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GRAFTECH INTERNATIONAL LTD Director's Dealing 2010

May 24, 2010

33189_dirs_2010-05-24_bf55ebe0-872e-46d9-93f0-48636d43457e.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: 2010-05-20

Reporting Person: SHAWLEY STEVEN R (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2010-05-20 Common Stock A 3289 Acquired 3289 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2010-05-20 Time Options (right to buy) $15.06 A 5000 Acquired 2020-05-20 Common Stock (5000) Direct

Footnotes

F1: On May 20, 2010, the Company granted 3,289 restricted shares (representing a pro-rated number of shares, on a per diem basis, of the January 15, 2010 annual grant to non-employee directors) valued at the current market price of $15.06 per share. Subject to the terms of the applicable award agreement, such shares vest on January 15, 2011.

F2: Subject to the terms of the applicable award agreement, such options shall vest so long as the reporting person is still a director on such date.

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.