GRAHAM CORP — Director's Dealing 2009

Jun 1, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2009-05-28

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-05-28	Stock Option (Right to Buy)	$15.22	A	4693	Acquired	2019-05-28	Common Stock (4693)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1400	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

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 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.