LSB INDUSTRIES, INC. — Director's Dealing 2012

Mar 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LSB INDUSTRIES INC (LXU)
CIK: 0000060714
Period of Report: 2012-03-05

Reporting Person: MURRAY JAMES WILLIAM III (VP/Sr Assoc Gen Couns/Asst Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-05	Common Stock	M	1650	$9.69	Acquired	1650	Direct
2012-03-05	Common Stock	S	1650	$39.60	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-05	Incentive Stock Option	$9.69	M	1650	Disposed	2018-10-13	Common Stock (1650)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Option	$34.50	2021-11-14	Common Stock (5000)	5000	Direct

Footnotes

F1: Incentive Stock Option ("ISO") granted by the Issuer to the reporting person under the Issuer's Incentive Stock Option Plans. An ISO for 10,000 shares of the Issuer's common stock exercisable at $9.69, with an expiration date of October 13, 2018, was granted to the reporting person on October 13, 2008. An ISO for 5,000 shares of the Issuer's common stock exercisable at $34.50, with an expiration date of November 14, 2021, was granted to the reporting person on November 14, 2011. Each ISO is for a term of ten years and vests at the end of its respective years one through six in the following amounts: 16.5%, 16.5%, 16.5%, 16.5%, 16.5% and 17.5%. Each ISO will be fully vested at the end of year six. As of the date of this report, the total number of shares underlying the ISOs are 10,050.