GRAHAM CORP — Director's Dealing 2017

May 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2017-05-01

Reporting Person: LINES JAMES R (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-01	Common Stock	S	3000	$21.9825	Disposed	96200	Direct
2017-05-02	Common Stock	S	3000	$21.9442	Disposed	93200	Direct
2017-05-03	Common Stock	S	3000	$21.586	Disposed	90200	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$30.875	2018-05-29	Common Stock (2532)	2532	Direct
Stock Option (Right to Buy)	$15.22	2019-05-28	Common Stock (1974)	1974	Direct
Stock Option (Right to Buy)	$15.25	2020-05-20	Common Stock (3092)	3092	Direct
Stock Option (Right to Buy)	$18.65	2022-05-30	Common Stock (10894)	10894	Direct

Footnotes

F1: This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Lines in March 2017.

F2: This option was previously reported by Mr. Lines.