SEC Form 4 · accession 0001140361-15-016494
LSB INDUSTRIES, INC. · LXU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael G Adams
Officer — VP-Financial Planning
Period of report
Apr 23, 2015
Accepted (ET)
Apr 27, 2015 · 6:45 pm EDT
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 StockF3,F1 | Apr 23, 2015 | S | 1,981 | $45.00 | D | 17,444 | I | By Trust |
| Common StockF3,F4,F1 | Apr 24, 2015 | S | 700 | $45.13 | D | 16,744 | I | By Trust |
| Common StockF3,F5,F1 | Apr 27, 2015 | S | 2,319 | $46.73 | D | 14,425 | I | By Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Stock OptionF2 | $7.86 | holding | — | — | — | — | Nov 13, 2018 | Common Stock | 3,575 | 3,575 | D |
Explanation of responses
- F1These shares are held by the reporting person's revocable trust of which he is the settlor and trustee and possesses a pecuniary interest in the securities held by the trust.
- F2Incentive Stock Options ("ISO") granted by the Issuer to the reporting person under the Issuer's Incentive Stock Option Plans. An ISO for 15,000 shares of the Issuer's common stock exercisable at $7.86, with an expiration date of November 13, 2018, was granted to the reporting person on November 13, 2008. This ISO 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 ISO is fully vested. As of the date of this report, the total number of shares available for exercise under this ISO is 3,575.
- F3These shares were sold pursuant to the reporting person's Rule 10b5-1 Sales Plan adopted on May 20, 2014.
- F4On April 24, 2015, the reporting person sold a total of 700 shares of the Issuer's common stock at the weighted average price per share of $45.13, which is based on multiple prices ranging from $45.04 to $45.19 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
- F5On April 27, 2015, the reporting person sold a total of 2,319 shares of the Issuer's common stock at the weighted average price per share of $46.7258, which is based on multiple prices ranging from $46.60 to $47.13 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.