_______ _________________________
FORM 5 U.S. Securities and Exchange Commission OMB APPROVAL
_______ Washington, D.C. 20549 _________________________
[ ] Check box if no longer subject OMB Number 3235-0287
to Section 16. Form 4 or Form Expires: September 30, 1998
5 obligations may continue Estimated average burden
See Instruction 1(b). hours per response... 0.5
__________________________
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting 2. Issuer Name and Ticker or
Person Trading Symbol
Rhodes, Horace G. LSB Industries, Inc. (LSBD)
_______________________________________________________________________________
(Last) (First) (Middle) 3. IRS or Social Security
No. of Reporting Person
(Voluntary)
201 Robert S. Kerr, Suite 200
____________________________________ ###-##-####
(Street)
Oklahoma City, Oklahoma 73102
______________________________________________________________________________
(City) (State) (Zip)
4. Statement for Month/Year: December 1999
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person to Issuer (Check all applicable)
X Director 10% Owner Officer (give title below)
___ ___ ___
___ Other (specify below)
____________________________________
7. Individual or Joint/Group Filing
(Check applicable line)
X Form filed by One Reporting Person
___
___Form filed by More than One Reporting Person
_______________________________________________________________________________
Table I - Non-Derivative Securities Acquired, Disposed Of, or
Beneficially Owned
_______________________________________________________________________________
1. Title of 2. Transaction 3. Transaction 4. Securities Acquired
Security Date Code (A) or Disposed of
(Instr. 3) Month/ (Instr. 8) (D) (Instr. 3, 4, 5)
Day/ ________________ ____________________
Year) Code Amount (A) Price
or
(D)
Common Stock
5. Amount of 6. Ownership Form: 7. Nature of
Securities Direct (D) or Indirect
Beneficially Indirect (I) Beneficial
Owned at End (Instr. 4) Ownership
of Issuer's (Instr. 4)
Fiscal Year
(Inst. 3 and 4)
5,000 D
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If the form is filed by more than one Reporting Person, see Instruction 4(b)(v).
Reminder: Report on a separate line for each Page 1 of 2
class of securities beneficially SEC 2270 (7/96)
owned directly or indirectly
(Print or Type Response)
<PAGE>
FORM 5 (continued) Table II - Derivative Securities Acquired,
Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
______________________________________________________________________________
1. Title of 2. Conversion 3. Transaction 4. Transaction 5. Number of
Derivative or Exercise Date Code Derivative
Security Price of (Month/Day/ (Instr. 8) Securities
(Instr. 3) Derivative Year) Acquired (A)
Security or Disposed
of (D)
(Instr. 3,4,5)
(A) (D)
Nonqualified $4.1875
Stock Option(1)
Nonqualified $1.25 07/08/99 A (1)
Stock Option(1)
6. Date Exercisable 7. Title and Amount of 8. Price of
and Expiration Underlying Securities Derivative
Date (Instr. 3 and 4) Security
(Month/Day/Year) Amount (Instr. 5)
Date Expir- or
Exer- ation Number of
cisable Date Title Shares
04/22/98 04/22/03 Common Stock 15,000
07/08/99 07/08/09 Common Stock 15,000
9. Number of 10. Ownership Form 11. Nature of Indirect
Derivative of Derivative Beneficial Owner-
Securities Security: ship (Instr. 4)
Beneficially Direct (D) or
Owned at End Indirect (I)
of Year (Instr. 4)
(Instr. 4)
(1) D
(1) D
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Explanation of Responses:
(1) Nonqualified Stock Option ("NQSO") to purchase shares of Issuer's
Common Stock granted pursuant to the Issuer's 1993 Non-Employee
Director Stock Option Plan (the "1993 Plan") and the Issuer's
Outside Directors Stock Option Purchase Plan (the "1999 Plan").
NQSOs granted under both the 1993 Plan and the 1999 Plan may be
exercised at any time after six months from the date the NQSO was
granted. To the extent not exercised, (a) the NQSO granted under
the 1993 Plan terminates upon the fifth anniversary of the date
the NQSO was granted or upon the cessation of the optionee as a
member of the Board of Directors of the Issuer, and (b) the NQSO
granted under the 1999 Plan terminates (i) upon the tenth
anniversary of the date the NQSO was granted, (ii) three years
after the cessation of the optionee as a member of the Board of
Directors of the Issuer, or (iii) upon the surrender of the Non-
Qualified Stock Option Agreement dated July 9, 1999, for
cancellation of the NQSO.
**Intentional misstatements
or omissions of facts
constitute Federal Criminal
Violations.
/s/ Horace G. Rhodes February 14, 2000
_____________________________ ________________
See 18 U.S.C. 1001 and **Signature of Reporting Person Date
15 U.S.C. 78ff(a). Horace G. Rhodes
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 2
K-M\LSB\FORMS345\12-99F5.HGR SEC 2270 (7/96)
