FLOWSERVE CORP — Director's Dealing 2006

Feb 21, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2006-02-16

Reporting Person: Jojo Linda P (VP, Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-16	Common Stock ($1.25 par value per share)	F	294	$48.99	Disposed	20585	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock ($1.25 par value per share)	37	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right-to-buy)	$23.25	2014-07-12	Common Stock (5000)	5000	Direct
Stock option (right-to-buy)	$24.90	2015-02-16	Common Stock (4500)	4500	Direct
Stock option (right-to-buy)	$27.97	2015-04-20	Common Stock (7500)	7500	Direct
Stock option (right-to-buy)	$30.95	2015-07-13	Common Stock (12500)	12500	Direct

Footnotes

F1: The reporting person previously reported grants by issuer of restricted common stock on Table II. The reporting person will begin reporting these previous grants on Table I. Accordingly, this amount reflects the total shares of restricted common stock previously granted to the reporting person.

F2: The option shares vest in three (3) equal annual installments commencing on July 12, 2005, and then on July 12, 2006 and July 12, 2007, respectively.

F3: The option shares vest and become exercisable in three (3) equal annual installments commencing on February 16, 2006, February 16, 2007 and February 16, 2008.

F4: The option shares vest and become exercisable in three (3) equal annual installments commencing on April 20, 2006, April 20, 2007 and April 20, 2008, respectively.

F5: The option shares vest and become exercisable in three (3) equal annual installments commencing on July 14, 2006, July 14, 2007 and July 14, 2008, respectively.