GRAFTECH INTERNATIONAL LTD. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by GrafTech International Ltd. on June 15, 2011, reporting an event that occurred on June 13, 2011. The filing discloses the adoption of a Rule 10b5-1 trading plan by a member of the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to a disclosure regarding director equity transactions and does not contain financial performance data.
Material Changes
There are no material changes to the company's financial condition or operations reported in this filing. The only material event is the establishment of a specific sales plan for Director Ferrell P. McClean.
Management Commentary and Unusual Items
Rule 10b5-1 Plan Adoption: Effective June 13, 2011, Director Ferrell P. McClean entered into a written sales plan to comply with Rule 10b5-1. The plan was implemented due to the short duration remaining on specific stock options.
- Scope: Applies only to stock options expiring on or before February 26, 2012. It does not cover other stock options or common stock interests held by the Director.
- Mechanism: Options will be exercised subject to minimum price thresholds above the current stock price. Shares issued from these exercises will be sold on the open market at prevailing prices.
- Remaining Holdings: The Director's other outstanding stock options expire between January 2013 and January 2014. Other holdings include purchased stock and vested/unvested restricted stock.
Director Holdings as of June 13, 2011
| Category | Quantity |
|---|---|
| Stock Options Covered by Trading Plan | 10,321 |
| Stock Options Not Covered by Trading Plan | 16,300 |
| Other Common Stock Holdings | 68,181 |
Key Facts for Investor Verification
- Verify the current market price of GrafTech stock against the undisclosed minimum price thresholds required for the Director's option exercises.
- Confirm the expiration dates of the Director's remaining 16,300 stock options (stated as Jan 2013 - Jan 2014).
- Note that the company does not undertake to report future 10b5-1 plans or modifications unless required by law.