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	OMB APPROVAL OMB Number: 3235-0287 Expires: December 31, 2014 Estimated average burden hours per response: 0.5
	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* LIPKE ERIC R (Last) (First) (Middle) (Street) (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol GIBRALTAR STEEL CORP [ Rock ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Vice President
	3. Date of Earliest Transaction (Month/Day/Year) 05/22/2003
	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)
			Code	V	Amount	(A) or (D)	Price
Common stock	05/22/2003		J(1)		300	D	20	891,702(3)(4)(5)(6)(7)	I	Trust(2)
Common stock	05/22/2003		J(1)		300	D	20	869,201(8)(9)(10)(11)	I	Trust(15)
Common stock	05/22/2003		J(1)		59.4	D	20	129,761.6	I	Rush Creek Investment Co. LP(12)

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
Option to buy	10	08/08/1988(16)		J		0		11/01/1995	10/31/2004	Common stock	0	$0	10,000(13)	D
Option to buy	21.75	08/08/1988(16)		J		0		07/08/1998	07/08/2007	common stock	0	$0	10,000(13)	D
Option to buy	22.5	08/08/1988(16)		J		0		03/27/1999	03/27/2008	Common stock	0	$0	2,500(14)	D
Option to buy	15.625	08/08/1988(16)		J		0		10/08/1999	10/08/2008	Common stock	0	$0	12,500(14)	D
Option to buy	14.07	08/08/1988(16)		J		0		07/18/2001	07/18/2010	Common stock	0	$0	10,000(14)	D

Explanation of Responses:

1. Sale of securities pursuant to a pre-arranged stock trading plan established pursuant to Rule 10b5-1.

2. Represents shares held by a trust for the benefit of reporting person, of which he serves as one of three trustees and shares voting and investment power.

3. 77,195 common shares held directly.

4. 7,005 shares held by trust for the benefit of a child (Katherine Victoria) of an insider of Gibraltar Steel Corporation, of which the reporting person serves as one of three trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership.

5. 6,700 shares held by trust for the benefit of reporting person's son.

6. 90,880 shares held by trust for the benefit of insiders of Gibraltar Steel Corporation, of which reporting person serves as one of five trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership.

7. 5,800 shares held by trust for the benefit of reporting person's daughter.

8. 1,680 shares held by reporting person as custodian for son under UGMANY.

9. 1,680 shares held by reporting person as custodian for daughter under UGMANY.

10. 5,940 shares held by trust for the benefit of a child (Elissa Kristina) of an insider of Gibraltar Steel Corporation, which the reporting person serves as one of three trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership.

11. 1,081.39 shares held by Gibraltar Steel Corporation 401(k) Plan f/b/o reporting person.

12. Represents reporting person's pecuniary interest in the shares of Gibraltar Steel Corporation common stock held by Rush Creek Investment Co., LP The reporting person disclaims beneficial interest in such shares, except to the extent of his beneficial interest.

13. Grant to reporting person of option to buy shares of common stock under the Gibraltar Steel Corporation Incentive Stock Option Plan. The options are exercisable at the rate of 25% per year.

14. Grant to reporting person of option to buy shares of common stock under the Gibraltar Steel Corporation Incentive Stock Option Plan. The options are exercisable at the rate of 25% per year.

15. Represents shares held by trust for the benefit of an insider of Gibraltar Steel Corporation, of which the reporting person serves as one of three trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership.

16. Dummy date used to report holdings only.

	/s/Eric R. Lipke	05/23/2003
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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