GRAHAM CORP - Director's Dealing 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2008-06-05

Reporting Person: LEMCKE H RUSSEL (Director)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-06-05	Common Stock	G	10000	—	Disposed	28570	Direct
2008-06-05	Common Stock	G	10000	—	Acquired	10000	Indirect
2008-06-05	Common Stock	S	500	$76.32	Disposed	9500	Indirect
2008-06-05	Common Stock	S	55	$76.26	Disposed	9445	Indirect
2008-06-05	Common Stock	S	31	$76.20	Disposed	9414	Indirect
2008-06-05	Common Stock	S	100	$76.07	Disposed	9314	Indirect
2008-06-05	Common Stock	S	260	$76.04	Disposed	9054	Indirect
2008-06-05	Common Stock	S	240	$76.03	Disposed	8814	Indirect
2008-06-05	Common Stock	S	19	$76.01	Disposed	8795	Indirect
2008-06-05	Common Stock	S	200	$75.99	Disposed	8595	Indirect
2008-06-05	Common Stock	S	300	$75.98	Disposed	8295	Indirect
2008-06-05	Common Stock	S	1200	$75.90	Disposed	7095	Indirect
2008-06-05	Common Stock	S	100	$75.86	Disposed	6995	Indirect
2008-06-05	Common Stock	S	790	$75.85	Disposed	6205	Indirect
2008-06-05	Common Stock	S	10	$75.84	Disposed	6195	Indirect
2008-06-05	Common Stock	S	100	$75.81	Disposed	6095	Indirect
2008-06-05	Common Stock	S	4295	$75.75	Disposed	1800	Indirect
2008-06-05	Common Stock	S	100	$75.68	Disposed	1700	Indirect
2008-06-05	Common Stock	S	100	$75.64	Disposed	1600	Indirect
2008-06-05	Common Stock	S	700	$75.57	Disposed	900	Indirect
2008-06-05	Common Stock	S	138	$75.51	Disposed	762	Indirect
2008-06-05	Common Stock	S	100	$75.44	Disposed	662	Indirect
2008-06-05	Common Stock	S	62	$75.31	Disposed	600	Indirect
2008-06-05	Common Stock	S	100	$75.30	Disposed	500	Indirect
2008-06-05	Common Stock	S	100	$75.29	Disposed	400	Indirect
2008-06-05	Common Stock	S	100	$75.27	Disposed	300	Indirect
2008-06-05	Common Stock	S	300	$75.25	Disposed	0	Indirect

F1: These shares are owned by a foundation of which Mr. Lemcke is an affiliate.