pretorius          10,000           12,500         68,933
        Mary B. Cranston                8,051           41,480         54,554

GrafTech does not undertake to report Rule 10b5-1 plans that may be adopted by any employees, officers or directors of GrafTech in the future or to report any modifications or termination of any publicly announced 10b5-1 plans except to the extent required by law.


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