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GRAFTECH INTERNATIONAL LTD Director's Dealing 2010

Dec 3, 2010

33189_dirs_2010-12-03_d6886ed9-ba2e-40c3-8897-e1989553642e.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAFTECH INTERNATIONAL LTD (GTI)
CIK: 0000931148
Period of Report: 2010-12-01

Reporting Person: CRANSTON MARY B (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2010-12-01 Common Stock M 1750 $8.57 Acquired 1750 Direct
2010-12-01 Common Stock S 1750 $21.10 Disposed 0 Direct
2010-12-01 Common Stock M 2100 $8.57 Acquired 2100 Direct
2010-12-01 Common Stock S 2100 $21.10 Disposed 0 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2010-12-01 Stock Options (right to buy) $8.57 M 1750 Disposed 2010-12-15 Common Stock (1570) Direct
2010-12-01 Stock Options (right to buy) $8.57 M 2100 Disposed 2010-12-15 Common Stock (2100) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 31182 Direct
Common Stock 2000 Indirect

Holdings (Derivative)

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

Footnotes

F1: In March 2010, the Reporting Person previously entered into a written Rule 10b5-1 sales plan covering stock options that otherwise would expire in December 2010. Under the Rule 10b5-1 sales plan, these options were exercised automatically and the respective shares were sold automatically based on the stock price reaching a pre-set target price.

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

F3: Options expire on such date unless reporting person ceases to be a director, in which event options expire fours years from the date reporting person's directorship ends.