LSB INDUSTRIES, INC. — Director's Dealing 2010

Dec 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LSB INDUSTRIES INC (LXU)
CIK: 0000060714
Period of Report: 2010-12-09

Reporting Person: ACKERMAN RAYMOND BASIL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-09	Common Stock	S	1000	$24.29	Disposed	8600	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1450	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Nonqualified Stock Option	$7.86	2018-11-13	Common Stock (5000)	5000	Direct

Footnotes

F1: These shares were sold at the weighted average price per share of $24.29, which is based on multiple sale prices ranging from $24.27 to $24.31. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

F2: These shares are held by the Lucille F. Ackerman Living Trust, a revocable trust, of which the reporting person's spouse is the settlor and trustee and possesses a vested interest in the income and corpus of the trust.

F3: These shares are held by the Raymond B. Ackerman Living Trust, a revocable trust, of which Mr. Ackerman is the settlor and trustee and possesses a vested interest in the income and corpus of the trust.

F4: Nonqualified Stock Option ("NQSO") granted by the Issuer to the reporting person under the Issuer's 2008 Incentive Stock Plan. The NQSO is for a term of ten years from the date of grant, and the exercise price of the NQSO is based on the fair market value of the Issuer's common stock on the date of grant. This NQSO vests at the end of years one through six in the following amounts: 16.5%, 16.5%, 16.5%, 16.5%, 16.5% and 17.5%. This NQSO will be fully vested at the end of year six.