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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Vi9HxhuqhU7pDejiD8ZHk1MKYW0wXkIHmn3svvcNoOpKnVox87cBROm0HHLYEvdX
 zFUqOsw5GFzyE7veubArDA==

<SEC-DOCUMENT>0001181431-04-002012.txt : 20040109
<SEC-HEADER>0001181431-04-002012.hdr.sgml : 20040109
<ACCEPTANCE-DATETIME>20040109105303
ACCESSION NUMBER:		0001181431-04-002012
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JONES JIMMIE D
		CENTRAL INDEX KEY:			0001258644

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07677
		FILM NUMBER:		04516889

	BUSINESS ADDRESS:	
		STREET 1:		16 SOUTH PENNSYLVANIA AVENUE
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73107
		BUSINESS PHONE:		4052354546

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
		STATE:			OK
		ZIP:			73101
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>rrd28284.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType><periodOfReport>2003-12-31</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000060714</issuerCik>
        <issuerName>LSB INDUSTRIES INC</issuerName>
        <issuerTradingSymbol>LXU</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001258644</rptOwnerCik>
            <rptOwnerName>JONES JIMMIE D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>16 SOUTH PENNSYLVANIA AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>OKLAHOMA CITY</rptOwnerCity>
            <rptOwnerState>OK</rptOwnerState>
            <rptOwnerZipCode>73107</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Sr VP/Controller/Treasurer</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-26</value></transactionDate><transactionCoding><transactionFormType>5</transactionFormType><transactionCode>G</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>3000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>65948</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipN
ature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeHolding><securityTitle><value>Incentive Stock Option</value></securityTitle><conversionOrExercisePrice><value>4.875</value></conversionOrExercisePrice><transactionCoding/><exerciseDate><value>2000-06-27</value></exerciseDate><expirationDate><value>2006-06-27</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>4000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Incentive Stock Option</value></securityTitle><conversionOrExercisePrice><value>4.125</value></conversionOrExercisePrice><transactionCoding/><exerc
iseDate><value>2000-11-19</value></exerciseDate><expirationDate><value>2006-11-19</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>60000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Incentive Stock Option</value></securityTitle><conversionOrExercisePrice><value>1.25</value></conversionOrExercisePrice><transactionCoding/><exerciseDate><value>2003-07-08</value></exerciseDate><expirationDate><value>2009-07-08</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>65000</value></underly
ingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Incentive Stock Option</value></securityTitle><conversionOrExercisePrice><value>2.73</value></conversionOrExercisePrice><transactionCoding/><exerciseDate><footnoteId id="F1"/></exerciseDate><expirationDate><value>2011-11-09</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>15000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrI
ndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Nonqualified Stock Option</value></securityTitle><conversionOrExercisePrice><value>1.25</value></conversionOrExercisePrice><transactionCoding/><exerciseDate><value>2003-07-08</value></exerciseDate><expirationDate><value>2009-07-08</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>35000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value><footnoteId id="F2"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding></derivativeTable><footnotes><footnote id="F1">LSB Industries, Inc. (the "Issuer") granted to Mr.  Jones a number of  Incentive Stock Options ("ISOs") under the Issuer's Incentive Stock Option Plans.  
Each  ISO is for a term of ten years from the date of grant and each ISO vests at the end of years one through four in the following amounts:  20%, 20%, 30% and 30%.  The ISOs are fully vested at the end of year four.  An ISO for 15,000 shares of Common Stock, exercisable at $2.73, was granted to Mr. Jones on November 9, 2001.  As of the date of this report, the total number of shares underlying the ISOs held by Mr. Jones was 144,000.</footnote><footnote id="F2">Nonqualified Stock Option ("NQSO") granted by the Issuer to Mr.  Jones under the Issuer's Non-Qualified Stock Option Agreement - 1999 (the "1999 Plan"), for the purchase of up to 35,000 shares of the Company's Common Stock at an option price of $1.25 per share. The NQSO vests at the end of years one through four in the following amounts: 20%, 20%, 30%, and 30%.  The NQSO is fully vested at the end of year four.  The NQSO is for a term of ten years from the date of grant.</footnote></footnotes><ownerSignature><signatureName>Jimmie D. Jones</signatureN
ame><signatureDate>2004-01-09</signatureDate></ownerSignature></ownershipDocument>



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