LSB INDUSTRIES, INC. — Director's Dealing 2009

May 21, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LSB INDUSTRIES INC (LXU)
CIK: 0000060714
Period of Report: 2009-05-19

Reporting Person: SHELBY ANTONIO M (Director, Exec VP-Fin/CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-05-19	Common Stock	S	30000	$14.08	Disposed	170039	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Option	$2.73	2011-11-29	Common Stock (15000)	15000	Direct

Footnotes

F1: On May 19, 2009, the reporting person sold a total of 30,000 shares of the Issuer?s common stock at the weighted average price per share of $14.08, which is based on the following sales of the Issuer?s common stock at the respective price per share: (a) $14.30 - 100 shares, (b) $14.29 - 332 shares, (c) $14.28 - 741 shares, (d) $14.27 - 1,127 shares, (e) $14.26 - 1,200 (f) $14.25 - 600 shares, (g) $14.24 - 1,600 shares, (h) $14.23 - 1,200 shares, (i) $14.22 - 1,100 shares, (j) $14.21 - 300 shares, (k)$14.20 - 1,100 shares, (l) $14.19 - 2,837 shares, (m) $14.18 - 1,220 shares, (n) $14.17 - 1,181 shares, (o) $14.16 - 1,262 shares, (p) $14.15 - 100 shares, (q) $14.14 - 300 shares, (r) $14.13 - 300 shares, (s) $14.10 - 200 shares, (t) $14.09 - 300 shares, (u) $14.08 - 700 shares, (v) $14.07 - 258 shares, (w) $14.06 - 300 shares, (x) $14.05 - 1,000 shares, (y) $14.04 - 1,642 shares, (z) $14.03 - 200 shares, (continued in footnote 2).

F2: (Continued from footnote 1) (aa) $14.02 - 400 shares, (bb) $14.01 - 1,000 shares, (cc) $14.00 - 1,200 shares, (dd) $13.98 - 300 shares, (ee) $13.92 - 100 shares, (ff) $13.91 - 700 shares, (gg) $13.90 - 200 shares, (hh) $13.89 - 100 shares, (ii) $13.87 - 100 shares, (jj) $13.86 - 200 shares, (kk) $13.85 - 100 shares, (ll) $13.84 - 300 shares, (m) $13.82 - 100 shares, (nn) $13.80 - 100 shares, (oo) $13.78 - 100 shares, (pp) $13.77 - 600 shares, (qq) $13.76 - 400 shares, (rr) $13.75 - 900 shares, (ss) $13.72 - 500 shares, (tt) $13.71 - 300 shares, (uu) $13.68 - 500 shares, (vv) $13.67 - 200 shares, (ww) $13.66 - 300 shares, (xx) $13.65 - 100 shares.

F3: Incentive Stock Options ("ISO") granted by the Issuer to the reporting person. ISOs held by the reporting person are currently exercisable. As of the date of this report, the total number of shares underlying the ISOs held by the reporting person is 15,000.