GRAHAM CORP — Director's Dealing 2007

Aug 24, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2007-08-15

Reporting Person: MAZURKIEWICZ GERARD T (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-08-15	Stock Option (Right to Buy)	$31.30	A	2000	Acquired	2017-08-15	Common Stock, $.10 par value (2000)	Direct

Footnotes

F1: This option was granted under the 2000 Graham Corporation Incentive Plan to Increase Shareholder Value in a transaction exempt under Rule 16b-3 and is exercisable pro rata on the first, second, third and fourth anniversaries of the grant date.