Todd Boehly (NYSE: LXU) trims LSB Industries stake but keeps 14.5%

Rhea-AI Filing Summary

LSB Industries, Inc. investor Todd L. Boehly has updated his ownership filing after a major share sale. Through TLB-LSB, LLC and another limited liability company he is deemed to control, he now beneficially owns 10,417,768 shares of LSB Industries common stock, representing about 14.5% of the outstanding shares based on the company’s latest Form 10-K.

On March 26, 2026, TLB-LSB, LLC sold 4,889,159 shares of common stock at $14.85 per share. Following this sale, TLB-LSB, LLC holds 10,374,334 shares, and a separate limited liability company over which Boehly may be deemed to have investment control holds 43,434 shares. The filing notes that both Boehly and TLB-LSB, LLC disclaim beneficial ownership beyond their pecuniary interest.

Insights

Equity ownership & governance analyst

Large shareholder trims position but remains a significant owner.

Todd L. Boehly, through TLB-LSB, LLC and another entity, reports beneficial ownership of 10,417,768 LSB Industries shares, or about 14.5% of the company’s common stock based on the latest Form 10-K.

On March 26, 2026, TLB-LSB, LLC sold 4,889,159 shares at $14.85 per share, a sizable secondary-market transaction. Even after this reduction, Boehly remains a major holder with sole voting and dispositive power over more than 10.3 million shares through TLB-LSB, LLC.

The filing characterizes part of the stake as held via entities over which Boehly “may be deemed” to have investment control, and expressly disclaims beneficial ownership beyond pecuniary interest. Future ownership updates would typically appear in subsequent beneficial ownership filings as additional transactions occur.

Key Figures

Beneficial ownership: 10,417,768 shares Ownership percentage: 14.5% TLB-LSB, LLC holdings: 10,374,334 shares +4 more

7 metrics

Beneficial ownership 10,417,768 shares Total shares beneficially owned by Todd L. Boehly across entities

Ownership percentage 14.5% Percent of LSB Industries common stock class represented by 10,417,768 shares

TLB-LSB, LLC holdings 10,374,334 shares Shares of LSB Industries common stock held by TLB-LSB, LLC after sale

Other LLC holdings 43,434 shares Shares held by a limited liability company over which Boehly may have investment control

Shares sold 4,889,159 shares Shares of LSB Industries common stock sold by TLB-LSB, LLC effective March 26, 2026

Sale price $14.85 per share Price per share for 4,889,159 shares of common stock sold by TLB-LSB, LLC

Shares outstanding 71,846,842 shares LSB Industries common shares outstanding as of February 20, 2026 per Form 10-K

Key Terms

beneficially owns, sole voting power, sole dispositive power, percent of class, +1 more

5 terms

beneficially owns financial

"TLB-LSB beneficially owns 10,374,334 shares of Common Stock"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: 7 | Sole Voting Power 10,417,768.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"9 | Sole Dispositive Power 10,417,768.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

percent of class financial

"13Percent of class represented by amount in Row (11) 14.5 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

Form 10-K financial

"as disclosed in the Issuer's Form 10-K filed on February 26, 2026 with the SEC"

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

LSB Industries, Inc.

(Name of Issuer)

Common Stock, par value $0.10 per share

(Title of Class of Securities)

502160104

(CUSIP Number)

Todd L. Boehly
701 Brickell Avenue, Suite 860
Miami, FL, 33131
1-800-224-6469

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

03/26/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 502160104

1

Name of reporting person

Todd L. Boehly

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 10,417,768.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 10,417,768.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

10,417,768.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.5 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Relating to Items 7, 9 and 11 of this page: Represents 10,374,334 shares of common stock, par value $0.10 per share (the "Common Stock"), of LSB Industries, Inc., a Delaware corporation (the "Issuer"), directly held by TLB-LSB, LLC, of which Todd L. Boehly is the sole member, and 43,434 shares of Common Stock directly held by a limited liability company over which Todd L. Boehly may be deemed to have investment control. Each of Todd L. Boehly and TLB-LSB, LLC disclaims beneficial ownership of the shares described above except to the extent of his or its pecuniary interest therein. Relating to Item 13 of this page: Calculated based on 71,846,842 shares of Common Stock of the Issuer outstanding as of February 20, 2026, as disclosed in the Issuer's Form 10-K filed on February 26, 2026 with the Securities and Exchange Commission (the "SEC").

SCHEDULE 13D

CUSIP Number(s): 502160104

1

Name of reporting person

TLB-LSB, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 10,374,334.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 10,374,334.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

10,374,334.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.4 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Relating to Item 13 of this page: Calculated based on 71,846,842 shares of Common Stock of the Issuer outstanding as of February 20, 2026, as disclosed in the Issuer's Form 10-K filed on February 26, 2026 with the SEC.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.10 per share
(b)	Name of Issuer: LSB Industries, Inc.
(c)	Address of Issuer's Principal Executive Offices: 3503 NW 63rd Street, Suite 500, Oklahoma City, OKLAHOMA , 73116.
Item 1 Comment: Explanatory Note: This statement on Schedule 13D represents Amendment No. 3 to the Schedule 13D (the "Original Schedule 13D") originally filed with the SEC on August 16, 2022 and amended by Amendment No. 1 to the Schedule 13D (the "Amendment No. 1"), filed with the SEC on November 10, 2022, and Amendment No. 2 to the Schedule 13D (the "Amendment No. 1"), filed with the SEC on November 14, 2023. Each of the Original Schedule 13D, Amendment No. 1, Amendment No. 2 and this Amendment No. 3 include a separate definition for the term "Reporting Person" or "Reporting Persons." For the avoidance of doubt, for each of these filings, the specific definition of "Reporting Person" or "Reporting Persons" in each particular filing should be applied to that filing in particular.
Item 2.	Identity and Background
(a)	This statement is being filed by Todd L. Boehly ("TLB") and TLB-LSB, LLC, a Delaware limited liability company ("TLB-LSB" and, together with TLB, the "Reporting Persons"). The Sole Member of TLB-LSB is TLB.
(b)	The address of the principal business and principal office of the Reporting Persons is 701 Brickell Avenue, Suite 860, Miami, Florida 33131.
(d)	During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, none of the Reporting Persons was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws.
(f)	TLB - United States of America TLB-LSB, LLC - Delaware, United States of America
Item 5.	Interest in Securities of the Issuer
(a)	Based upon the Issuer's Form 10-K filed on February 26, 2026 with the SEC, there were 71,846,842 shares of Common Stock outstanding as of February 20, 2026. TLB-LSB beneficially owns 10,374,334 shares of Common Stock and a limited liability company over which TLB may be deemed to have investment control owns 43,434 shares of Common Stock, which together represents approximately 14.5% of the outstanding Common Stock.
(b)	The information contained in Item 5(a) is hereby incorporated by reference.
(c)	Effective March 26, 2026, TLB-LSB sold 4,889,159 shares of Common Stock at a price of $14.85 per share of Common Stock, resulting in a total of 10,374,334 shares of Common Stock being held by TLB-LSB and 43,434 shares of Common Stock being held by a limited liability company over which TLB may be deemed to have investment control.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 Agreement regarding joint filing of Schedule 13D

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Todd L. Boehly

Signature:	/s/ Todd L. Boehly
Name/Title:	Todd L. Boehly
Date:	03/30/2026

TLB-LSB, LLC

Signature:	/s/ Todd L. Boehly
Name/Title:	Todd L. Boehly/Sole Member
Date:	03/30/2026

FAQ

What percentage of LSB Industries (LXU) does Todd Boehly currently beneficially own?

Todd Boehly reports beneficial ownership of about 14.5% of LSB Industries common stock. This percentage is based on 71,846,842 shares outstanding as of February 20, 2026, as disclosed in the company’s Form 10-K filed on February 26, 2026.

How many LSB Industries (LXU) shares did TLB-LSB, LLC sell in March 2026?

TLB-LSB, LLC sold 4,889,159 shares of LSB Industries common stock. The sale became effective on March 26, 2026, and the shares were sold at a price of $14.85 per share, as disclosed in the ownership filing.

How many LSB Industries (LXU) shares does TLB-LSB, LLC own after the sale?

After the March 26, 2026 transaction, TLB-LSB, LLC holds 10,374,334 shares of LSB Industries common stock. These shares are reported with sole voting and dispositive power in the amended beneficial ownership statement filed with the SEC.

What is Todd Boehly’s total LSB Industries (LXU) share count across entities?

The filing reports that Todd Boehly may be deemed to beneficially own 10,417,768 shares in total. This includes 10,374,334 shares held by TLB-LSB, LLC and 43,434 shares held by another limited liability company under his investment control.

How many LSB Industries (LXU) shares are outstanding according to the filing?

According to the ownership statement, LSB Industries had 71,846,842 shares of common stock outstanding as of February 20, 2026. This figure is taken from the company’s Form 10-K filed with the SEC on February 26, 2026.

Does Todd Boehly disclaim any beneficial ownership of LSB Industries (LXU) shares?

Yes. The filing states that Todd L. Boehly and TLB-LSB, LLC disclaim beneficial ownership of the reported shares except to the extent of their pecuniary interest. Some shares are held through entities over which he may be deemed to have investment control.