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Filing Details

Accession Number:: 0001140361-12-038615
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-08-28 13:18:11
Reporting Period:: 2012-08-24

Filing Date:: 2012-08-28
Accepted Time:: 2012-08-28 13:18:11
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
1005712	E Jack Golsen	P O Box 705 Oklahoma City OK 73102	Chairman Of The Board And Ceo	Yes	Yes	Yes	No
1005713	H Sylvia Golsen	P O Box 705 Oklahoma City OK 73102		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common	Disposition	2012-08-24	24,352	$38.34	0	No	4	S	Indirect	As Trustee

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	As Trustee

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common	4,000	Direct
Common	15,876	Indirect	By Spouse
Common	569,304	Indirect	As Trustee
Common	15,392	Indirect	By GFLLC
Common	1,900,754	Indirect	By SBL

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
Common	Series D Preferred	$0.00	250,000	1,000,000	Indirect
Common	Series B Preferred	$0.00	533,333	16,000	Indirect
Common	Series B Preferred	$0.00	133,333	4,000	Indirect

Amount	Remaning Holdings	Nature of Ownership
250,000	1,000,000	Indirect
533,333	16,000	Indirect
133,333	4,000	Indirect

Footnotes

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, director and the president of the Issuer (4.323%), and Steven J. Golsen, a director of the Issuer and an executive officer of a subsidiary of the Issuer (4.323%), and his daughter, Linda F. Rappaport (4.323%). Jack E. Golsen shares voting and dispositive power with his spouse over the Issuer securities held by GFLLC and shares voting and dispositive power over the Issuer securities held by SBL (see footnote 2). The reporting persons report beneficial ownership of all securities held by GFLLC and SBL due to Jack E. Golsen's shared voting and dispositive power over the securities beneficially owned by GFLLC and SBL, but disclaim beneficial ownership of such securities, except to the extent of their respective pecuniary interest.
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 1,616,799 shares of common stock owned directly by SBL and 283,955 shares of common stock owned directly by GPC, and the amount shown in Table II includes 12,000 shares of the Issuer's Series B Preferred owned directly 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 shared by Jack E. Golsen, who is the chief executive officer and chairman of the board of the Issuer, and Barry H. Golsen, a director and the president of the Issuer.
These shares of common stock are owned of record by the reporting person through his trust, the Jack E. Golsen 1992 Trust, of which the reporting person is settlor and trustee, with voting and dispositive power over the securities held in the trust.
These shares of common stock are owned of record by the reporting person's spouse, through her trust, the Sylvia H. Golsen 1992 Trust, of which Sylvia H. Golsen is settlor and trustee.
These shares are held by separate trusts established for the benefit of the children, grandchildren, and a great-grandchild (the "Trusts") of the reporting persons, of which Jack E. Golsen is the settlor and sole trustee. The amount shown is the aggregate number of shares held in the Trusts. No single Trust has more than one beneficiary. As the sole trustee, Mr. Golsen possesses sole voting and dispositive power over the Issuer securities held in the Trusts, but holds no pecuniary interest in the securities held by the Trusts.
The Issuer'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.
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.
On August 24, 2012, the Jack E. Golsen 1992 Trust sold a total of 24,352 shares of the Issuer's common stock at the weighted average price per share of $38.34, which is based on multiple prices ranging from $38.22 to $38.61. The reporting person undertakes to provide to the Issuer, any security holder 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 the range.