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*
LIPKE ERIC R
(Last) (First) (Middle)
75 EIMVIEW AVENUE
(Street)
HAMBURG NY 14075
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
GIBRALTAR STEEL CORP [ ROCK ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
Officer (give title below) X Other (specify below)
Trustee
3. Date of Earliest Transaction (Month/Day/Year)
01/15/2004
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)
Code V Amount (A) or (D) Price
Common stock 01/15/2004 M 12,500 A $15.63 85,695 D
Common stock 01/15/2004 M 7,500 A $14.07 93,195 D
Common stock 01/15/2004 M 10,000 A $10 103,195(1)(2)(3)(4)(5) 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (right to buy)(6) $10 01/15/2004 M 10,000 11/01/1995 10/31/2004 Common stock 10,000 $10 0 D
Option (right to buy)(6) $21.75 08/08/1988(7) J 0 07/08/1998 07/08/2007 Common stock 0 $0 10,000 D
Option (right to buy)(8) $22.5 08/08/1988(7) J 0 03/27/1999 03/27/2008 Common stock 0 $0 2,500 D
Option (right to buy)(8) $15.625 01/15/2004 M 12,500 10/08/1999 10/08/2008 Common stock 12,500 $15.625 0 D
Option (right to buy)(8) $14.07 01/15/2004 M 7,500 07/18/2001 07/18/2010 Common stock 7,500 $14.07 2,500 D
Explanation of Responses:
1. 648,501 shares of common stock of Gibraltar Steel Corporation held by a trust for the benefit of reporting person of which trust he serves as one of three trustees and shares voting and investment power.
2. 671,002 shares of common stock of Gibraltar Steel Corporation held by a trust for the benefit of an insider, of which the reporting person serves as one of three trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership.
3. 7,005 shares indirectly held by trust for the benefit of a child (Katherine Victoria Lipke) of an insider of Gibraltar Steel Corporation, of which the reporting person serves as one of three trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership; 6,700 shares indirectly held by a trust for the benefit of the reporting person's son.
4. 90,880 shares indirectly held by trust for the benefit of insiders of Gibraltar Steel Corporation, of which the reporting person serves as one of five trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership; 5,800 shares indirectly held by a trust for the benefit of the reporting person's daughter; 1,680 shares indirectly held by reporting person as custodian for son under UGMANY; 1,680 shares indirectly held by reporting person as custodian for daughter under UGMANY; 5,940 shares indirectly held by trust for the benefit of a child (Elissa Kristina Lipke) of an insider of Gibraltar Steel Corporation, which the reporting person serves as one of three trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership.
5. Reporting person owns 125,651 shares indirectly representing the pecuniary interest of reporting person in shares of Gibraltar Steel Corporation common stock held by Rush Creek Investment Co., LP. The reporting person disclaims beneficial interest in such shares, except to the extent of his beneficial interest; 3,334.76 shares held in Gibraltar Steel 401(k) Savings Plan f/b/o reporting person.
6. Grant to reporting person of option to buy shares of common stock under Gibraltar Steel Corporation Non-Qualified Stock Option Plan. Options exercisable at rate of 25% per year.
7. Dummy Date used to report holdings only.
8. Grant to reporting person of option to buy shares of common stock under Gibraltar Steel Corporation Incentive Stock Option Plan. Options exercisable at rate of 25% per year.
/s/ Janet N. Gabel, Attorney in Fact for Eric R. Lipke 01/20/2004
** 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.