________ ________________________
FORM 4 U.S. Securities and Exchange Commission OMB APPROVAL
________ Washington, D.C. 20549 ________________________
[ ] Check this box if no longer OMB Number 3235-0287
subject to Section 16. Form Expires: February 1, 1994
4 or Form 5 obligations may Estimated average burden
continue. See Instruction 1(b). hours per response... 0.5
________________________
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
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or
Reporting Person Trading Symbol
Rappaport, Linda F. LSB Industries, Inc. (LSB)
________________________________________________________________________
(Last) (First) (Middle) 3. IRS or Social Security
No. of Reporting Person
16 South Pennsylvania (Voluntary)
Post Office Box 705
____________________________________
(Street) ###-##-####
Oklahoma City, Oklahoma 73101
_________________________________________________________________________
(City) (State) (Zip)
4. Statement for Month/Year: December, 1995
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
____ Director X 10% Owner ____ Officer (give title below)
____ Other (specify below)
___________________________________
__________________________________________________________________________
Table I - Non-Derivative Securities Acquired, Disposed Of, or
Beneficially Owned
__________________________________________________________________________
1. Title of 2. Transaction 3. Transaction 4. Securities Acquired
Security Date (Month/ Code (A) or Disposed of
Day/Year) (Instr. 8) (D) (Instr. 3, 4, 5)
Code V Amount (A) Price
or
(D)
Common Stock - - - - -
Common Stock - - - - -
Common Stock 12/01/95 P 1,000 A $3.875
Common Stock 12/04/95 P 1,000 A $3.875
Common Stock 12/04/95 P 1,000 A $3.75
Common Stock 12/05/95 P 3,000 A $3.75
5. Amount of 6. Ownership Form: 7. Nature of
Securities Direct (D) or Indirect
Beneficially Indirect (I) Beneficial
Owned at End (Instr. 4) Ownership
of Month (Instr. 4)
(Instr. 3 & 4)
82,552(1) D -
163,460 I As Trustee(3)
- I By SBL(2)
- I By SBL(2)
- I By SBL(2)
1,098,299(6) I By SBL(2)
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Reminder: Report on a separate line for each Page 1 of 2
class of securities beneficially SEC 1474 (3/91)
owned directly or indirectly
(Print or Type Response)
FORM 4 (continued)Table II - Derivative Securities Acquired, Disposed of,
or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of 2. Conversion 3. Transaction 4. Transaction 5. Number of
Security or Exercise Date Code Derivative
(Instr. 3) Price of (Month/Day/ (Instr. 8) Securities
Derivative Year) Code V Acquired (A)
Security or Disposed
of (D)
(Instr. 3,4,5)
(A) (D)
Preferred "B" (4) - - -
Preferred "C" $11.55 12/06/95 P 1,000
Preferred "C" $11.55 12/06/95 P 500
Preferred "C" $11.55 12/07/95 P 1,000
Preferred "C" $11.55 12/11/95 P 1,000
Preferred "C" $11.55 12/12/95 P 2,000
Preferred "C" $11.55 12/13/95 P 2,000
Preferred "C" $11.55 12/14/95 P 1,000
Preferred "C" $11.55 12/15/95 P 2,000
Preferred "C" $11.55 12/18/95 P 1,000
6. Date Exercisable 7. Title and Amount of 8. Price of
and Expiration Underlying Securities Derivative
Date (Instr. 3 and 4) Security
(Month/Day/Year) Amount (Instr. 5)
Date Expir- or
Exer- ation No. of
cisable Date Title Shares
(4) (4) Common 533,333 -
(5) (5) Common 4,329 $31.50
(5) (5) Common 2,165 $32.25
(5) (5) Common 4,329 $32.25
(5) (5) Common 4,329 $32.00
(5) (5) Common 8,658 $32.00
(5) (5) Common 8,658 $32.00
(5) (5) Common 4,329 $32.00
(5) (5) Common 8,658 $32.00
(5) (5) Common 4,329 $32.25
9. Number of 10. Ownership Form 11. Nature of Indirect
Derivative of Derivative Beneficial Owner-
Securities Security: ship (Instr. 4)
Beneficially Direct (D) or
Owned at End Indirect (I)
of Month (Instr. 4)
(Instr. 4)
16,000(6) I By SBL(2)
- I By SBL(2)
- I By SBL(2)
- I By SBL(2)
- I By SBL(2)
- I By SBL(2)
- I By SBL(2)
- I By SBL(2)
- I By SBL(2)
24,150(6) I By SBL(2)
__________________________
Explanation of Responses:
(1) This amount does not include 122,297 shares of Common Stock and 8,000
shares of Common Stock under incentive stock options owned of record by
Mrs. Rappaport's husband. Mrs. Rappaport disclaims beneficial ownership of
the shares owned by her husband.
(2) SBL Corporation ("SBL") is wholly owned by Sylvia Golsen (40% owner),
Barry Golsen (son and 20% owner), Steve Golsen (son and 20% owner), and
Linda Rappaport (daughter and 20% owner).
(3) These shares are held by six trusts established for the benefit of the
grandchildren of Jack E. Golsen and Sylvia H. Golsen. Mrs. Rappaport is one
of three trustees for the trusts established for the benefit of each of such
grandchildren.
(4) Each share of the Company's Series "B" 12% Cumulative Preferred Stock
is convertible, at the option of the holder, into 33.3333 shares of the
Company's Common Stock. Each share is convertible as long as such is
outstanding.
(5) Each share of the Company's $3.25 Convertible Exchangeable Class C
Preferred Stock, Series 2 is convertible at the option of the holder into
4.329 shares of the Company's Common Stock. Each share is convertible as
long as such is outstanding.
(6) The number of shares includes, as applicable, 60,600 shares of Common
Stock and 4,000 shares of Preferred "B" Stock owned of record by Golsen
Petroleum Corporation, the wholly-owned subsidiary of SBL.
**Intentional misstatements or
omissions of facts constitute
Federal Criminal Violations.
/s/ Linda F. Rappaport January 10, 1996
__________________________ __________________
See 18 U.S.C. 1001 and **Signature of Reporting Date
15 U.S.C. 78ff(a). Person
Linda F. Rappaport
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 2
MBEN\K-M\LSB\FORMS345\EDGAR\12-95F4.LFR SEC 1474 (3/91)
