SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HEGI FREDERICK B JR

(Last)

(First)

(Middle)

750 N. ST. PAUL

SUITE 1200

(Street)

DALLAS

75201

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LONE STAR TECHNOLOGIES INC [ LSS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/14/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/14/2007		D		25,000	D	$67.5	0⁽¹⁾	D
Restricted Stock	06/14/2007		D		1,600	D	$67.5	0⁽²⁾	D
Restricted Stock Units	06/14/2007		D		7,300	D	$67.5	0⁽³⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Unit	$0	06/14/2007		D			25,061.64	⁽⁴⁾	⁽⁴⁾	Common Stock	25,061.64	⁽⁴⁾	0	D
Stock Option	$20.67	06/14/2007		D			7,000	⁽⁵⁾	⁽⁵⁾	Common Stock	7,000	⁽⁵⁾	0	D
Stock Option	$22.5625	06/14/2007		D			12,500	⁽⁵⁾	⁽⁵⁾	Common Stock	12,500	⁽⁵⁾	0	D
Stock Option	$16.2812	06/14/2007		D			12,500	⁽⁵⁾	⁽⁵⁾	Common Stock	12,500	⁽⁵⁾	0	D
Stock Option	$50.0625	06/14/2007		D			12,500	⁽⁵⁾	⁽⁵⁾	Common Stock	12,500	⁽⁵⁾	0	D
Stock Option	$44.925	06/14/2007		D			12,500	⁽⁵⁾	⁽⁵⁾	Common Stock	12,500	⁽⁵⁾	0	D
Stock Option	$27.525	06/14/2007		D			12,500	⁽⁵⁾	⁽⁵⁾	Common Stock	12,500	⁽⁵⁾	0	D
Stock Option	$23.39	06/14/2007		D			12,500	⁽⁵⁾	⁽⁵⁾	Common Stock	12,500	⁽⁵⁾	0	D

Explanation of Responses:

1. Pursuant to the Agreement and Plan of Merger, dated March 28, 2007, by and among United States Steel Corporation, WP Acquisition Holding Corp. and Lone Star Technologies, Inc., at the effective time of the merger, each outstanding share of Lone Star common stock converted into the right to receive $67.50 in cash, without interest.

2. Pursuant to the Agreement and Plan of Merger, dated March 28, 2007, by and among United States Steel Corporation, WP Acquisition Holding Corp. and Lone Star Technologies, Inc., at the effective time of the merger, each restricted share of Lone Star common stock became fully vested and converted into the right to receive $67.50 in cash, without interest.

3. Pursuant to the Agreement and Plan of Merger, dated March 28, 2007, by and among United States Steel Corporation, WP Acquisition Holding Corp. and Lone Star Technologies, Inc., at the effective time of the merger, each restricted stock unit became fully vested and converted into the right to receive $67.50 in cash, without interest.

4. The Reporting Person was allocated 7,197.89 units in 1989; 1,461.87 units in 1998; 2,242.33 units in 1999; 937.05 units in 2000; 2,334.40 units in 2001; 2,789.14 units in 2002; 2,814.83 units in 2003; 2,296.91 units in 2004; 1,414.74 units in 2005; 1,262.01 units in 2006; and 310.46 units in 2007 through April 2, 2007 as a deferral of his director's fees. Pursuant to the Agreement and Plan of Merger, dated March 28, 2007, by and among United States Steel Corporation, WP Acquisition Holding Corp. and Lone Star Technologies, Inc., at the effective time of the merger, each outstanding share of phantom stock, whether vested or unvested, became fully vested and converted into the right to receive $67.50 in cash, without interest.

5. Pursuant to the Agreement and Plan of Merger, dated March 28, 2007, by and among United States Steel Corporation, WP Acquisition Holding Corp. and Lone Star Technologies, Inc., at the effective time of the merger, each outstanding option to purchase Lone Star common stock became fully vested and converted into the right to receive an amount in cash equal to the excess of $67.50 over the exercise price per share of common stock subject to such option.

	Frederick B. Hegi, Jr., by Robert F. Spears, Attorney-In-Fact	06/14/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.