SEC Filing - LSB Industries

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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

73107

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LSB INDUSTRIES INC [ LXU ]

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)
07/08/2004

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								82,552	D
Common Stock								1,394,299	I	By SBL Corp.⁽¹⁾
Common Stock	01/08/2004		S		4,000	D	$6	120,350⁽³⁾	I	By Spouse⁽²⁾
Common Stock	01/08/2004		S		1,000	D	$6.05	119,350	I	By Spouse⁽²⁾
Common Stock	01/09/2004		S		10,000	D	$6.05	109,350	I	By Spouse⁽²⁾
Common Stock	01/21/2004		S		5,000	D	$6.4	104,350	I	By Spouse⁽²⁾
Common Stock	02/10/2004		S		5,000	D	$6.99	99,350	I	By Spouse⁽²⁾
Common Stock	02/27/2004		S		5,000	D	$7.45	94,350	I	By Spouse⁽²⁾
Common Stock	03/09/2004		S		2,500	D	$8.61	91,850	I	By Spouse⁽²⁾
Common Stock	03/10/2004		S		1,000	D	$8.55	90,850	I	By Spouse⁽²⁾
Common Stock	03/24/2004		S		1,500	D	$8.5	89,350	I	By Spouse⁽²⁾
Common Stock	04/26/2004		S		1,300	D	$7.85	88,050	I	By Spouse⁽²⁾
Common Stock	05/06/2004		S		2,700	D	$7.85	85,350	I	By Spouse⁽²⁾
Common Stock	06/03/2004		S		1,000	D	$7.75	84,350	I	By Spouse⁽²⁾
Common Stock	06/04/2004		S		1,000	D	$7.75	83,350	I	By Spouse⁽²⁾
Common Stock	06/30/2004		S		2,170	D	$6.95	81,180	I	By Spouse⁽²⁾
Common Stock	07/09/2004		S		2,000	D	$7.12	79,180	I	By Spouse⁽²⁾
Common Stock	07/13/2004		S		2,000	D	$7.65	77,180	I	By Spouse⁽²⁾
Common Stock	01/13/2004		G	V	18,000	A	$0.00	134,952	I	As Trustee⁽⁴⁾
Common Stock	02/10/2004		S		2,000	D	$6.95	132,952	I	As Trustee⁽⁴⁾

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)
Nonqualified Stock Option	$1.25							07/20/2000	07/20/2009	Common Stock	40,000		40,000	I	By Spouse⁽²⁾
Nonqualified Stock Option	$4.538							07/20/2000	07/20/2007	Common Stock	80,000		80,000	I	By Spouse⁽²⁾
Nonqualified Stock Option	$5.362							07/20/2000	07/20/2007	Common Stock	5,000		5,000	I	By Spouse⁽²⁾
Nonqualified Stock Option	$1.375							07/20/2000	07/20/2009	Common Stock	60,000		60,000	I	By Spouse⁽²⁾

Explanation of Responses:

1. These shares are owned of record by SBL Corporation ("SBL"), which is wholly owned by Sylvia Golsen (40% owner), Barry Golsen (20% owner), Steve Golsen (20% owner), and Linda Rappaport (20% owner). The number of shares beneficially owned by SBL includes 88,100 shares owned of record by Golsen Petroleum Corporation, the wholly owned subsidiary of SBL.

2. These shares are owned of record by Mrs. Rappaport's spouse. Mrs. Rappaport disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.

3. This amount includes (a) the open market acquisition by Mrs. Rappaport's spouse of a total of 52,500 shares through six purchases in 2000, as follows: 30,000 at $0.8125 on 4/12/00; 10,000 at $0.75 on 4/14/00; 5,000 at $0.75 on 4/17/00; 5,000 at $0.70 on 5/16/00; and 2,500 at $0.75 on 6/30/00; and (b) the open market sale of a total of 52,500 shares through eight sales in 2003 as follows: 12,500 at $4.725 on 5/15/03; 2,800 at $4.25 on 6/2/03; 1,500 at $4.175 on 6/3/03; 500 at $3.725 on 6/4/03; 6,800 at $3.60 on 6/6/03; 8,200 at $3.625 on 6/9/03; 10,700 at $3.725 on 6/10/03; and 9,500 at $3.675 on 6/11/03.

4. These shares are owned of record by four trusts established for the benefit of the grandchildren of Jack E. Golsen and Sylvia H. Golsen and one trust established for the benefit of the great grandchild of Jack E. Golsen and Sylvia H. Golsen. Linda F. Rappaport is a co-trustee of these five trusts.

	Jack E. Golsen, Attorney-In-Fact	07/19/2004
	** 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.