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*
Mason Scott C.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
c/o UCAR Carbon Company Inc.
P.O. Box 6116
--------------------------------------------------------------------------------
(Street)
Cleveland OH 44101
--------------------------------------------------------------------------------
(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
08/31/2002
________________________________________________________________________________
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)
Executive Vice President and President, Advanced Energy Technology Division
________________________________________________________________________________
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 8/16/02 S 6,790 D $7.72 13,210(3) D
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3,543 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) $13.19 (1) 9/29/08 share 150,000 150,000 D
------------------------------------------------------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------------------------------------------------
Common
Stock
par value
Time options $.01 per
(right to buy) $8.85 (2) 9/25/11 share 87,000 87,000 D
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
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) On June 28, 2002, the Board of Directors accelerated the vesting of all
20,000 shares granted to the reporting person. The program allowed participants
to sell shares to cover taxes associated with the shares. The reporting person
sold 6,790 of such shares to cover income and other taxes associated with the
shares. The sale of these shares was made as part of a block sale of shares by
participants in the program, which was transacted on August 16, 2002, August 19,
2002, August 20, 2002 and August 21, 2002 and in connection with which each
participant received the averaged price of $7.72 per share.
/s/ Karen G. Narwold September 9, 2002
--------------------------------------------- -----------------------
**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.
Page 2
Page 2 of 2 SEC 1474(7-96)