FLOWSERVE CORP — Director's Dealing 2004

Jun 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2004-06-01

Reporting Person: FERGUSON THOMAS E (VP & Pres. of Pump Div.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-01	Common Stock ($1.25 par value per share)	A	1500	—	Acquired	2250	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock ($1.25 par value per share)	7417	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Retricted Stock Units	$19.15	2013-07-17	Common Stock (15000)	15000	Direct
Stock option (right-to-buy)	$19.15	2013-07-17	Common Stock (15000)	15000	Direct
Stock option (right-to-buy)	$24.84	2012-07-17	Common Stock (3200)	3200	Direct
Stock option (right-to-buy)	$27.12	2011-07-18	Common Stock (4000)	4000	Direct
Stock option (right-to-buy)	$17.81	2010-08-22	Common Stock (3000)	3000	Direct
Stock option (right-to-buy)	$17.00	2009-08-03	Common Stock (1752)	1752	Direct
Stock option (right-to-buy)	$17.00	2009-08-03	Common Stock (1415)	1415	Direct
Stock option (right-to-buy)	$30.00	2007-10-23	Common Stock (3900)	3900	Direct

Footnotes

F1: Reporting Person purchased 1,400 shares at $20.99 and the remaining 100 shares at $21.01.

F2: One-half vests on July 17, 2008 and the remaining one-half vests on July 17, 2013.

F3: Option shares shall vest proportionately when reporting person purchases additional issuer shares in the open market or within the issuer's 401(k) plan.

F4: 1,066 option shares will vest on July 17, 2004 and the remaining shares vest on July 17, 2005.

F5: 1,333 option shartes vest on July 18, 2004, the remaining option shares vest in accordance with FN2 above.

F6: Option shares are fully vested and exercisable.

F7: Option shares are fully vested and exercisable.

F8: Option shares are fully vested and exercisable.

F9: Option shares are fully vested and exercisable.