CARPENTER TECHNOLOGY CORP — Director's Dealing 2008

Jul 2, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2008-06-27

Reporting Person: WIDGE SUNIL Y (Sr VP & Chief Technology Offic)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-06-27	Common Stock	F	389	$43.97	Disposed	23327.6	Direct
2008-06-30	Common Stock	F	673	$43.65	Disposed	22654.6	Direct
2008-06-30	Common Stock	A	3450	—	Acquired	26164.15	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-06-30	Employee Stock Option (Right to Buy)	$43.65	A	3492	Acquired	2018-06-30	Common Stock (3492)	Direct
2008-06-30	Employee Stock Option (Right to Buy)	$43.65	A	3492	Acquired	2018-06-30	Common Stock (3492)	Direct
2008-06-30	Employee Stock Option (Right to Buy)	$43.65	A	3491	Acquired	2018-06-30	Common Stock (3491)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4645.92	Indirect

Footnotes

F1: In connection with the vesting of previously reported restricted shares.

F2: The reporting person was granted restricted stock under the Carpenter Technology Corporation Stock-Based Compensation Plan for Officers and Key Employees.

F3: Includes shares acquired under the Carpenter Technology Corporation Dividend Reinvestment Program.

F4: The share balance reflects an increase in shares resulting from a 2-for-1 stock split in the form of a 100% stock dividend, with the distribution having been made on November 15, 2007.

F5: Includes shares acquired under the Savings Plan of Carpenter Technology Corporation. The share balance under the Savings Plan of Carpenter Technology fluctuates due to rounding differences produced by the Plan's method of estimating shares.

F6: The reporting person was granted an option to buy shares of common stock under the Carpenter Technology Corporation Stock-Based Compensation Plan for Officers and Key Employees.