[Form 4] Carpenter Technology Corp Insider Trading Activity

Rhea-AI Filing Summary

Carpenter Technology Corporation (CRS) director Inglis I. Martin reported stock option exercises and open-market sales on 08/18/2025. The filing shows the exercise of two director stock options: 3,275 shares at a $39.79 exercise price and 2,416 shares at a $49.52 exercise price, both exercisable from prior grant dates and tied to the companys non-employee director stock plan. Following those exercises, Mr. Martin beneficially owned 12,423 shares.

On the same date, the reporting person sold 5,691 shares in the open market at an average price of $244.5448 per share (individual trades ranged $244.47 to $244.70), leaving 6,732 shares held after the sale. The form is filed individually and executed via POA on 08/19/2025.

Insights

Corporate Governance Expert

TL;DR: Director exercised long-dated options and sold a portion of holdings; routine insider liquidity, not a control change.

The filing documents option exercises from director grants and a contemporaneous market sale. Exercises were from director awards made in 2017 and 2018, indicating standard compensation vesting and exercise timing. The sale of 5,691 shares at an average ~$244.54 reduced the director's stake to 6,732 shares; post-exercise beneficial ownership was 12,423 before the sale. There is no disclosure of a Section 16 termination or 10% ownership, and the transactions appear to be individual liquidity events rather than indicative of governance changes.

Securities Analyst

TL;DR: Transactions are informational and likely neutral for valuation; proceeds and share count change modestly.

The form shows non-derivative ownership changes and option exercises under the non-employee director plan. The sale proceeds can be approximated by 5,691 shares multiplied by the reported average price $244.5448, which represents a modest insider liquidity event given typical director holdings. No new derivative grants, material financing, or change-in-control indicators are reported.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

INGLIS I MARTIN

(Last) (First) (Middle)

C/O CARPENTER TECHNOLOGY CORPORATION

1735 MARKET STREET, 15TH FL

(Street)

PHILADELPHIA PA 19103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CARPENTER TECHNOLOGY CORP [ CRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/18/2025		M		3,275	A	$39.79	10,007	D
Common Stock	08/18/2025		M		2,416	A	$49.52	12,423	D
Common Stock	08/18/2025		S		5,691	D	$244.5448(1)	6,732	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Director Stock Option (Right to Buy)	$39.79	08/18/2025		M			3,275	10/11/2017	10/11/2026	Common Stock	3,275	(2)	0	D
Director Stock Option (Right to Buy)	$49.52	08/18/2025		M			2,416	10/10/2018	10/10/2027	Common Stock	2,416	(2)	0	D

Explanation of Responses:

1. The price reported is an average of the total transactions executed for the day, with the individual transactions ranging from a low of $244.47 per share to a high of $244.70 per share.

2. The reporting person was granted an option to purchase stock under the Carpenter Technology Corporation Stock Based Compensation Plan for Non-Employee Directors.

	James D. Dee/POA	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transactions did CRS director Inglis I. Martin report on Form 4?

The director exercised two stock options (3,275 shares at $39.79 and 2,416 shares at $49.52) and sold 5,691 shares in the open market on 08/18/2025.

How many Carpenter Technology (CRS) shares did the director own after the transactions?

Following the reported transactions, the filing shows the director beneficially owned 6,732 shares after the sale and 12,423 shares after exercises but before the sale.

At what price were the shares sold in the Form 4 filing for CRS?

The sale occurred at an average price of $244.5448 per share, with individual trade prices ranging from $244.47 to $244.70.

Were the option exercises tied to a specific plan at Carpenter Technology?

Yes, the reporting person was granted options under the Carpenter Technology Corporation Stock Based Compensation Plan for Non-Employee Directors.

Was this Form 4 filed jointly or by one reporting person?

The form indicates it was filed by one reporting person (individual filing) and signed via POA on 08/19/2025.