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CARPENTER TECHNOLOGY CORP Director's Dealing 2006

Feb 23, 2006

30520_dirs_2006-02-23_63b62b13-a448-4d8e-afe1-391defcfc1a4.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2006-02-21

Reporting Person: STEPHANS PETER N (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-02-21 Common Stock S 3222 $80.62 Disposed 20000 Indirect
2006-02-21 Common Stock S 3178 $80.62 Disposed 20000 Indirect
2006-02-22 Common Stock S 15000 $82.77 Disposed 63682 Direct
2006-02-22 Common Stock S 15000 $82.77 Disposed 63682 Indirect
2006-02-22 Common Stock S 25000 $82.77 Disposed 0 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 78682 Direct
Common Stock 78682 Indirect
Common Stock 25000 Indirect
Common Stock 20000 Indirect
Common Stock 20000 Indirect

Footnotes

F1: These shares are held in the Peter N. Stephans Revocable Trust, dated March 15, 2004, Peter N. Stephans and Joan R. Stephans, Trustees

F2: These shares are held in the Joan R. Stephans Revocable Trust, dated March 15, 2004, Peter N. Stephans and Joan R. Stephans, Trustees

F3: These shares are held in the Peter N. and Joan R. Stephans CRUT, dated March 15, 2004, Peter Stephans, Joan Stephans and PNC Bank, Trustees

F4: The price reported is an average of the total transactions executed for the day, with the individual transactions ranging from a low of $80.05 per share to a high of $81.38 per share.

F5: These shares are held in the Irrevocable Deed of Trust of Peter C. Rossin and Ada E. Rossin, dated July 12, 1989, Ada E. Rossin and Joan Elizabeth Rossin Stephans, Trustees, for the benefit of the reporting person's children. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16, or for any other purpose.

F6: The price reported is an average of the total transactions executed for the day, with the individual transactions ranging from a low of $82.75 per share to a high of $83.00 per share.