LSB INDUSTRIES, INC. — Director's Dealing 2009

May 20, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LSB INDUSTRIES INC (LXU)
CIK: 0000060714
Period of Report: 2009-05-18

Reporting Person: JONES JIMMIE D (Sr VP/Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-05-18	Common Stock	S	15752	$13.86	Disposed	4500	Direct
2009-05-19	Common Stock	M	35000	$1.25	Acquired	39500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-05-19	Nonqualified Stock Option	$1.25	M	35000	Disposed	2009-07-08	Common Stock (35000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Option	$1.25	2009-07-08	Common Stock (65000)	65000	Direct
Incentive Stock Option	$2.73	2011-11-29	Common Stock (15000)	15000	Direct

Footnotes

F1: On May 18, 2009, the reporting person sold a total of 15,752 shares of the Issuer?s common stock at the weighted average price per share of $13.86, which is based on the following sales of the Issuer?s common stock at the respective price per share: (a) $13.88 - 5,500 shares, (b) $13.87 - 3,600 shares, (c) $13.86 - 3,300 shares, (d) 13.85 - 500 shares, (e) $13.84 - 400 shares, (f) $13.82 - 100 shares, (g) $13.80 - 900 shares, (h) $13.79 - 400 shares, and (i) $13.74 - 1,052 shares.

F2: Incentive Stock Options ("ISO") and Nonqualified Stock Options granted by the Issuer to the reporting person. Only ISOs are currently held by the reporting person, and all are currently exercisable. As of the date of this report, the total number of shares underlying the ISOs held by the reporting person is 80,000.