Business Context and Reporting Period
This Form 8-K Current Report was filed by Carpenter Technology Corporation on October 15, 2008. The filing primarily addresses corporate governance actions taken by the Board of Directors on October 13, 2008, including the declaration of a quarterly dividend and the approval of fiscal year 2009 compensation for non-employee directors.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only specific financial data disclosed relates to shareholder distributions and director compensation:
- Quarterly Dividend: $0.18 per share of common stock.
- Dividend Payment Date: December 4, 2008.
- Record Date: October 28, 2008.
- Ex-Dividend Date: October 24, 2008.
- Director Annual Retainer: $90,000 (50% cash, 50% stock units).
- Director Option Grant Value (FY2009): $58,824 per director (aggregate value).
Material Changes Versus Prior Period
The filing highlights specific changes in director compensation compared to fiscal year 2008:
- Audit/Finance Committee Chair Retainer: Increased by $5,000 to $15,000 annually.
- Other Retainers: Remained unchanged from fiscal year 2008.
- Option Grant Value: The aggregate value of options granted to each director for fiscal year 2009 ($58,824) is lower than the value granted for fiscal year 2008 ($75,496).
- Option Terms: 8,000 shares granted per director with an exercise price of $22.35 per share.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, revenue outlook, or management commentary regarding operational risks or contingencies. The document notes that the overall fiscal year 2009 compensation package for directors is positioned within the 68th percentile of the Company's peer group.
Key Facts for Investor Verification
- Verify the ex-dividend date of October 24, 2008, to determine eligibility for the $0.18 per share dividend.
- Confirm the impact of the reduced aggregate option grant value ($58,824 vs. $75,496) on total director compensation relative to market peers.
- Note the specific increase in the Audit/Finance Committee chair retainer to $15,000.
- Recognize that this filing does not contain operational financial results; refer to the most recent 10-Q or 10-K for revenue and earnings data.