FLOWSERVE CORP — Director's Dealing 2006

Jul 19, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2006-07-17

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-07-17	Common Stock ($1.25 par value per share)	F	662	$53.00	Disposed	25354	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock ($1.25 par value per share)	119.48	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right-to-buy)	$22.90	2014-07-15	Common Stock (5500)	5500	Direct
Stock Option (right-to-buy)	$19.15	2013-07-17	Common Stock (7500)	7500	Direct
Stock Option (right-to-buy)	$24.84	2012-07-17	Common Stock (3000)	3000	Direct
Stock Option (right-to-buy)	$24.90	2015-02-16	Common Stock (5500)	5500	Direct
Stock Option (right-to-buy)	$30.95	2015-07-13	Common Stock (9000)	9000	Direct
Stock Option (right-to-buy)	$48.17	2016-02-15	Common Stock (10000)	10000	Direct

Footnotes

F1: 3,667 option shares are vested and exercisable and the remaining 1,833 option shares vest on July 15, 2007.

F2: The option shares are fully vested and exercisable.

F3: 1,834 option shares are vested and exercisable and the remaining 3,666 shares vest in two equal annual installments on February 16, 2007 and February 16, 2008.

F4: 3,000 option shares are vested and exercisable and the remaining 6,000 shares vest in two equal annual installments on July 14, 2007 and July 14, 2008.

F5: The option shares vest and become exercisable as follows: 3,334 shares on February 16, 2007; 3,333 shares on February 16, 2008 and 3,333 shares on February 16, 2009.