Carpenter Tech (CRS) Director Steven E. Karol Exercises Options, Sells Shares

What Happened
Steven E. Karol, a director of Carpenter Technology Corporation (CRS), exercised 3,275 stock option shares and then sold those 3,275 shares in an open‑market transaction on September 4, 2026. The exercise price was $39.79 per share (total cash paid ≈ $130,312). The shares were sold at an average price of $474.08 per share for total proceeds of about $1,552,618.

Key Details

• Transaction date: September 4, 2026; Form 4 filed September 9, 2026 (filed after the transaction date).
• Exercise: 3,275 option shares exercised at $39.79 each (total ≈ $130,312). (Footnote F2: options granted under the Carpenter Technology stock plan for non‑employee directors.)
• Sale: 3,275 shares sold in the open market at an average price of $474.08 per share (total ≈ $1,552,618). (Footnote F1: average sale price is $474.08; individual trades ranged $474.00–$474.17.)
• Derivative reporting: The Form 4 shows the exercise (derivative conversion) and the subsequent disposition — effectively a cashless exercise where the exercised shares were sold.
• Shares owned after the transactions: not specified in the supplied filing details.
• Timeliness: Filing occurred five days after the transaction date; this appears to be late relative to the usual Form 4 deadline.

Context
This was an option exercise followed by an immediate sale of the resulting shares (a common cashless exercise pattern). Karol is a non‑employee director (per the option plan footnote), so these transactions are typical for board compensation and liquidity; they are not the same as insider trades by executive officers or 10% owners. The sale realized roughly $1.55M in proceeds after exercising the options.