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).
________________________________________________________________________________
1. Name and Address of Reporting Person*
De Gasperis Corrado F.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
c/o GrafTech International Ltd.
1521 Concord Pike
Suite 301
--------------------------------------------------------------------------------
(Street)
Wilmington DE 19803
--------------------------------------------------------------------------------
(City) (State) (Zip)
USA
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
GrafTech International Ltd.
GTI
________________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
05/31/2002
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Vice President, Chief Financial Officer & Chief Information Officer
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
________________________________________________________________________________
================================================================================
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
================================================================================
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)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5/14/02 D(8) 11,290 D $14.05 550 D
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 7,102 I (1)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5/15/02 A 95 A $13.45 I (2)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5/31/02 A 112 A $11.37 8,306 I (2)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5/15/02 A 141 A $16.50 I (3)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5/31/02 A 167 A $13.97 12,093 I (3)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 4,500 I (4)
------------------------------------------------------------------------------------------------------------------------------------
Comon Stock 16,500(7) D
------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
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).
Page 1 of 2 (Over)
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)
================================================================================
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)
------------------------------------------------------------------------------------------------------------------------------------
Common
Stock
par value
Time options $.01 per
(right to buy) $29.2219 7/14/00 1/25/07 share 21,000 21,000 D
------------------------------------------------------------------------------------------------------------------------------------
Common
Stock
par value
Time options $.01 per
(right to buy) $17.0625 (5) 9/29/08 share 75,000 75,000 D
------------------------------------------------------------------------------------------------------------------------------------
Common
Stock
par value
Time options $.01 per
(right to buy) $14.00 2/28/05 2/28/10 share 30,000 30,000 D
------------------------------------------------------------------------------------------------------------------------------------
Common
Stock
par value
Time options $.01 per
(right to buy) $8.56 12/15/02 12/15/10 share 60,000 60,000 D
------------------------------------------------------------------------------------------------------------------------------------
Common
Stock
par value
Time options $.01 per
(right to buy) $8.85 (6) 9/25/11 share 57,500 57,500 D
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
Explanation of Responses:
(1) Represents the number of units attributable to the reporting person's
participation in the Company Stock Fund option of the UCAR Carbon Savings
Program.
(2) Represents the number of units attributable to the reporting person's
participation through automatic payroll deductions in the Company Discount
Stock Fund option of the UCAR Carbon Savings Program.
(3) Represents obligations whose value is based on the Common Stock. The
reporting person disclaims beneficial ownership of these securities.
(4) Represents shares purchased for the account of the reporting person's
spouse.
(5) Of such options, 25,000 vested on each of May 21, 1999, July 14, 1999
and September 29, 1999.
(6) Options were granted as part of an annual grant. Of such options, 12,500
vested on September 25, 2001 and 45,000 will vest on September 25, 2003.
(7) Of such shares, 8,250 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.
(8) 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
--------------------------------------------- -----------------------
**Signature of Reporting Person Date
Karen G. Narwold, Attorney-in-fact for
Corrado F. De Gasperis
**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.
Page 2
Page 2 of 2 SEC 1474(7-96)