CARPENTER TECHNOLOGY CORP — Director's Dealing 2009

Nov 2, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2009-10-29

Reporting Person: PRATT GREGORY A (Director, Chairman/Interim Pres & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-10-29	Common Stock	A	2471	—	Acquired	2671	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-10-29	Stock Units	$	A	2022	Acquired		Common Stock (2022)	Direct
2009-10-29	Employee Stock Options (right to buy)	$22.26	A	1600	Acquired	2019-10-29	Common Stock (1600)	Direct
2009-10-29	Employee Stock Options (right to buy)	$22.26	A	85288	Acquired	2019-10-29	Common Stock (85288)	Direct
2009-10-29	Employee Stock Options (right to buy)	$24.49	A	33860	Acquired	2019-10-29	Common Stock (33860)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Units (non-employee)	$		Common Stock (21194.3219)	21194.3219	Direct

Footnotes

F1: The reporting person was granted restricted stock units under the Carpenter Technology Corporation Stock-Based Compensation Plan for Officers and Key Employees.

F2: Converts to common stock on a 1-for-1 basis

F3: Payable upon separation of service

F4: Includes dividend equivalents

F5: 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.

F6: The stock option will vest as follows: (i) with respect to 50% of the subject shares, on the later of (a) October 29, 2010, or (b) six (6) months following the date on which Carpenter Technology Corporation's next Chief Executive Officer commences employment (such later date, the "Applicable Vesting Date"); (ii) with respect to an additional 25% of the subject shares, on the Applicable Vesting Date, provided that Mr. Pratt's period of service as Interim President and Chief Executive Officer exceeds seven (7) months; and (iii) with respect to an additional 25% of the subject shares, on the Applicable Vesting Date, provided that Mr. Pratt's period of service as Interim President and Chief Executive Officer exceeds ten (10) months.

F7: Payable upon retirement