Carpenter Technology (CRS) director reports option exercise and sale; ownership totals updated

Rhea-AI Filing Summary

Karol Steven E, a director of Carpenter Technology Corporation (CRS), reported transactions on 09/09/2025. The filing shows he exercised Director Stock Options with an exercise price of $34.76 to acquire 3,433 shares and simultaneously sold 3,433 shares at an average price of $245.7829 per share (individual sale prices ranged from $245.69 to $245.92). After these reported transactions the filing lists 180,000 shares directly owned by the reporting person and 228,881 shares held indirectly by affiliates. The option grant was under the companys Stock Based Compensation Plan for Non-Employee Directors and had an original grant date of 10/13/2016 with an expiration of 10/13/2025.

Positive

• Option exercise executed under the companys Stock Based Compensation Plan for Non-Employee Directors
• Sale prices explicitly reported with intra-day range ($245.69 to $245.92), providing transparent pricing for the sale

Negative

• None.

Insights

Securities Analyst

TL;DR: Director exercised options and sold the same number of shares, reducing direct holdings to 180,000 while affiliates hold 228,881.

The filing documents a routine director option exercise and contemporaneous sale of the resulting shares. The exercise price is explicitly stated at $34.76 and the reported average sale price is $245.7829, with individual trades between $245.69 and $245.92. Such transactions typically reflect liquidity events following option vesting; the report shows the reporting persons direct beneficial ownership at 180,000 shares and indirect ownership via affiliates at 228,881 shares. There is no disclosure here of additional material corporate developments.

Corporate Governance Expert

TL;DR: This Form 4 records a non-employee directors option exercise and sale under the director compensation plan, reported in accordance with Section 16.

The disclosure notes the option was granted under the companys Stock Based Compensation Plan for Non-Employee Directors and shows exercise and sale on the same date. The filing includes required details: grant date (10/13/2016), expiration (10/13/2025), and transaction pricing. From a governance perspective, the filing appears to comply with Section 16 reporting requirements and does not disclose any departures or other governance actions.

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

OMB Number:			3235-0287
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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^*

KAROL STEVEN E

(Last) (First) (Middle)

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)
09/09/2025

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	09/09/2025		M		3,433	A	$34.76	183,433	D
Common Stock	09/09/2025		S		3,433	D	$245.7829(1)	180,000	D
Common Stock								228,881	I	Held by Affiliates of Reporting Person

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)	$34.76	09/09/2025		M			3,433	10/13/2016	10/13/2025	Common Stock	3,433	(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 $245.69 per share to a high of $245.92 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	09/10/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Karol Steven E report on Form 4 for CRS?

He exercised 3,433 director stock options at $34.76 per share and sold 3,433 shares at an average price of $245.7829 per share on 09/09/2025.

How many CRS shares does the reporting person own after the transactions?

The filing reports 180,000 shares owned directly and 228,881 shares held indirectly by affiliates following the transactions.

What were the sale prices for the shares sold by the director?

The average sale price was $245.7829 per share, with individual sale prices ranging from $245.69 to $245.92.

Under what plan were the options granted?

The options were granted under the Carpenter Technology Corporation Stock Based Compensation Plan for Non-Employee Directors.

What are the grant and expiration dates of the option involved?

The option grant date was 10/13/2016 and the expiration date is 10/13/2025.