GRAHAM CORP — Director's Dealing 2008

Jun 2, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2008-05-29

Reporting Person: BERKELEY HELEN H (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-29	Stock Option (Right to Buy)	$61.75	A	462	Acquired	2018-05-29	Common Stock (462)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	163430	Direct

Footnotes

F1: Adjusted to reflect a 5-for-4 stock split in the nature of a stock dividend paid on 1/3/08.

F2: This option was granted under the Amended and Restated 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.