U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Mason Scott C.
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(Last) (First) (Middle)
c/o UCAR Carbon Company Inc.
P.O. Box 6116
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(Street)
Cleveland OH 44101
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(City) (State) (Zip)
USA
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2. Issuer Name and Ticker or Trading Symbol
GrafTech International Ltd.
GTI
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
05/31/2002
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Executive Vice President and President, Advanced Energy Technology Division
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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Common Stock 5/14/02 D(4) 16,013 D $14.05 3,543 D
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Common Stock 20,000(3) D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
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SEC 1474(7-96)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Common
Stock
par value
Time options $.01 per
(right to buy) $13.19 (1) 9/29/08 share 150,000 150,000 D
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Common
Stock
par value
Time options $.01 per
(right to buy) $8.56 12/15/02 12/15/10 share 80,000 80,000 D
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Common
Stock
par value
Time options $.01 per
(right to buy) $8.85 (2) 9/25/11 share 87,000 87,000 D
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Explanation of Responses:
(1) 50,000 of such options vested on April 3, 2001. 100,000 of such options
will vest on April 3, 2007; however, 50,000 unvested shares will vest on each of
the dates, if any, on which the closing price of the Company's common stock has
been at least $15.85 per share and $18.50 per share for at least 20 consecutive
trading days.
(2) Options were granted as part of an annual grant. Of such options, 15,000
vested on September 25, 2001 and 72,000 will vest on September 25, 2003.
(3) Of such shares, 10,000 will vest on each of January 1, 2003 and January
1, 2004, provided that the reporting person is still employed by the Company on
those dates.
(4) As previously disclosed, management purchased these shares with loans
from the Company under an employee compensation plan with the objective of
achieving stock ownership guidelines for executive officers. The Board of
Directors has determined that it would be in the best interests of the Company
to terminate the plan and unwind the loans, and offered to accept surrender of
these shares in repayment of the loans. All reporting officers currently
meet or exceed stock ownership guidelines of the Company and have not otherwise
sold Company stock. In the aggregate, the purchase and surrender does not
result in a material profit or loss to the Company or any officer.
/s/ Karen G. Narwold June 10, 2002
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**Signature of Reporting Person Date
Karen G. Narwold, Attorney-in-fact for
Scott C. Mason
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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