EAF Form 4: 2,242 DSUs Reported After 1-for-10 Reverse Split

Rhea-AI Filing Summary

Shivaram Sachin M, a director of GrafTech International Ltd (EAF), reported receipt of 2,242.5897 deferred share units (DSUs) on 09/30/2025. After this transaction the reporting person beneficially owns 8,181.5897 shares on a direct basis. The filing notes the company completed a 1-for-10 reverse stock split on 08/29/2025, and the DSU amounts are shown on a post-split basis. The DSUs are fully vested and will be settled in whole shares when the director terminates service, and in any event no later than the end of the calendar year containing the termination date. The Form 4 was filed by a single reporting person and signed by Andrew J. Renacci by power of attorney on 10/02/2025. The document provides only changes in beneficial ownership and the mechanics for settlement of vested DSUs.

Positive

• 2,242.5897 DSUs added, increasing direct beneficial ownership to 8,181.5897 shares
• DSUs are fully vested, representing a committed right to common shares upon settlement
• Award amounts adjusted post-1-for-10 reverse split (08/29/2025), ensuring clarity on share counts

Negative

• None.

Insights

Corporate Governance Analyst

Director received vested compensation in DSUs; ownership increased to 8,181.5897 post-transaction.

The filing records an award/settlement of 2,242.5897 deferred share units on 09/30/2025, shown on a post-1-for-10 reverse split basis. Because the DSUs are fully vested, they represent a firm, contingent claim to common shares that will be delivered upon termination of service, no later than year-end of termination.

This is a routine disclosure of director compensation and ownership change; it documents increased direct beneficial ownership but contains no optionality, exercised options, or cash consideration.

Compensation & Equity Specialist

Vested DSUs are payable in whole shares on termination, increasing near-term share issuance risk.

Each DSU converts to one share at settlement and 2,242.5897 DSUs were added, bringing total direct holdings to 8,181.5897. The post-split notation confirms the company adjusted awards for the 08/29/2025 1-for-10 reverse split.

This disclosure clarifies timing: shares will be delivered "as soon as practicable" after termination but no later than the calendar year end, which sets an observable settlement horizon if/when the director leaves.

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).

1. Name and Address of Reporting Person^*

Shivaram Sachin M

(Last) (First) (Middle)

C/O GRAFTECH INTERNATIONAL LTD.

982 KEYNOTE CIRCLE

(Street)

BROOKLYN HEIGHTS OH 44131

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GRAFTECH INTERNATIONAL LTD [ EAF ]

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)
09/30/2025

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

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
Deferred Share Units	(1)	09/30/2025		A		2,242.5897(2)		(3)	(3)	Common Stock	2,242.5897(2)	$0	8,181.5897(2)	D

Explanation of Responses:

1. Each deferred share unit (DSU) represents a contingent right to receive one share of EAF common stock.

2. On August 29, 2025, the Company effected a reverse stock split of the Company's issued common stock at a ratio of 1-for-10. As a result, the amount of DSUs reflected in this filing is on a post-split adjusted basis.

3. DSUs are fully vested. Vested deferred share units will be settled in whole shares of common stock which will be delivered to the reporting person as soon as practicable after the reporting person terminates service as a director of the company but in any event no later than the end of the calendar year in which such termination date occurs.

Remarks:

	/s/ Andrew J. Renacci, by power of attorney	10/02/2025
	** 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 did GrafTech director Shivaram Sachin M report on Form 4 (EAF)?

The director reported acquisition of 2,242.5897 deferred share units on 09/30/2025, bringing direct beneficial ownership to 8,181.5897 shares.

Are the reported DSUs vested and when will they be settled?

Yes, the DSUs are fully vested. They will be settled in whole shares after the director terminates service, and no later than the end of the calendar year containing the termination date.

Did the filing reflect any corporate action affecting share counts?

Yes, the filing states a 1-for-10 reverse stock split was effected on 08/29/2025, and DSU amounts are shown on a post-split basis.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Andrew J. Renacci by power of attorney and dated 10/02/2025; the reported transaction date was 09/30/2025.