0001140361-11-015515.txt : 20110309 0001140361-11-015515.hdr.sgml : 20110309 20110309194844 ACCESSION NUMBER: 0001140361-11-015515 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110307 FILED AS OF DATE: 20110309 DATE AS OF CHANGE: 20110309 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LSB INDUSTRIES INC CENTRAL INDEX KEY: 0000060714 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] IRS NUMBER: 731015226 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 16 S PENNSYLVANIA CITY: OKLAHOMA CITY STATE: OK ZIP: 73101 BUSINESS PHONE: 4052354546 MAIL ADDRESS: STREET 1: 16 SOUTH PENNSYLVANIA CITY: OKLAHOMA CITY STATE: OK ZIP: 73101 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SBL, LLC CENTRAL INDEX KEY: 0001005710 STATE OF INCORPORATION: OK FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-07677 FILM NUMBER: 11676462 BUSINESS ADDRESS: STREET 1: P O BOX 705 CITY: OKLAHOMA CITY STATE: OK ZIP: 73102 BUSINESS PHONE: 4052354546 MAIL ADDRESS: STREET 1: P O BOX 705 CITY: OKLAHOMA CITY STATE: OK ZIP: 73102 FORMER NAME: FORMER CONFORMED NAME: SBL CORP DATE OF NAME CHANGE: 19960110 4 1 doc1.xml FORM 4 X0303 4 2011-03-07 0 0000060714 LSB INDUSTRIES INC LXU 0001005710 SBL, LLC P O BOX 705 OKLAHOMA CITY OK 73102 0 0 1 0 Common Stock 1886054 D 5.5% Convertible Debentures 2011-03-07 4 S 0 2000000 2506600 D 2012-07-01 Common Stock 72800 2000000 D Series B Preferred Common Stock 533333 16000 D Series D Preferred Common Stock 250000 1000000 D SBL, LLC ("SBL") is owned by Golsen Family, L.L.C. ("GFLLC") (49%), Barry Golsen, a director and the president of the Issuer (17%), Steven Golsen, executive officer of a subsidiary of the Issuer (17%), and Jack E. Golsen's daughter, Linda F. Rappaport (17%). Golsen Petroleum Corporation ("GPC") is a wholly owned subsidiary of SBL. The amount shown in Table I includes 1,602,099 shares owned by SBL and 283,955 shares 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 possessed by Jack E. Golsen, who is the chief executive officer and chairman of the board of the Issuer, and Barry H. Golsen, a director and the president of the Issuer. GFLLC is owned by Jack E. Golsen, chief executive officer and chairman of the board of the Issuer, through his revocable trust (45.923%), his spouse, Sylvia Golsen through her revocable trust (45.923%), his sons, Barry Golsen (2.718%), and Steven Golsen (2.718%), and his daughter, Linda Rappaport (2.718%). The Issuer's 5.5% Convertible Senior Subordinated Debentures due 2012 (the "Debentures") are convertible at any time at the option of the holder in whole or in part into the Issuer's common stock prior to their maturity. The conversion rate of the Debentures is 36.4 shares of the Issuer's common stock per $1,000 principal amount of Debentures (representing a conversion price of $27.47 per share of common stock), subject to adjustment under certain conditions as set forth in the Indenture, dated June 28, 2007 (the "Indenture"), by the Issuer in favor of UMB Bank, N.A., as Trustee, filed as Exhibit 4.2 to the Issuer's Form 8-K on June 29, 2007. The Debentures bear interest at the rate of 5.5% per year and mature on July 1, 2012. 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. In addition to the aggregate amount shown, SBL received $21,083.33 for 69 days of accrued interest for the $2,000,000 in Debentures sold. Jack E Golsen, Manager 2011-03-09