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*
RAPPAPORT LINDA F

(Last) (First) (Middle)
16 SOUTH PENNSYLVANIA AVENUE

(Street)
OKLAHOMA CITY OK 73107

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LSB INDUSTRIES INC [ LSBD ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
09/25/2003
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)
Code V Amount (A) or (D) Price
Common Stock 09/25/2003 S 26,400 D $5 0(3)(2) I As Trustee(1)
Common Stock 09/26/2003 S 15,600 D $4.98 229,506(3)(2) I As Trustee(1)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. These shares are held of record by seven trusts (the "Granchildren's Trusts") established for the benefit of the grandchildren and great-grandchild of Jack E. Golsen and Sylvia H. Golsen. Linda F. Rappaport is a co-trustee of these trusts.
2. The total number of non-derivative securities beneficially owned by Linda F. Rappaport following the reported transaction is comprised as follows: (a) 82,552 shares held directly; (b) 229,506 shares are indirectly held by Mrs. Rappaport for the benefit of the Grandchildren's Trusts and an additional trust established for the benefit of the great grandchild of Jack E. Golsen and Sylvia H. Golsen, of which Mrs. Rappaport is a co-trustee; and (c) 1,424,299 shares beneficially owned by SBL Corporation ("SBL"), which is wholly owned by Sylvia Golsen (40% owner), Barry Golsen (20% owner), Steven Golsen (20% owner), and Linda Rappaport (20% owner), over which Mrs. Rappaport has indirect beneficial ownership. The number of shares beneficially owned by SBL includes shares owned beneficially by Golsen Petroleum Corporation, the wholly owned subsidiary of SBL.
3. The total amounts referenced in Footnote 2 above do not include 124,350 shares of Common Stock and 185,000 shares of Common Stock under nonqualified stock options owned of record by Mrs. Rappaport's husband. Mrs. Rappaport disclaims beneficial ownership of the shares owned by her husband.
Linda F. Rappaport 09/29/2003
** 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).
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