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Pay vs Performance Disclosure - USD ($)

12 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2021

Pay versus Performance Table


									Value of Initial Fixed $100 Investment Based On:				Stated in Millions
Year (a)	Summary Compensation Table Total for CEO (1) ($) (b)		Compensation Actually Paid to CEO (2) ($) (c)		Average Summary Compensation Table Total for Non-CEO NEOs (3) ($) (d)		Average Compensation Actually Paid to Non-CEO NEOs (4) ($) (e)		CRS TSR (5) ($) (f)		Peer Group TSR (6) ($) (g)		Net Income (Loss) (7) ($) (h)			Adjusted Operating Income (Loss) (8) ($) (i)
2023		6,432,797		16,151,965		1,578,747		3,197,686		120		153		56			133
2022		4,814,008		1,682,799		1,253,777		753,292		83		147		(49	)		(4	)
2021		5,019,390		9,304,822		1,306,967		1,948,064		136		210		(230	)		(106	)

(1)	Column (b) reflects compensation amounts reported in the Summary Compensation Table (“SCT”) for our CEO, Tony Thene, for the respective years shown.

(2)

CAP reflects column (b), with certain adjustments as detailed in the table below, in accordance with SEC rules. The dollar amounts shown have been calculated in accordance with Item 402(v) of Regulation

S-K

and do not reflect compensation actually earned, realized or received by the Company’s CEO during the applicable year. For information regarding the decisions made by our Human Capital Management Committee with regard to the CEO’s compensation for each fiscal year, please see the CD&A section of the Proxy Statements reporting pay for the fiscal years covered in the table above.


Fiscal Year	2023 ($)			2022 ($)			2021 ($)
CEO		T. Thene			T. Thene			T. Thene
SCT Total Compensation		6,432,797			4,814,008			5,019,390
Minus stock and option award values reported in the SCT for the covered fiscal year		(3,785,070	)		(3,285,016	)		(2,900,812	)
Plus Fair Value (“FV”) for stock and option awards granted in the covered fiscal year		6,512,582			2,566,045			5,262,546
Change in FV of stock and option awards from prior fiscal years that vested in the covered fiscal year		3,587,119			(472,703	)		651,157
Change in FV of outstanding unvested stock and option awards from prior fiscal years		3,404,537			(1,939,535	)		1,272,541
Less FV of stock and option awards forfeited during the covered fiscal year		0			0			0
Less aggregate change in actual present value of accumulated benefits under pension plans		0			0			0
Plus aggregate service costs and prior service costs for pension plans		0			0			0
Compensation Actually Paid		16,151,965			1,682,799			9,304,822

Equity Valuations for CEO and

Non-CEO

NEOs:

Stock option grant date fair values are calculated based on the Black-Scholes option pricing model as of the grant date. Adjustments have been made using stock option fair values as of each measurement date using 1) the stock price as of the measurement date, and 2) updated assumptions (i.e., term, volatility, dividend yield, and risk-free rates) as of the measurement date. Performance-based restricted stock unit grant date fair values are calculated using the stock price as of the grant date, assuming target performance. Adjustments have been made using the stock price and estimated attainment as of the measurement date. Time-based restricted stock unit grant date fair values are calculated using the stock price as of the grant date. Adjustments have been made using the stock price as of the measurement date.

(3)	The dollar amounts shown reflect the average of the compensation amounts reported in the SCT for the following non-CEO NEOs for each respective fiscal year shown:

◾

Fiscal year 2023: Timothy Lain, James D. Dee, Brian J. Malloy, and David Graf

◾

Fiscal year 2022: Timothy Lain, James D. Dee, Brian J. Malloy, and David Graf

◾

Fiscal year 2021: Timothy Lain, James D. Dee, Brian J. Malloy, and Joseph E. Haniford

(4)

CAP reflects column (d), with certain adjustments as detailed in the table below, in accordance with SEC rules. The dollar amounts shown have been calculated in accordance with Item 402(v) of Regulation

S-K

and do not necessarily reflect compensation actually earned, realized or received by the Company’s

non-CEO

NEOs during the applicable year. For information regarding the decisions made by our Human Capital Management Committee with regard to the

non-CEO

NEOs’ compensation for each fiscal year, please see the CD&A sections of the Proxy Statements reporting pay for the fiscal years covered in the table above.


Fiscal Year	2023 ($)			2022 ($)			2021 ($)
Non-CEO NEOs		See (3) above			See (3) above			See (3) above
SCT Total Compensation		1,578,747			1,253,777			1,306,967
Minus stock and option award values reported in the SCT for the covered fiscal year		(625,016	)		(593,780	)		(495,029	)
Plus FV for stock and option awards granted in the covered fiscal year		1,075,403			463,822			898,062
Change in FV of stock and option awards from prior fiscal years that vested in the covered fiscal year		566,477			(69,370	)		76,664
Change in FV of outstanding unvested stock and option awards from prior fiscal years		601,209			(302,087	)		161,197
Less FV of stock and option awards forfeited during the covered fiscal year		0			0			0
Less aggregate change in actual present value of accumulated benefits under pension plans		0			0			(745	)
Plus aggregate service costs and prior service costs for pension plans		866			930			948
Compensation Actually Paid		3,197,686			753,292			1,948,064

(5)

Reflects the five-year cumulative TSR of Carpenter Technology Corporation for the measurement periods ending on June 30 of each of 2023, 2022 and 2021, respectively. TSR represents the cumulative investment return of an initial fixed $100 investment in the company’s common stock, assuming reinvestment of all dividends. The company’s TSR as reflected in the table above may not be indicative of future performance.

(6)

Reflects the

five-year

cumulative TSR of the Russell RSCC Materials & Processing Growth Index (“Peer Group TSR”) for the measurement periods ending on June 30 of each of 2023, 2022 and 2021. Peer Group TSR represents the cumulative investment return of an initial fixed $100 investment in the Russell RSCC Materials & Processing Growth Index, assuming reinvestment of all dividends.

(7)	Reflects Net Income (Loss) reported in the Company’s Consolidated Income Statements included in the Company’s Annual Report on Form 10-K for each of the fiscal years ended June 30, 2023, 2022 and 2021.

(8)	Company-selected measure is Adjusted Operating Income, which is Net Sales minus Operating Expenses (includes cost of sales, and selling, general and administrative expenses), excluding special items.

Company Selected Measure Name

Adjusted Operating Income

Named Executive Officers, Footnote

◾

Fiscal year 2023: Timothy Lain, James D. Dee, Brian J. Malloy, and David Graf

◾

Fiscal year 2022: Timothy Lain, James D. Dee, Brian J. Malloy, and David Graf

◾

Fiscal year 2021: Timothy Lain, James D. Dee, Brian J. Malloy, and Joseph E. Haniford

Peer Group Issuers, Footnote

Peer Group TSR represents the cumulative investment return of an initial fixed $100 investment in the Russell RSCC Materials & Processing Growth Index, assuming reinvestment of all dividends.

PEO Total Compensation Amount

$ 6,432,797

$ 4,814,008

$ 5,019,390

PEO Actually Paid Compensation Amount

$ 16,151,965

1,682,799

9,304,822

Adjustment To PEO Compensation, Footnote

(2)

S-K


Fiscal Year	2023 ($)			2022 ($)			2021 ($)
CEO		T. Thene			T. Thene			T. Thene
SCT Total Compensation		6,432,797			4,814,008			5,019,390
Minus stock and option award values reported in the SCT for the covered fiscal year		(3,785,070	)		(3,285,016	)		(2,900,812	)
Plus Fair Value (“FV”) for stock and option awards granted in the covered fiscal year		6,512,582			2,566,045			5,262,546
Change in FV of stock and option awards from prior fiscal years that vested in the covered fiscal year		3,587,119			(472,703	)		651,157
Change in FV of outstanding unvested stock and option awards from prior fiscal years		3,404,537			(1,939,535	)		1,272,541
Less FV of stock and option awards forfeited during the covered fiscal year		0			0			0
Less aggregate change in actual present value of accumulated benefits under pension plans		0			0			0
Plus aggregate service costs and prior service costs for pension plans		0			0			0
Compensation Actually Paid		16,151,965			1,682,799			9,304,822

Non-PEO NEO Average Total Compensation Amount

$ 1,578,747

1,253,777

1,306,967

Non-PEO NEO Average Compensation Actually Paid Amount

$ 3,197,686

753,292

1,948,064

Adjustment to Non-PEO NEO Compensation Footnote

(4)

S-K

and do not necessarily reflect compensation actually earned, realized or received by the Company’s

non-CEO

NEOs during the applicable year. For information regarding the decisions made by our Human Capital Management Committee with regard to the

non-CEO

NEOs’ compensation for each fiscal year, please see the CD&A sections of the Proxy Statements reporting pay for the fiscal years covered in the table above.


Fiscal Year	2023 ($)			2022 ($)			2021 ($)
Non-CEO NEOs		See (3) above			See (3) above			See (3) above
SCT Total Compensation		1,578,747			1,253,777			1,306,967
Minus stock and option award values reported in the SCT for the covered fiscal year		(625,016	)		(593,780	)		(495,029	)
Plus FV for stock and option awards granted in the covered fiscal year		1,075,403			463,822			898,062
Change in FV of stock and option awards from prior fiscal years that vested in the covered fiscal year		566,477			(69,370	)		76,664
Change in FV of outstanding unvested stock and option awards from prior fiscal years		601,209			(302,087	)		161,197
Less FV of stock and option awards forfeited during the covered fiscal year		0			0			0
Less aggregate change in actual present value of accumulated benefits under pension plans		0			0			(745	)
Plus aggregate service costs and prior service costs for pension plans		866			930			948
Compensation Actually Paid		3,197,686			753,292			1,948,064

Equity Valuation Assumption Difference, Footnote

Equity Valuations for CEO and

Non-CEO

NEOs:

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Total Shareholder Return Vs Peer Group

Tabular List, Table


Measure	Nature	Explanation
Adjusted Operating Income	Financial	Net Sales minus Operating Expenses (includes cost of sales, and selling, general and administrative expenses), excluding specials items.
Adjusted Free Cash Flow	Financial	Cash flows provided from operating activities, less: ▶ cash paid for purchases of property, plant, equipment and software, and acquisitions of businesses; plus: ▶ cash received from the disposal of property, plant and equipment.
Adjusted EBITDA	Financial	Earnings before interest, taxes, depreciation, and amortization adjusted for special items
Safety	Non-Financial	Emphasizes that our employees’ safety is our top priority. Measured using a Human Performance Rate metric comprised of closed Bradley Actions and STOPS per 100 full-time workers during a one-year period.

Total Shareholder Return Amount

$ 120

136

Peer Group Total Shareholder Return Amount

153

147

210

Net Income (Loss)

$ 56,000,000

$ (49,000,000)

$ (230,000,000)

Company Selected Measure Amount

133,000,000

(4,000,000)

(106,000,000)

PEO Name

Tony Thene