Filing Details

Accession Number:
0001140361-11-034800
Form Type:
4
Zero Holdings:
No
Publication Time:
2011-06-30 17:34:55
Reporting Period:
2011-06-29
Filing Date:
2011-06-30
Accepted Time:
2011-06-30 17:34:55
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
1005711 F Linda Rappaport 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 1,861 $45.00 57,715 No 4 S Indirect By GFLLC
Common Stock Disposition 2011-06-30 810 $45.25 56,905 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 30,000 Direct
Common Stock 81,433 Indirect By Spouse
Common Stock 320,629 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 1,542 0 Indirect
Common Stock 5.5% Convertible Debentures $0.00 12,376 0 Indirect
Common Stock Series B Preferred $0.00 17,061 512 Indirect
Common Stock Series B Preferred $0.00 90,666 2,720 Indirect
Common Stock Series D Preferred $0.00 42,500 170,000 Indirect
Common Stock Series D Preferred $0.00 5,296 21,183 Indirect
Expiration Date Amount Remaning Holdings Nature of Ownership
1,542 0 Indirect
12,376 0 Indirect
17,061 512 Indirect
90,666 2,720 Indirect
42,500 170,000 Indirect
5,296 21,183 Indirect
Footnotes
  1. These shares are owned of record by the reporting person's spouse. The reporting person 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 any purpose, including Section 16 of the Securities Exchange Act of 1934, as amended.
  2. 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, the reporting person (4.323%). The reporting person disclaims beneficial ownership of the Issuer securities held by GFLLC, except to the extent of her pecuniary interest therein.
  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 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 shared 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.
  4. The amount of Issuer securities shown as beneficially owned by the reporting person is based on the reporting person's proportionate ownership in (1) GFLLC, which is comprised of (a) GFLLC's direct ownership of Issuer securities and (b) GFLLC's indirect ownership of Issuer securities through its proportionate ownership in SBL, and (2) SBL, which is comprised of SBL's direct ownership of Issuer securities.
  5. 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.
  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. 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.
  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.