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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1. Name and Address of Reporting Person * Matrange Joseph F   2. Issuer Name and Ticker or Trading Symbol QUAKER CHEMICAL CORP [KWR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP - Global Coatings (Last) (First) (Middle) AC PRODUCTS, INC., 13240 BARTON CIRCLE 3. Date of Earliest Transaction (Month/Day/Year) 05/09/2012 (Street) WHITTIER, CA 90605-3254 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) Code V Amount (A) or (D) Price Common Stock 05/09/2012   M   4,070 A $ 6.93 8,666 D   Common Stock 05/09/2012   F   1,887 D $ 45.13 6,779 D   Common Stock 05/09/2012   M   2,367 A $ 18.82 9,146 D   Common Stock 05/09/2012   F   1,493 D $ 45.13 7,653 D   Common Stock 05/09/2012   G V 3,057 D $ 0 4,596 D   Common Stock 05/09/2012   G V 3,057 A $ 0 13,525 (1) I By living trust Common Stock               723 (2) I By 401(k)

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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

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 6.93

05/09/2012

M

4,070

(3)

02/25/2016

Common Stock

4,070

$ 0

0

D

Employee Stock Option (right to buy)

$ 18.82

05/09/2012

M

2,367

(4)

01/26/2017

Common Stock

2,367

$ 0

4,735

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Matrange Joseph F AC PRODUCTS, INC. 13240 BARTON CIRCLE WHITTIER, CA 90605-3254			VP - Global Coatings

Signatures

Irene M. Kisleiko, Attorney-in-Fact for Joseph F. Matrange		05/11/2012
**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)	Includes 61 shares acquired through Company's Dividend Reinvestment Plan on April 30, 2012.
(2)	Information based on Company's Plan Statement for reporting person as of March 31, 2012.
(3)	The options under this grant vested in three annual installments: 3,071 shares on February 25, 2010; 3,070 shares on February 25, 2011; and 3,070 shares on February 25, 2012.
(4)	The options under this grant vest in three annual installments: 2,368 shares on January 26, 2011; 2,367 shares on January 26, 2012; and 2,367 shares on January 26, 2013.

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