GRAHAM CORP — Director's Dealing 2009

Jun 8, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2009-06-04

Reporting Person: BIDLACK JERALD D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-06-04	Common Stock	S	2000	$13.48	Disposed	41893	Direct
2009-06-04	Common Stock	S	2000	$13.41	Disposed	39893	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$5.56	2015-10-26	Common Stock (5000)	5000	Direct
Stock Option (Right to Buy)	$7.976	2016-06-01	Common Stock (5000)	5000	Direct
Stock Option (Right to Buy)	$6.90	2017-05-31	Common Stock (5000)	5000	Direct
Stock Option (Right to Buy)	$30.875	2018-05-29	Common Stock (924)	924	Direct

Footnotes

F1: This option was previously reported by Mr. Bidlack.

F2: This option was previously reported by Mr. Bidlack and is exercisable pro rata on the first, second, third and fourth anniversaries of the 6/01/06 grant date.

F3: This option was previously reported by Mr. Bidlack and is exercisable pro rata on the first, second, third and fourth anniversaries of the 5/31/07 grant date.

F4: This option was previously reported by Mr. Bidlack and is exercisable pro rata on the first, second, third and fourth anniversaries of the 05/29/08 grant date.