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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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

MICHAELS DAVID C

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- Treasury & Tax

(Last)

(First)

(Middle)

C/O ALBANY INTERNATIONAL CORP., P.O. BOX 1907

3. Date of Earliest Transaction (Month/Day/Year)
11/30/2006

(Street)

ALBANY, NY 12201-1907

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								2,573	I	By ESOP
Class A Common Stock								1,000	D
Class A Common Stock ⁽¹⁾	11/30/2006		M		206	A	⁽¹⁾	206 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	11/30/2006		D		206	D	$ 32.52	0	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	11/30/2006		M		459	A	⁽¹⁾	459 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	11/30/2006		D		459	D	$ 32.52	0	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	11/30/2006		M		606	A	⁽¹⁾	606 ⁽¹⁾	D ⁽¹⁾
Class A Common Stock ⁽¹⁾	11/30/2006		D		606	D	$ 32.52	0	D ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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

Employee Stock Option ⁽²⁾

$ 20.45

⁽³⁾

11/30/2011

Class A Common

600

Employee Stock Option ⁽²⁾

$ 20.63

⁽³⁾

11/30/2011

Class A Common

900 ⁽⁴⁾

1,500

Restricted Stock Units ⁽⁵⁾

⁽⁵⁾

11/30/2006

206

⁽⁵⁾⁽⁶⁾

⁽⁵⁾

Class A Common Stock

412

⁽⁵⁾

0 ⁽⁷⁾

Restricted Stock Units ⁽⁵⁾

⁽⁵⁾

11/30/2006

459

⁽⁵⁾⁽⁸⁾

⁽⁵⁾

Class A Common Stock

918

⁽⁵⁾

0 ⁽⁹⁾

Restricted Stock Units ⁽⁵⁾

⁽⁵⁾

11/30/2006

606

⁽⁵⁾⁽¹⁰⁾

⁽⁵⁾

Class A Common Stock

1,212

⁽⁵⁾

0 ⁽¹¹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MICHAELS DAVID C C/O ALBANY INTERNATIONAL CORP. P.O. BOX 1907 ALBANY, NY 12201-1907			Vice President- Treasury & Tax

Signatures

Kathleen M. Tyrrell, Attorney-in-Fact		12/01/2006
^**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 Restricted Stock Units upon automatic vesting and cash settlement of such Units (see footnote 5). No shares were actually issued to the reporting person, nor did the reporting person dispose of any shares.
(2)	Options granted pursuant to Company's 1998 Stock Option Plan as incentive to remain in employ of Company.
(3)	Fully exercisable.
(4)	Reflects the termination of 300 options pursaunt to the 1998 Stock Option Plan upon the reporting person's November 30, 2006 departure from the Company.
(5)	Restricted Stock Units granted pursuant to the Albany International Corp. 2003 Restricted Stock Unit Plan (the "Restricted Stock Unit Plan"). Each Restricted Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting or, in the event that the holder elects to defer payment, at such later time elected in accordance with the Restricted Stock Unit Plan.
(6)	Pursuant to the Restricted Stock Unit Plan, 206 RSUs vested upon the reporting person's November 30, 2006 departure from the Company.
(7)	In addition to the vesting of 206 RSUs, reflects the forfeiture of 206 RSUs pursuant to the Restricted Stock Unit Plan, upon the reporting person's November 30, 2006 departure from the Company.
(8)	Pursuant to the Restricted Stock Unit Plan, 459 RSUs vested upon the reporting person's November 30, 2006 departure from the Company.
(9)	In addition to the vesting of 459 RSUs, reflects the forfeiture of 459 RSUs pursuant to the Restricted Stock Unit Plan, upon the reporting person's November 30, 2006 departure from the Company.
(10)	Pursuant to the Restricted Stock Unit Plan, 606 RSUs vested upon the reporting person's November 30, 2006 departure from the Company.
(11)	In addition to the vesting of 606 RSUs, reflects the forfeiture of 606 RSUs pursuant to the Restricted Stock Unit Plan, upon the reporting person's November 30, 2006 departure from the Company.

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