GRAHAM CORP — Director's Dealing 2009

Aug 17, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2009-08-14

Reporting Person: Glajch Jeffrey (VP-Finance; CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-08-14	Common Stock	P	1000	$13.20	Acquired	2400	Direct
2009-08-14	Common Stock	P	920	$13.18	Acquired	3320	Direct
2009-08-14	Common Stock	P	1000	$13.14	Acquired	4320	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$8.01	2019-03-02	Common Stock (1000)	1000	Direct
Stock Option (Right to Buy)	$15.22	2019-05-28	Common Stock (4693)	4693	Direct

Footnotes

F1: This option was previously reported by Mr. Glajch and is exercisable pro rata on the first, second, third and fourth anniversaries of the 3/2/09 grant date.

F2: This option was previously reported by Mr. Glajch and is exercisable 33 1/3% per year over three years beginning on the anniversary of the 5/28/09 grant date.