GRAFTECH INTERNATIONAL LTD — Director's Dealing 2012

Feb 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAFTECH INTERNATIONAL LTD (GTI)
CIK: 0000931148
Period of Report: 2012-02-15

Reporting Person: CRANSTON MARY B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-15	Common Stock	M	1300	$10.77	Acquired	1300	Direct
2012-02-15	Common Stock	S	1300	$15.92	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-15	Stock Options (right to buy)	$10.77	M	1300	Disposed	2012-03-01	Common Stock (1300)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	40238	Direct
Common Stock	2000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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 November 2011, Mary Cranston previously entered into a written Rule 10b5-1 sales plan covering stock options that otherwise would expire March 1, 2012. Under the Rule 10b5-1 sales plan, these options were exercised automatically and the respective shares were sold automatically based on the instructions included in the sales plan.

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