Edgar Filing: PHILIP ROBERT W

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 ^*

PHILIP ROBERT W

2. Issuer Name and Ticker or Trading Symbol
SCHNITZER STEEL INDUSTRIES INC [SCHN]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

(Last)

(First)

(Middle)

SCHNITZER INVESTMENT CORP., 1211 SW FIFTH AVENUE, SUITE 2250

3. Date of Earliest Transaction (Month/Day/Year)
04/26/2010

(Street)

PORTLAND, OR 97204

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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	04/26/2010		C		20,000	A	⁽¹⁾	20,000	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		700	D	$ 59	19,300	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		100	D	$ 59.03	19,200	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		400	D	$ 59.04	18,800	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		300	D	$ 59.05	18,500	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		100	D	$ 59.055	18,400	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		100	D	$ 59.06	18,300	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		200	D	$ 59.0625	18,100	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		100	D	$ 59.0675	18,000	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		300	D	$ 59.07	17,700	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		500	D	$ 59.08	17,200	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		100	D	$ 59.085	17,100	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		200	D	$ 59.09	16,900	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		600	D	$ 59.1	16,300	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		300	D	$ 59.105	16,000	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		600	D	$ 59.11	15,400	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		1,100	D	$ 59.12	14,300	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		200	D	$ 59.125	14,100	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		300	D	$ 59.13	13,800	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		300	D	$ 59.14	13,500	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		865	D	$ 59.16	12,635	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		700	D	$ 59.17	11,935	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		700	D	$ 59.19	11,235	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		202	D	$ 59.2	11,033	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		300	D	$ 59.205	10,733	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		100	D	$ 59.2175	10,633	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		200	D	$ 59.22	10,433	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		200	D	$ 59.225	10,233	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		1,200	D	$ 59.23	9,033	I	See note. ⁽²⁾
CLASS A COMMON STOCK	04/26/2010		S		400	D	$ 59.24	8,633	I	See note. ⁽²⁾

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

CLASS B COMMON STOCK

⁽¹⁾

04/26/2010

20,000

⁽¹⁾

CLASS A COMMON STOCK

20,000

⁽¹⁾

298,310

See note. ⁽²⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
PHILIP ROBERT W SCHNITZER INVESTMENT CORP. 1211 SW FIFTH AVENUE, SUITE 2250 PORTLAND, OR 97204		X
PHILIP RITA S SCHNITZER INVESTMENT CORP. 1211 SW FIFTH AVENUE, SUITE 2250 PORTLAND, OR 97204		X

Signatures

/s/ Robert W. Philip		04/30/2010
^**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)	The Class B Common Stock is convertible into Class A Common Stock at any time on a one-for-one basis, and has no expiration date. On April 26, 2010, a total of 20,000 shares of the Class B Common Stock held by Robert W. Philip and Rita S. Philip, Co-Trustees, under Trust Agreement dated April 21, 1993, were converted to 20,000 shares of Class A Common Stock.
(2)	Held by Robert W. Philip and Rita S. Philip, Co-Trustees, under Trust Agreement dated April 21, 1993. Rita S. Philip is the spouse of Robert W. Philip.
Remarks: This is the first (1st) of two (2) Form 4s filed on April 30, 2010, with respect to transactions effected April 26, 2010. Number of shares beneficially owned refers only to shares held by Robert W. Philip and Rita S. Philip, Co-Trustees, under Trust Agreement dated April 21, 1993.

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