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: 2011-03-28

Reporting Person: BROWN ROBERT C MD (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-28	Common Stock	S	10000	$40.00	Disposed	21160	Indirect
2011-03-28	Common Stock	S	10000	$40.00	Disposed	40727	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 pursuant to a Rule 10b5-1 sales plan, dated March 10, 2011. These shares are held in a joint account owned by the Robert C. Brown Revocable Trust, DTD 08/27/99, of which the reporting person is settlor and trustee and the Zelda F. Brown Revocable Trust, DTD 08/27/99, of which the reporting person's spouse is settlor and trustee.

F2: These shares were sold pursuant to a Rule 10b5-1 sales plan, dated March 10, 2011.

F3: 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 November 13, 2008, 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.