FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * GOLSEN BARRY H   2. Issuer Name and Ticker or Trading Symbol LSB INDUSTRIES INC [LXU] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President and COO (Last) (First) (Middle) 16 SOUTH PENNSYLVANIA AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 03/13/2007 (Street) OKLAHOMA CITY, OK 73107 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/13/2007   A(1)   195,855 A (1) 1,796,054 I By SBL (2) Common Stock               311,639 D   Common Stock               193,006 I By Trust (3) Common Stock               533 I By Spouse (4)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

$3.25 Preferred

$ 11.55

03/13/2007

D(1)

26,467

(1)

(1)

Common

(1)

(1)

23,083

I

By SBL (2)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GOLSEN BARRY H 16 SOUTH PENNSYLVANIA AVENUE OKLAHOMA CITY, OK 73107	X	X	President and COO

Signatures

Jack E. Golsen, Attorney-In-Fact		03/28/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reporting person, through SBL Corporation ("SBL"), disposed of 26,467 shares of $3.25 Class C Convertible Exchangeable Preferred Stock, Series 2 in exchange for 195,855 shares of common stock pursuant to the terms of an issuer tender offer. The reporting person is the vice-president of SBL and Golsen Petroleum Corporation ("GPC") and, together with Jack Golsen (a director and the chief executive officer of the issuer), has sole investment and dispositive power over the issuer's securities owned by SBL and GPC. The reporting person is also a director and president, and the exchange by the reporting person was preapproved by the issuer's board of directors.
(2)	SBL is wholly owned by Sylvia Golsen (mother of reporting person and 40% owner), Barry Golsen (20% owner), Steven Golsen (brother and 20% owner), and Linda Rappaport (sister and 20% owner). The number of shares includes shares owned of record by GPC, a wholly-owned subsidiary of SBL.
(3)	These shares are held of record by six trusts established for the benefit of the grandchildren of Jack E. Golsen and Sylvia H. Golsen. Barry H. Golsen is a co-trustee of these trusts.
(4)	These shares of common stock are owned of record by Barry H. Golsen's wife. Barry H. Golsen disclaims beneficial ownership of the shares owned by his wife.

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