FLOWSERVE CORP — Director's Dealing 2006

Nov 17, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2006-11-16

Reporting Person: JACKO JOHN H (VP and Chief Mktg. Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-16	Common Stock ($1.25 par value per share)	M	3667	$22.90	Acquired	29021	Direct
2006-11-16	Common Stock ($1.25 par value per share)	F	1556	$54.00	Disposed	27465	Direct
2006-11-17	Common Stock ($1.25 par value per share)	S	1504	$54.00	Disposed	25961	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-16	Stock Option (right-to-buy)	$22.90	M	3667	Disposed	2014-07-15	Common Stock (3667)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock ($1.25 par value per share)	119.85	Indirect

Footnotes

F1: The 3,667 options are fully vested and exercisable. The remaining 1,833 vest and become exercisable on July 15, 2007.