LSB INDUSTRIES, INC. — Director's Dealing 2008

Mar 17, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LSB INDUSTRIES INC (LXU)
CIK: 0000060714
Period of Report: 2008-03-13

Reporting Person: RHODES HORACE G (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-13	Common Stock	P	500	$18.49	Acquired	1500	Direct
2008-03-13	Common Stock	G	500	—	Disposed	1000	Direct
2008-03-13	Common Stock	G	500	—	Acquired	500	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Nonqualified Stock Option	$1.25	2009-07-08	Common Stock (15000)	15000	Direct

Footnotes

F1: These shares are held by a revocable trust of which the reporting person's spouse is the settlor and co-trustee and possesses a pecuniary interest in the securities held by the Trust.

F2: Nonqualified Stock Option ("NQSO") to purchase shares of Issuer's Common Stock granted pursuant to the Issuer's Outside Directors Stock Option Purchase Plan (the "1999 Plan"). NQSOs granted under the 1999 Plan may be exercised at any time after six months from the date the NQSO was granted. To the extent not exercised, the NQSO granted under the 1999 Plan terminates (i) upon the tenth anniversary of the date the NQSO was granted, (ii) three years after the cessation of the optionee as a member of the Board of Directors of the Issuer, or (iii) upon the surrender of the Non-Qualified Stock Option Agreement dated July 8, 1999, for cancellation of the NQSO.