Edgar Filing: ALBANY INTERNATIONAL CORP /DE/

Ownership Submission

FORM 4

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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0287

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Gaug Joseph M

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)
Assistant Secretary

(Last)

(First)

(Middle)

C/O ALBANY INTERNATIONAL CORP., 216 AIRPORT DRIVE

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2017

(Street)

ROCHESTER, NH 03867

4. If Amendment, Date 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

(City)

(State)

(Zip)

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								1,116	I	by 401(k)
Class A Common Stock ⁽¹⁾	03/01/2017		M		429	A	$ 0 ⁽¹⁾	429 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		D		429	D	$ 47.44	0	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		M		331	A	$ 0 ⁽¹⁾	331 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		D		331	D	$ 47.44	0	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		M		241	A	$ 0 ⁽¹⁾	241 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		D		241	D	$ 47.44	0	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		M		301	A	$ 0 ⁽¹⁾	301 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		D		301	D	$ 47.44	0	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		M		358	A	$ 0 ⁽¹⁾	358 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	03/01/2017		D		358	D	$ 47.44	0	D ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Phantom Stock Units ⁽²⁾

⁽²⁾

03/01/2017

431

03/01/2013⁽²⁾⁽³⁾

⁽²⁾⁽³⁾

Class A Common Stock

431

$ 0 ⁽²⁾

Phantom Stock Units ⁽⁴⁾

⁽⁴⁾

03/01/2017

331

03/01/2014⁽⁴⁾⁽⁵⁾

⁽⁴⁾⁽⁵⁾

Class A Common Stock

662

$ 0 ⁽⁴⁾

331

Phantom Stock Units ⁽⁶⁾

⁽⁶⁾

03/01/2017

241

03/01/2015⁽⁶⁾⁽⁷⁾

⁽⁶⁾⁽⁷⁾

Class A Common Stock

724

$ 0 ⁽⁶⁾

483

Phantom Stock Units ⁽⁸⁾

⁽⁸⁾

03/01/2017

301

03/01/2016⁽⁸⁾⁽⁹⁾

⁽⁸⁾⁽⁹⁾

Class A Common Stock

1,200

$ 0 ⁽⁸⁾

899

Phantom Stock Units ⁽¹⁰⁾

⁽¹⁰⁾

03/01/2017

358

03/01/2017⁽¹⁰⁾⁽¹¹⁾

⁽¹⁰⁾⁽¹¹⁾

Class A Common Stock

1,792

$ 0 ⁽¹⁰⁾

1,434

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Gaug Joseph M C/O ALBANY INTERNATIONAL CORP. 216 AIRPORT DRIVE ROCHESTER, NH 03867			Assistant Secretary

Signatures

Kathleen M. Tyrrell, Attorney-in-Fact		03/02/2017
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Deemed acquisition and disposition to the issuer of shares of stock underlying Phantom Stock Units upon automatic vesting and cash settlement of such Units (see footnotes 2, 4, 6, 8 and 10). No shares were actually issued to the reporting person, nor did the reporting person dispose of any shares.
(2)	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.
(3)	429 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2013.
(4)	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.
(5)	331 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2014.
(6)	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.
(7)	241 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2015.
(8)	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.
(9)	301 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2016.
(10)	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.
(11)	358 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2017.

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