SEC Form 5 · accession 0001140361-15-003080
LSB INDUSTRIES, INC. · LXU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Golsen Family LLC
10% Owner
Period of report
Dec 31, 2014
Accepted (ET)
Jan 29, 2015 · 10:32 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000060714
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Nov 18, 2014 | G | 1,400 | $0.00 | D | 1,629,954 | I | By SBL |
| Common StockF1 | holding | — | — | — | 15,392 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series B PreferredF1,F3 | — | holding | — | — | — | — | — | Common Stock | 133,333 | 4,000 | D |
| Series B PreferredF2,F3 | — | holding | — | — | — | — | — | Common Stock | 533,333 | 16,000 | I |
| Series D PreferredF2,F4 | — | holding | — | — | — | — | — | Common Stock | 250,000 | 1,000,000 | I |
Explanation of responses
- F1Golsen 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%) and through another trust (43.516%), his sons, Barry Golsen, a director and the president of the Issuer (4.323%), and Steven Golsen, an executive officer of a subsidiary of the Issuer (4.323%), and his daughter, Linda Rappaport (4.323%).
- F2SBL, L.L.C. ("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 1,345,999 shares of common stock owned directly by SBL and 283,955 shares of common stock owned directly by GPC; 200,000 of these shares have been pledged as collateral. 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.
- F3Each 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.
- F4The 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.