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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)
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⁾	69,236	I	Held by the JSS Co. Charitable Remainder Unitrust.⁽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 Stock	151,318	$0⁽⁵⁾	151,318	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 Stock	868,013	$0⁽⁵⁾	868,013	I	Held by J. S. Standish Co.⁽⁶⁾
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 Stock	1,345,565	$0⁽⁵⁾	1,345,565	I	Held by trust u/w Florence Standish.⁽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 Stock	108,729	$0⁽⁵⁾	108,729	I	Held by trust u/w J. C. Standish.⁽⁸⁾
Employee Stock Option	15.5	07/21/2003		M⁽³⁾			59,407	05/04/1989⁽⁹⁾	05/01/2008	Class A Common Stock	59,407	$0⁽¹⁰⁾	38,024	I	Held by Standish Delta Trust.⁽¹¹⁾
Employee Stock Option	15	08/08/1988⁽¹⁾		J⁽¹⁾		0⁽¹⁾		02/09/1994⁽⁹⁾	05/01/2008	Class A Common Stock	16,000	$0⁽¹²⁾	16,000	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 Stock	120,000	$0⁽⁵⁾	120,000	I	Held by Christine L. Standish Delta Trust.⁽¹³⁾
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 Stock	120,000	$0⁽⁵⁾	120,000	I	Held by John C. Standish Delta Trust.⁽¹⁴⁾
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 Stock	10,700	$0⁽⁵⁾	10,700	I	Held by Christine L. Standish Gift Trust.⁽¹⁵⁾
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 Stock	10,700	$0⁽⁵⁾	10,700	I	Held by John C. Standish Gift Trust.⁽¹⁶⁾

Explanation of Responses:

1. No transaction to report.

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. 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. Undersigned has neither voting nor investment power and disclaims beneficial ownership.

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

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 Company's 1988 Stock Option Plan as incentive to remain in the employ of Company.

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

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

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

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

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

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

	J. Spencer Standish	07/23/2003
	** Signature of Reporting Person	Date
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