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FLOWSERVE CORP — Director's Dealing 2006
Mar 9, 2006
30825_dirs_2006-03-09_04f0cf85-ce60-49fc-b968-a1a24ad39f2e.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2006-03-07
Reporting Person: JOHNSTON MICHAEL F (Director)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2006-03-07 | Common Stock ($1.25 par value per share) | A | 277 | $54.5336 | Acquired | 22203 | Indirect |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock ($1.25 par value per share) | 984 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Stock option (right-to-buy) | $26.55 | 2007-05-06 | Common Stock (1219) | 1219 | Direct |
| Stock option (right-to-buy) | $13.13 | 2010-04-20 | Common Stock (2000) | 2000 | Direct |
| Stock option (right-to-buy) | $25.69 | 2011-04-19 | Common Stock (1500) | 1500 | Direct |
| Stock option (right-to-buy) | $32.12 | 2012-04-18 | Common Stock (1500) | 1500 | Direct |
| Stock option (right-to-buy) | $14.29 | 2013-04-21 | Common Stock (1500) | 1500 | Direct |
| Stock option (right-to-buy) | $26.01 | Common Stock (3484) | 3484 | Direct |
Footnotes
F1: Option shares are fully vested and exercisable.
F2: For purposes of Section 16(a), upon shareholder approval of the required stock compensation plan amendments, extension of the term of the option will results in a deemed cancellation of the old grant and the grant of a replacement option. However, for purposes of Section 409A of the Internal Revenue Code of 1986, such extension will not be deemed to involve a cancellation or new grant. The option was originally granted on July 26, 1996 and is fully vested and exercisable.
F3: As a result of certain tax considerations discussed in the Issuer's Form 8-K dated December 14, 2005, the option extensions as disclosed in the original Form 4 Report have been partially rescinded so that they continue only until the later of (i) 30 days after the options first becomes lawfully exercisable after the expiration of the securities trading limitations currently applicable to the Issuer's stock option programs or (ii) in the case of options which expire in 2006 under their terms in effect as originally granted, the later of December 31, 2006 or two and one-half months after the date of their respective original expiration dates.