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 Transportation
	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)
			Code	V	Amount	(A) or (D)	Price
Common stock	07/21/2003(1)		J(1)		2.43	A	18.76(1)	1,083.82(2)(3)(4)	I	Gibraltar Steel Corporation 401(k) Plan

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 (right to buy)(5)	10	08/08/1988(7)		J		0		11/01/1995	10/31/2004	Common stock	0	$0	10,000	D
Option (right to buy)(5)	21.75	08/08/1988(7)		J		0		07/08/1998	07/08/2007	Common stock	0	$0	10,000	D
Option (right to buy)(6)	22.5	08/08/1988(7)		J		0		03/27/1999	03/27/2008	Common stock	0	$0	2,500	D
Option (right to buy)(6)	15.625	08/08/1988(7)		J		0		10/08/1999	10/08/2008	Common stock	0	$0	12,500	D
Option (right to buy)(6)	14.07	08/08/1988(7)		J		0		07/18/2001	07/18/2010	Common stock	0	$0	10,000	D

Explanation of Responses:

1. Represents the net effect of shares purchased and sold from April 1, 2003 through June 30, 2003 pursuant to the Gibraltar Steel Corporation 401(k) Savings Plan at an average price of $18.76 per share. The information reported herein is based on a Plan Statement dated July 17, 2002.

2. Reporting person owns 77,195 shares of common stock directly; 869,501 shares indirectly 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; 892,002 shares indirectly held by a 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; 7,005 shares indirectly held by trust for the benefit of a child (Katherine Victoria Lipke) 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; 6,700 shares indirectly held by a trust for the benefit of the reporting person's son.

3. 90,880 shares indirectly held by trust for the benefit of insiders of Gibraltar Steel Corporation, of which the reporting person serves as one of five trustees and shares voting and investment power and as to which shares he disclaims beneficial ownership; 5,800 shares indirectly held by a trust for the benefit of the reporting person's daughter; 1,680 shares indirectly held by reporting person as custodian for son under UGMANY; 1,680 shares indirectly held by reporting person as custodian for daughter under UGMANY; 5,940 shares indirectly held by trust for the benefit of a child (Elissa Kristina Lipke) 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.

4. 129,821 shares indirectly representing the reporting person's pecuniary interst in the shares of Gibraltar Steel Corporation common stock held by Rush Creek Investment Co. L.P. The reporting person disclaims beneficial interest in such shares, except to the extent of his beneficial interest.

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

6. 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.

7. Dummy date used for reporting holdings.

	/s/Eric R. Lipke	07/21/2003
	** 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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