Filing Details

Accession Number:
0001140361-11-034764
Form Type:
4
Zero Holdings:
No
Publication Time:
2011-06-30 16:56:53
Reporting Period:
2011-06-29
Filing Date:
2011-06-30
Accepted Time:
2011-06-30 16:56:53
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
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2011-06-29 43,040 $45.00 410,936 No 4 S Indirect By GFLLC
Common Stock Disposition 2011-06-30 18,745 $45.25 392,191 No 4 S Indirect By GFLLC
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Indirect By GFLLC
No 4 S Indirect By GFLLC
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 391,680 Indirect As Trustee
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 72,800 0 Indirect
Common Stock Series D Preferred $0.00 250,000 1,000,000 Indirect
Common Stock Series B Preferred $0.00 533,333 16,000 Indirect
Common Stock Series B Preferred $0.00 133,333 4,000 Indirect
Common Stock Promissory Note $0.00 4,000 0 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
72,800 0 Indirect
250,000 1,000,000 Indirect
533,333 16,000 Indirect
133,333 4,000 Indirect
4,000 0 Direct
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, 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 (4.323%). 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 3 regarding SBL and the beneficial ownership of Issuer securities held by SBL. 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 o
  2. These shares are held by 10 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 and disclaims beneficial ownership of the shares held in the Trusts.
  3. 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 1,602,099 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.
  4. The Issuer's 5.5% Convertible Senior Subordinated Debentures due in 2012 (the "Debentures") are convertible at any time 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.
  5. 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.
  6. 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.
  7. Mr. Golsen holds a note from the Issuer payable on demand and convertible, at the option of the holder, at the rate of $2.00 for each share of common stock. The principal amount of the note is $8,000.
  8. The shares were sold pursuant to the Rule 10b5-1 Sales Plan adopted by GFLLC on March 24, 2011.
  9. On June 30, 2011, GFLLC sold a total of 18,745 shares of the Issuer's common stock, at the weighted average price per share of $45.25, which is based on multiple prices ranging from $45.02 to $45.44. 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 such range.