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Filing Details

Accession Number:: 0001140361-15-022419
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-05-29 17:13:05
Reporting Period:: 2015-05-28

Filing Date:: 2015-05-29
Accepted Time:: 2015-05-29 17:13:05
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

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2015-05-28	1,000	$42.50	60,433	No	4	S	Indirect	By Spouse

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Spouse

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	30,000	Direct
Common Stock	14,578	Indirect	As Trustee
Common Stock	35,192	Indirect	By GFLLC
Common Stock	277,091	Indirect	By SBL

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
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	5,296	21,183	Indirect
Common Stock	Series D Preferred	$0.00	42,500	170,000	Indirect

Amount	Remaning Holdings	Nature of Ownership
17,061	512	Indirect
90,666	2,720	Indirect
5,296	21,183	Indirect
42,500	170,000	Indirect

Footnotes

These shares are owned of record by the reporting person through her trust, the Linda F. Rappaport 2011 Trust, of which the reporting person is settlor and trustee, with voting and dispositive power over the securities held in the trust.
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.
Golsen Family, L.L.C. ("GFLLC") is owned by Jack E. Golsen, executive chairman of the board of the Issuer, through his revocable trust (43.516%) and another trust (43.516%), his sons, Barry Golsen, a director and the president and chief executive officer of the Issuer (4.323%), and Steven Golsen, an executive officer of a subsidiary of the Issuer (4.323%), and his daughter, Linda Rappaport (4.323%). The Issuer securities reported as beneficially owned by GFLLC include the shares beneficially owned by GFLLC through SBL (see footnote 3). The reporting person disclaims beneficial ownership of the Issuer securities held by GFLLC, except to the extent of her pecuniary interest therein.
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 1,345,999 shares owned directly by SBL and 283,955 shares owned directly by GPC; 200,000 of these shares have been pledged as collateral. 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.
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 (a) SBL's direct ownership of Issuer securities and (b) SBL's indirect ownership of Issuer securities through GPC. The reporting person disclaims beneficial ownership of the Issuer securities held by GFLLC, except to the extent of her pecuniary interest therein.
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.
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.