GRAFTECH INTERNATIONAL LTD — Director's Dealing 2010

Jan 20, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAFTECH INTERNATIONAL LTD (GTI)
CIK: 0000931148
Period of Report: 2010-01-15

Reporting Person: CRANSTON MARY B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-01-15	Common Stock	A	5529	—	Acquired	58182	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Time options (right to buy)	$8.57	2010-12-15	Common Stock (7700)	7700	Direct
Time options (right to buy)	$8.57	2010-12-15	Common Stock (5840)	5840	Direct
Time options (right to buy)	$8.57	2010-12-15	Common Stock (2100)	2100	Direct
Time options (right to buy)	$8.85	2011-09-25	Common Stock (2040)	2040	Direct
Time options (right to buy)	$10.70	2012-01-01	Common Stock (6200)	6200	Direct
Time options (right to buy)	$10.77	2012-03-01	Common Stock (1300)	1300	Direct
Time options (right to buy)	$5.15	2013-01-14	Common Stock (12800)	12800	Direct
Time options (right to buy)	$13.37	2014-01-15	Common Stock (3500)	3500	Direct

Footnotes

F1: On January 15, 2010, the Company granted 5,529 restricted shares as an annual grant to non-employee directors, valued at the then current market price of $14.47 per share. Such shares vest on January 15, 2010 unless, with certain exceptions, the reporting person ceases to be a director prior to the vesting date. End of period holdings reflect adjustment of 99 shares to correct a clerical error made in prior reported holdings.

F2: All such options have fully vested and became exercisable.