X0304 4 2011-09-08 0 0000060714 LSB INDUSTRIES INC LXU 0001005714 GOLSEN BARRY H P O BOX 705 OKLAHOMA CITY OK 73102 1 1 1 0 President and COO Common Stock 292467 D Common Stock 533 I By Spouse Common Stock 2011-09-08 5 G 0 58 0 D 42159 I By GFLLC Common Stock 333005 I By SBL Series B Preferred Common Stock 17061 512 I By GFLLC Series B Preferred Common Stock 90666 2720 I By SBL Series D Preferred Common Stock 5296 21183 I By GFLLC Series D Preferred Common Stock 42500 170000 I By SBL These shares of common stock are owned of record by the reporting person's spouse. The reporting person disclaims beneficial ownership of the shares owned by his spouse. Golsen Family, L.L.C. ("GFLLC") is owned by Jack E. Golsen, chief executive officer and chairman of the board of the Issuer, through his revocable trust (43.516%), his spouse, Sylvia Golsen through her revocable trust (43.516%), his sons, Barry H. Golsen, a director and the president of the Issuer (4.323%), and Steven J. Golsen, executive officer of a subsidiary of the Issuer (4.323%), and his daughter, Linda F. Rappaport (4.323%). The Issuer securities reported as beneficially owned by GFLLC includes the shares beneficially owned by GFLLC through SBL (see footnote 3). The reporting person disclaims beneficial ownership of the Issuer securities held by GFLLC, except to the extent of his pecuniary interest therein. SBL, LLC ("SBL") is owned by GFLLC (49%), Barry Golsen (17%), Steven Golsen (17%), and Linda Rappaport (17%). Golsen Petroleum Corporation ("GPC") is a wholly owned subsidiary of SBL. The amount shown in Table I includes 1,674,899 shares of common stock owned by SBL and 283,955 shares of common stock owned directly by GPC, and the amount shown in Table II includes 12,000 shares of the Issuer's Series B Preferred owned by SBL and 4,000 shares of the Issuer's Series B Preferred owned directly by GPC. Voting and dispositive power over the securities held by SBL and GPC is shared by Jack E. Golsen, who is the chief executive officer and chairman of the board of the Issuer, and Barry Golsen, a director and the president of the Issuer. Although Barry Golsen shares voting and dispositive power over the securities held by SBL and GPC, only his pecuniary interest in such securities is reported herein. The amount of Issuer securities shown as beneficially owned by the reporting person is based on the reporting person's proportionate ownership in (1) GFLLC, which is comprised of (a) GFLLC's direct ownership of Issuer securities and (b) GFLLC's indirect ownership of Issuer securities through its proportionate ownership in SBL, and (2) SBL, which is comprised of (a) SBL's direct ownership of Issuer securities and (b) SBL's indirect ownership of Issuer securities through GPC. The reporting person disclaims beneficial ownership of the Issuer securities held by GFLLC, except to the extent of his pecuniary intent therein. Each share of the Issuer's Series "B" 12% Cumulative Preferred Stock is convertible, at the option of the holder into 33.3333 shares of the Issuer's common stock. Each share is convertible as long as such is outstanding. The Issuer's Series "D" 6% Cumulative, Convertible Class C Preferred Stock is convertible at the option of the holder into the Issuer's common stock at the rate of four shares of Preferred "D" for one share of common stock. Each share is convertible as long as such is outstanding. On September 30, 2011, GFLLC distributed a total of 337,234 shares of the Issuer's common stock on a pro-rata basis, for no consideration, to its members. The reporting person received 14,578 shares of the Issuer's common stock as his pro-rata portion of the 337,234 shares distributed. The reporting person previously reported such 14,578 shares of common stock as beneficially owned through GFLLC and the receipt of the 14,578 shares of common stock upon the distribution is an exempt acquisition pursuant to Rule 16a-13. Jack E Golsen, Attorney-in-Fact 2011-10-04