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SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

STANDISH JOHN C

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ALBANY INTERNATIONAL CORP /DE/ [ AIN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2003

4. If Amendment, Date of 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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾	A	0⁽¹⁾	806	I	By ESOP
Class A Common Stock	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾	A	0⁽¹⁾	11	I	Held by spouse.⁽²⁾
Class A Common Stock	07/21/2003		M⁽³⁾		59,407	A	15.5	59,407	I	Held by Standish Delta Trust.⁽⁴⁾
Class A Common Stock	07/21/2003		S⁽³⁾		59,407	D	26.8887	0	I	Held by Standish Delta Trust.⁽⁴⁾

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	0⁽⁵⁾	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		08/08/1988⁽⁵⁾	08/08/1988⁽⁵⁾	Class A Common	1,704	$0⁽⁵⁾	1,704⁽⁶⁾	D
Class B Common Stock	0⁽⁵⁾	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		08/08/1988⁽⁵⁾	08/08/1988⁽⁵⁾	Class A Common	120,000	$0⁽⁵⁾	120,000	I	Held by John C. Standish Delta Trust.⁽⁷⁾
Class B Common Stock	0⁽⁵⁾	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		08/08/1988⁽⁵⁾	08/08/1988⁽⁵⁾	Class A Common	10,700	$0⁽⁵⁾	10,700	I	Held by John C. Standish Gift Trust.⁽⁸⁾
Employee Stock Option	15.5	07/21/2003		M⁽³⁾			59,407	05/04/1989⁽⁹⁾	05/01/2008	Class A Common	59,407	$0	38,024	I	Held by Standish Delta Trust.⁽⁴⁾
Class B Common Stock	0⁽⁵⁾	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		08/08/1988⁽⁵⁾	08/08/1988⁽⁵⁾	Class A Common	151,318	$0⁽⁵⁾	151,318	I	Held by Standish Delta Trust.⁽⁴⁾
Employee Stock Option	15	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		02/09/1994⁽⁹⁾	05/01/2008	Class A Common	12,000	$0	12,000	D
Employee Stock Option⁽¹⁰⁾	22.25	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		05/18/1996⁽⁹⁾	05/18/2015	Class A Common	1,000	$0⁽¹⁰⁾	13,000	D
Employee Stock Option⁽¹⁰⁾	22.25	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		05/14/1997⁽⁹⁾	05/14/2016	Class A Common	1,000	$0⁽¹⁰⁾	14,000	D
Employee Stock Option⁽¹⁰⁾	19.75	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		04/15/1998⁽⁹⁾	04/15/2017	Class A Common	1,500	$0⁽¹⁰⁾	15,500	D
Employee Stock Option⁽¹¹⁾	19.375	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		11/04/1999⁽¹²⁾	11/04/2018	Class A Common	1,500	$0⁽¹¹⁾	17,000	D
Employee Stock Option⁽¹¹⁾	15.6875	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		11/09/2000⁽¹³⁾	11/09/2019	Class A Common	1,500	$0⁽¹¹⁾	18,500	D
Employee Stock Option⁽¹¹⁾	10.5625	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		11/15/2001⁽¹⁴⁾	11/15/2020	Class A Common	1,200	$0⁽¹¹⁾	19,700	D
Employee Stock Option⁽¹¹⁾	20.45	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		11/06/2002⁽¹⁵⁾	11/06/2021	Class A Common	2,000	$0⁽¹¹⁾	21,700	D
Employee Stock Option⁽¹¹⁾	20.63	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		11/07/2003⁽¹⁶⁾	11/07/2022	Class A Common	2,000	$0⁽¹¹⁾	23,700	D

Explanation of Responses:

1. No transaction to report.

2. Held by spouse. Mr. Standish disclaims beneficial ownership.

3. Transaction pursuant to a 10b5-1 plan adopted by the JSS Co. Charitable Remainder Unitrust and the Standish Delta Trust.

4. Held by Standish Delta Trust, a trust of which Mr. Standish is a beneficiary and as to which he shares voting and investment power.

5. Convertible on a share-for-share basis, into shares of the Company's Class A Common Stock.

6. Includes 1,000 shares held by Mr. Standish as custodian for his minor son.

7. Held by the John C. Standish Delta Trust, a trust for the beneficiaries of which include Mr. Standish's children. Mr. Standish disclaims investment control with respect to, and beneficial ownership of, these shares.

8. Held by the John C. Standish Gift Trust. Mr. Standish disclaims investment control with respect to, and beneficial ownership of, these shares.

9. Fully exercisable.

10. Option granted pursuant to Company's 1992 Stock Option Plan as incentive to remain in employ of Company.

11. Option granted pursuant to Company's 1998 Stock Option Plan as incentive to remain in employ of Company.

12. Become exercisable as to 300 shares on each November 4, beginning November 4, 1999.

13. Become exercisable as to 300 shares on each November 9, beginning November 9, 2000.

14. Become exercisable as to 240 shares on each November 15, beginning November 15, 2001.

15. Become exercisable as to 400 shares on each November 6, beginning November 6, 2002.

16. Become exercisable as to 400 shares on each November 7, beginning November 7, 2003.

	John C. Standish	07/22/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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