GRAHAM CORP — Director's Dealing 2017

May 26, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAHAM CORP (GHM)
CIK: 0000716314
Period of Report: 2017-05-24

Reporting Person: Smith Alan E (VP & General Manager - Batavia)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-24	Common Stock	F	564	$21.85	Disposed	30744	Direct
2017-05-26	Common Stock	F	174	$21.63	Disposed	30570	Direct
2017-05-26	Common Stock	F	219	$21.63	Disposed	30351	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$30.875	2018-05-29	Common Stock (1114)	1114	Direct
Stock Option (Right to Buy)	$15.22	2019-05-28	Common Stock (3571)	3571	Direct
Stock Option (Right to Buy)	$15.25	2020-05-20	Common Stock (3118)	3118	Direct
Stock Option (Right to Buy)	$18.65	2022-05-30	Common Stock (6059)	6059	Direct

Footnotes

F1: Shares withheld to cover tax withholding obligations upon the vesting of a restricted stock award.

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