Carpenter Technology (CRS) CFO Timothy Lain Receives Award, Withholds Shares

What Happened
Timothy Lain, SVP and Chief Financial Officer of Carpenter Technology (CRS), received 18,076 performance-based restricted stock units (RSUs) that vested on July 14, 2026. To satisfy tax withholding on the vesting, 8,300 vested shares were surrendered/withheld at a value of $576.87 per share, totaling approximately $4,788,021. This was a vesting/tax-withholding event — not an open-market sale or purchase.

Key Details

• Transaction date: July 14, 2026 (reported on Form 4 filed July 16, 2026). Filing appears timely.
• Award: 18,076 performance-based RSUs vested (code A; acquired). Grant effective date was Aug 15, 2023; performance period ended June 30, 2026; achievement certified July 14, 2026 (Footnote F1).
• Tax withholding: 8,300 shares were withheld/disposed (code F) at $576.87 per share, proceeds ≈ $4,788,021. This reflects shares surrendered to cover withholding/tax liability (Footnote F2).
• Shares owned after the transaction: not specified in the provided filing text.
• Additional note: reported shares include amounts under Carpenter’s Retirement Plan; balances may fluctuate due to rounding (Footnote F3).

Context
This was a routine vesting of performance RSUs with shares withheld to cover taxes — common for equity compensation. Such withholding is not the same as an executive selling shares for diversification or cash; it’s a tax-related disposition tied to the award vesting.