Albany International (AIN) Form 4 ALBANY INTERNATIONAL / David M Pawlick ownership change

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^*

Pawlick David M

(Last) (First) (Middle)

C/O ALBANY INTERNATIONAL CORP.

216 AIRPORT DRIVE

(Street)

ROCHESTER NH 03867

(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	10% Owner
X	Officer (give title below)	Other (specify below)
Vice President- Controller

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2017

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock								998	I	By 401(k)
Class A Common Stock								2,314	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option(1)	$20.45							(2)	11/06/2021	Class A Common	1,000		1,000	D
Employee Stock Option(1)	$20.63							(2)	11/07/2022	Class A Common	1,000		1,000	D
Phantom Stock Units(3)	(3)							03/01/2013(3)(4)	(3)(4)	Class A Common Stock	473		473	D
Phantom Stock Units(5)	(5)							03/01/2014(5)(6)	(5)(6)	Class A Common Stock	732		732	D
Phantom Stock Units(7)	(7)							03/01/2015(7)(8)	(7)(8)	Class A Common Stock	869		869	D
Phantom Stock Units(9)	(9)							03/01/2016(9)(10)	(9)(10)	Class A Common Stock	1,410		1,410	D
Phantom Stock Units(11)	(11)	02/23/2017		A		2,108		03/01/2017(11)(12)	(11)(12)	Class A Common Stock	2,108	$0(11)	2,108	D

Explanation of Responses:

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

2. Fully exercisable.

3. Phantom Stock Units granted on February 14, 2013 pursuant to the Albany International Corp. 2011 Performance Phantom Stock Plan (the "Phantom Stock Plan"). Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

4. 475 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2013.

5. Phantom Stock Units granted on February 28, 2014 pursuant to the Phantom Stock Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

6. 366 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2014.

7. Phantom Stock Units granted on February 27, 2015 pursuant to the Phantom Stock Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

8. 289 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2015.

9. Phantom Stock Units granted on February 25, 2016 pursuant to the Phantom Stock Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

10. 352 Phantom Stock units will be settled and payable each year on or about March 1, beginning March 1, 2016.

11. Phantom Stock Units granted on February 23, 2017 pursuant to the Phantom Stock Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

12. 422 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2017.

Remarks:

	Kathleen M. Tyrrell, Attorney-in-Fact	02/27/2017
	** 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).
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