SEC Filing | Albany International Corp

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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 J SPENCER

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2003

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	05/12/2003		S⁽¹⁾		127,275	D	24.3	466,542	I	Held by the JSS Co. Charitable Remainder Unitrust.⁽²⁾

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⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common	151,318	$0⁽³⁾	151,318	I	Held by Standish Delta Trust⁽⁵⁾
Class B Common Stock	0⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common Stock	868,013	$0⁽³⁾	868,013	I	Held by J. S. Standish Co.⁽⁶⁾
Class B Common Stock	0⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common	1,345,565	$0⁽³⁾	1,345,565	I	Held by trust u/w Florence Standish⁽⁷⁾
Class B Common Stock	0⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common	108,729	$0⁽³⁾	108,729	I	Held by trust u/w J. C. Standish⁽⁸⁾
Employee Stock Option	15.5	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		05/04/1989⁽⁹⁾	05/01/2008	Class A Common	200,000	$0⁽¹⁰⁾	200,000	I	Held by Standish Delta Trust⁽⁵⁾
Employee Stock Option	15	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		02/09/1994⁽⁹⁾	05/01/2008	Class A Common	16,000	$0⁽¹¹⁾	16,000	D
Class B Common Stock	0⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common	120,000	$0⁽³⁾	120,000	I	Held by Christine L. Standish Delta Trust⁽¹²⁾
Class B Common Stock	0⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common	120,000	$0⁽³⁾	120,000	I	Held by John C. Standish Delta Trust⁽¹³⁾
Class B Common Stock	0⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common	10,700	$0⁽³⁾	10,700	I	Held by Christine L. Standish Gift Trust⁽¹⁴⁾
Class B Common Stock	0⁽³⁾	08/08/1988⁽⁴⁾		J⁽⁴⁾		0⁽⁴⁾		08/08/1988⁽³⁾	08/08/1988⁽³⁾	Class A Common	10,700	$0⁽³⁾	10,700	I	Held by John C. Standish Gift Trust⁽¹⁵⁾

Explanation of Responses:

1. Sale pursuant to a 10b5-1 plan adopted by the JSS Co. Charitable Remainder Unitrust.

2. Held by the JSS Co. Charitable Remainder Unitrust, the beneficiaries of which include the J. S. Standish Company. Undersigned disclaims investment control over, or beneficial ownership of, such shares.

3. Convertible, on a share-for-share basis, into Class A Common Stock.

4. No transaction to report.

5. Held by Standish Delta Trust. Undersigned has neither voting nor investment power and disclaims beneficial ownership.

6. Held by J. S. Standish Co. Undersigned is President and a director, and has the power to elect and remove all of the directors, of J. S. Standish Co.

7. Held by trust u/w Florence Standish. Undersigned has voting and investment power.

8. Held by trust u/w J. C. Standish. Undersigned has voting and investment power.

9. Fully exercisable.

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

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

12. Held by the Christine L. Standish Delta Trust. Undersigned has sole voting and investment power, and disclaims beneficial ownership, with respect to such shares.

13. Held by the John C. Standish Delta Trust. Undersigned has sole voting and investment power, and disclaims beneficial ownership, with respect to such shares.

14. Held by the Christine L. Standish Gift Trust. Undersigned has sole voting and investment power, and disclaims beneficial ownership, with respect to such shares.

15. Held by the John C. Standish Gift Trust. Undersigned has sole voting and investment power, and disclaims beneficial ownership, with respect to such shares.

	Kathleen M. Tyrrell, by Power of Attorney	05/13/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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The undersigned, as an officer and/or director of
Albany International Corp., a Delaware corporation
("the Company"), hereby authorizes THOMAS H. HAGOORT,
CHARLES J. SILVA, JR. AND KATHLEEN M. TYRRELL, and
each of them with full power to act without the
others, to sign and file, or cause to be filed, on
behalf of the undersigned, any forms and other
documents, including without limitation Forms 3 and 4
or any other forms hereafter substitute therefor,
required or permitted to be filed by the undersigned
pursuant to Section 16(a) of the Securities Exchange
Act of 1934, as amended, or rules or regulations
promulgated thereunder.

The authorization of a person named above shall
automatically terminate at such time as such person
ceases to be an employee of the Company.  The
undersigned may terminate the authorization of any
such person at any time by delivering written notice
of termination to the Company.



Date: November 22, 1997
/s/ J. Spencer Standish