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: BLINN MARK A (VP and Chief Financial 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	808	$48.99	Acquired	58526	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock option (right-to-buy)	$24.9	2015-02-16	Common Stock (14000)	14000	Direct
Stock option (right-to-buy)	$27.97	2015-04-20	Common Stock (15000)	15000	Direct
Stock option (right-to-buy)	$30.95	2015-07-13	Common Stock (28500)	28500	Direct

Footnotes

F1: 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, respectively.

F2: 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.

F3: 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.