LSB INDUSTRIES, INC. — Director's Dealing 2015

Apr 23, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LSB INDUSTRIES INC (LXU)
CIK: 0000060714
Period of Report: 2015-04-22

Reporting Person: BUTKIN ROBERT A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-22	Common Stock	M	1000	$7.86	Acquired	2393	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-22	Nonqualified Stock Option	$7.86	M	1000	Disposed	2018-11-13	Common Stock (1000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000	Indirect

Footnotes

F1: Butkin Investment Company, LLC (the "LLC") is owned by the reporting person, through his revocable trust, certain other trusts over which the reporting person holds voting and dispositive power, and BRJN Capital Corporation, of which the reporting person serves as its President. Voting and dispositive power over the securities held by the LLC is possessed by the reporting person, who is the Manager of the LLC. The reporting person disclaims beneficial ownership of the Issuer securities held by the LLC, except to the extent of his pecuniary interest therein.

F2: These shares are held in certain trusts over which the reporting person holds voting and dispositive power.

F3: Nonqualified Stock Option ("NQSO") granted by the Issuer to the reporting person under the Issuer's 2008 Incentive Stock Plan on November 13, 2008. 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 is fully vested.