[Form 4] Carpenter Technology Corp Insider Trading Activity

Rhea-AI Filing Summary

Tony R. Thene, President & CEO and Director of Carpenter Technology Corporation (CRS), reported multiple security transactions in August 2025. On 08/15/2025 14,252 shares were disposed in connection with the vesting of previously reported restricted stock units at $243.16 per share, and 16,965 restricted stock units were granted (these were recorded as an acquisition on that date). After those transactions the filing shows 554,019 shares beneficially owned on 08/15/2025. On 08/18/2025 the report lists two sell transactions totaling 19,000 shares sold (13,148 at an average price $244.7137 and 5,852 at an average price $245.6156), resulting in reported beneficial ownership levels shown as 540,871 and 535,019 shares on the form. The filing also discloses 5,500 shares held indirectly in the Thene Revocable Living Trust.

The form notes the 16,965 units were granted under the Carpenter Technology Corporation Stock-Based Incentive Compensation Plan for Officers and Key Employees, and that the sales prices for 08/18/2025 are daily averages with specified intra-day ranges. The filing is signed by James D. Dee/POA on 08/19/2025.

Positive

• Received 16,965 restricted stock units under the Carpenter Technology stock-based incentive plan, reflecting executive compensation alignment with shareholders
• Detailed disclosure of sale prices and intra-day ranges for 08/18/2025 sales enhances transparency
• Retains 5,500 shares in a revocable trust, indicating some continued indirect ownership

Negative

• Net disposals totaling 33,252 shares across reported transactions (14,252 disposed on vesting plus 19,000 sold) reduced reported beneficial ownership from 554,019 to as low as 535,019 in the filing
• Significant sell activity by a named executive officer could reduce direct share stake, though purpose is not stated in the filing

Insights

Financial Analyst

TL;DR: Insider received RSU grant and sold part of holdings; transactions appear to reflect routine compensation vesting and subsequent disposition.

The filing documents a grant of 16,965 restricted stock units and the vesting-related disposition of 14,252 shares on 08/15/2025, followed by two sell executions totaling 19,000 shares on 08/18/2025 at average prices of $244.7137 and $245.6156. Beneficial ownership levels are reported across the events (peaking at 554,019 shares then showing reductions to 540,871 and 535,019), and 5,500 shares remain in a family trust. From a financial perspective these are compensation-related changes and secondary market sales; they adjust share counts but do not indicate corporate operational changes.

Corporate Governance Expert

TL;DR: Reporting is consistent with rule 16 reporting: grant under company plan, vesting, and market sales were disclosed with prices and trust holdings.

The report clearly identifies the reporting person as President & CEO and Director, discloses the RSU grant under the company stock-based incentive plan, and specifies that some shares are held indirectly in a revocable trust. The filing includes average sale prices and intra-day ranges for 08/18/2025 sales, which supports transparency. No amendments or corrective statements are indicated.

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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hours per response:			0.5

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^*

Thene Tony R

(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
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		F(1)		14,252	D	$243.16	537,054	D
Common Stock	08/15/2025		A		16,965	A	(2)	554,019	D
Common Stock	08/18/2025		S		13,148	D	$244.7137(3)	540,871	D
Common Stock	08/18/2025		S		5,852	D	$245.6156(4)	535,019	D
Common Stock								5,500	I(5)	In Trust

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

Explanation of Responses:

1. In connection with the vesting of previously reported restricted stock units.

2. The reporting person was granted restricted stock units under the Carpenter Technology Corporation Stock-Based Incentive Compensation Plan for Officers and Key Employees.

3. The price reported is an average of the total transactions executed for the day, with the individual transactions ranging from a low of $244.22 per share to a high of $245.20 per share.

4. The price reported is an average of the total transactions executed for the day, with the individual transactions ranging from a low of $245.24 per share to a high of $245.89 per share.

5. These shares are held in the Thene Revocable Living Trust dated September 17, 2010, Tony R. Thene and Holly Thene, Trustees.

	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 transactions did Tony R. Thene report on Form 4 for CRS in August 2025?

Tony R. Thene reported a grant of 16,965 restricted stock units on 08/15/2025, disposition of 14,252 shares on 08/15/2025 in connection with vesting, and two sell transactions on 08/18/2025 totaling 19,000 shares.

How many Carpenter Technology (CRS) shares did the reporting person beneficially own after these transactions?

The filing shows beneficial ownership reported as 554,019 shares following the 08/15/2025 transactions, and levels of 540,871 and 535,019 reported after the 08/18/2025 sales.

At what prices were the 08/18/2025 CRS share sales executed?

The 08/18/2025 sales were reported at average prices of $244.7137 (range $244.22–$245.20) and $245.6156 (range $245.24–$245.89) per share.

Were any shares held indirectly by the reporting person?

Yes. The filing discloses 5,500 shares held indirectly in the Thene Revocable Living Trust dated September 17, 2010, with Tony R. Thene and Holly Thene as trustees.

Under what plan were the restricted stock units granted?

The 16,965 restricted stock units were granted under the Carpenter Technology Corporation Stock-Based Incentive Compensation Plan for Officers and Key Employees.