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 November 14, 2011, reporting an event that occurred on November 10, 2011. The filing discloses the adoption of a Rule 10b5-1 trading plan by Director Mary P. Cranston.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a corporate governance event regarding insider trading plans.
Material Changes
Effective November 10, 2011, Director Mary P. Cranston entered into a written sales plan (10b5-1 Plan) to comply with Rule 10b5-1 under the Securities Exchange Act of 1934. Key details include:
- Scope: The plan applies only to stock options expiring on or before March 1, 2012.
- Mechanism: Options will be exercised subject to minimum price thresholds initially set above the current stock price. Shares issued upon exercise will be sold contemporaneously on the open market.
- Exclusions: The plan does not cover other stock options or common stock interests held by the Director.
Holdings and Outlook
As of the filing date, Director Cranston's holdings are as follows:
| Category | Quantity |
|---|---|
| Stock Options Covered by Trading Plan | 5,500 |
| Stock Options Not Covered by Trading Plan | 16,300 |
| Other Common Stock Holdings | 37,106 |
The Director's remaining options not covered by this plan expire between January 2013 and January 2014. The company stated it does not undertake to report future 10b5-1 plans or modifications except as required by law.
Investor Verification Checklist
- Verify the specific minimum price thresholds set for the exercise of the 5,500 options under the 10b5-1 Plan.
- Monitor future filings for the actual execution of sales under this plan.
- Review the expiration dates of the 16,300 options not covered by the plan (Jan 2013 - Jan 2014).
- Confirm if any other directors or officers have adopted similar plans, as the company is not obligated to report them proactively.