SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this 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^*

SHOR MICHAEL L

(Last)

(First)

(Middle)

CARPENTER TECHNOLOGY CORPORATION

101 WEST BERN STREET

(Street)

READING

19601

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CARPENTER TECHNOLOGY CORP [ CRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr. VP-Engineered Products Op.

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. 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
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/29/2005		M		18,000	A	$23.21	54,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$54	52,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$54.043	50,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$54.934	48,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$54.966	46,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$55.052	44,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$55.192	42,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$55.252	40,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$55.35	38,920⁽¹⁾	D
Common Stock	04/29/2005		S		2,000	D	$55.695	36,920⁽¹⁾	D
Common Stock	05/02/2005		M		12,200	A	$28.4375	49,120⁽¹⁾	D
Common Stock	05/02/2005		S		2,000	D	$55.02	47,120⁽¹⁾	D
Common Stock	05/02/2005		S		2,000	D	$55.155	45,120⁽¹⁾	D
Common Stock	05/02/2005		S		2,000	D	$55.27	43,120⁽¹⁾	D
Common Stock	05/02/2005		S		2,000	D	$54.978	41,120⁽¹⁾	D
Common Stock	05/02/2005		S		2,000	D	$55.018	39,120⁽¹⁾	D
Common Stock	05/02/2005		S		2,200	D	$55.131	36,920⁽¹⁾	D
Common Stock								7,637⁽²⁾	I	By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (Right to Buy)	$23.21	04/29/2005		M			18,000	01/28/2003	01/28/2012	Common Stock	18,000	⁽³⁾	0	D
Employee Stock Option (Right to Buy)	$28.4375	05/02/2005		M			12,200	06/24/2000	06/24/2009	Common Stock	12,200	⁽³⁾	0	D

Explanation of Responses:

1. Includes shares acquired under the Carpenter Technology Corporation Dividend Reinvestment Program.

2. Includes shares acquired under the Savings Plan of Carpenter Technology Corporation. The share balance under the Savings Plan of Carpenter Technology fluctuates due to rounding differences produced by the Plan's method of estimating shares.

3. The reporting person was granted an option to buy shares of common stock under the Carpenter Technology Corporation Stock-Based Compensation Plan for Officers and Key Employees.

Remarks:

	David A. Christiansen/POA	05/03/2005
	** Signature of Reporting Person	Date
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).
** 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 is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.