LSB INDUSTRIES, INC. — Director's Dealing 2011

Mar 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LSB INDUSTRIES INC (LXU)
CIK: 0000060714
Period of Report: 2011-03-09

Reporting Person: RYDLUND PAUL (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-09	Common Stock	M	3500	$2.73	Acquired	3500	Indirect
2011-03-09	Common Stock	S	3500	$36.04	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-09	Incentive Stock Option	$2.73	M	3500	Disposed	2011-09-29	Common Stock (3500)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Option	$5.10	2015-11-17	Common Stock (8000)	8000	Direct

Footnotes

F1: Immediately after the reporting person acquired these shares upon the exercise of the stock option as reported in Table II, the shares were transferred by the reporting person into a trust of which the reporting person is settlor and trustee, with voting and dispositive power over the securities held in the trust.

F2: Incentive Stock Options ("ISO") granted by the Issuer to the reporting person under the Issuer's incentive stock option plan. Each ISO allows the purchase of shares of the Issuer's common stock upon the exercise thereof. Each ISO expires 10 years from the date of grant, and each ISO is currently fully vested and exercisable. As of the date of this report, the total number of shares of common stock underlying all ISOs is 8,000.