Filing Details

Accession Number:
0001140361-10-040184
Form Type:
4
Zero Holdings:
No
Publication Time:
2010-10-05 20:28:37
Reporting Period:
2010-10-01
Filing Date:
2010-10-05
Accepted Time:
2010-10-05 20:28:37
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
60714 Lsb Industries Inc LXU Industrial Inorganic Chemicals (2810) 731015226
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1402465 Golsen Family Llc 16 South Pennsylvania Avenue
Oklahoma City OK 73107
No No Yes No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2010-10-01 63,971 $19.00 590,005 No 4 S Direct
Common Stock Disposition 2010-10-04 10,498 $19.05 579,507 No 4 S Direct
Common Stock Disposition 2010-10-05 25,531 $19.13 553,976 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
No 4 S Direct
No 4 S Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 1,886,054 Indirect By SBL
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock 5.5% Convertible Debentures $0.00 2012-07-01 145,600 0 Indirect
Common Stock Series B Preferred $0.00 133,333 4,000 Direct
Common Stock Series B Preferred $0.00 533,333 16,000 Indirect
Common Stock Series D Preferred $0.00 250,000 1,000,000 Indirect
Expiration Date Amount Remaning Holdings Nature of Ownership
2012-07-01 145,600 0 Indirect
133,333 4,000 Direct
533,333 16,000 Indirect
250,000 1,000,000 Indirect
Footnotes
  1. Golsen Family, L.L.C. ("GFLLC") is owned by Jack E. Golsen, chief executive officer and chairman of the board of the Issuer, through his revocable trust (43.516%), his spouse, Sylvia Golsen through her revocable trust (43.516%), his sons, Barry H. Golsen, a director and the president of the Issuer (4.323%), and Steven J. Golsen, executive officer of a subsidiary of the Issuer (4.323%), and his daughter, Linda F. Rappaport (4.322%).
  2. SBL, LLC ("SBL") is owned by GFLLC (49%), Barry Golsen (17%), Steven Golsen (17%), and Linda Rappaport (17%). Golsen Petroleum Corporation ("GPC") is a wholly owned subsidiary of SBL. The amount shown in Table I includes 1,632,099 shares owned by SBL and 283,955 shares owned directly by GPC, and the amount shown in Table II includes 12,000 shares of the Issuer's Series B Preferred owned by SBL and 4,000 shares of the Issuer's Series B Preferred owned directly by GPC. Voting and dispositive power over the securities held by SBL and GPC is possessed by Jack E. Golsen, who is the chief executive officer and chairman of the board of the Issuer, and Barry Golsen, a director and the president of the Issuer.
  3. This amount is the principal amount of the Issuer's 5.5% Convertible Senior Subordinated Debentures due 2012 (the "Debentures") held by the reporting person. The Debentures are convertible at the option of the holder in whole or in part into the Issuer's common stock prior to their maturity. The conversion rate of the Debentures is 36.4 shares of the Issuer's common stock per $1,000 principal amount of debentures (representing a conversion price of $27.47 per share of common stock), subject to adjustment under certain conditions as set forth in the Indenture, dated June 28, 2007 (the "Indenture"), by the Issuer in favor of UMB Bank, N.A., as Trustee, filed as Exhibit 4.2 to the Issuer's Form 8-K on June 29, 2007. The Debentures bear interest at the rate of 5.5% per year and mature on July 1, 2012.
  4. Each share of the Issuer's Series "B" 12% Cumulative Preferred Stock is convertible, at the option of the holder into 33.3333 shares of the Issuer's common stock. Each share is convertible as long as such is outstanding.
  5. The Company's Series "D" 6% Cumulative, Convertible Class C Preferred Stock is convertible at the option of the holder into the Issuer's common stock at the rate of four shares of Preferred "D" for one share of common stock. Each share is convertible as long as such is outstanding.
  6. On October 1, 2010, GFLLC sold a total of 63,791 shares of the Issuer's common stock at the weighted average price per share of $19.00, which is based on multiple prices ranging from $19.00 to $19.08. The reporting persons undertake to provide to the Issuer, any Securityholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range. These shares were sold pursuant to the Rule 10b5-1 Sales Plan adopted by GFLLC on August 19, 2010.
  7. On October 4, 2010, GFLLC sold a total of 10,498 shares of the Issuer's common stock at the weighted average price per share of $19.05, which is based on multiple prices ranging from $19.00 to $19.18. The reporting persons undertake to provide to the Issuer, any Securityholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range. These shares were sold pursuant to the Rule 10b5-1 Sales Plan adopted by GFLLC on August 19, 2010.
  8. On October 5, 2010, GFLLC sold a total of 25,531 shares of the Issuer's common stock at the weighted average price per share of $19.13, which is based on multiple prices ranging from $19.01 to $19.37. The reporting persons undertake to provide to the Issuer, any Securityholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range. These shares were sold pursuant to the Rule 10b5-1 Sales Plan adopted by GFLLC on August 19, 2010.