FLOWSERVE CORP — Director's Dealing 2006

Feb 18, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2006-02-15

Reporting Person: JACKO JOHN H (VP-Strategy, Mkt. & Comm.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-15	Common Stock ($1.25 par value per share)	A	6000	$48.17	Acquired	26707	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-15	Stock Option (right-to-buy)	$48.17	A	10000	Acquired	2016-02-15	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock ($1.25 par value per share)	73	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

Footnotes

F1: The reporting person previously reported grants by issuer of restricted common stock on Table II. An aggregate of 12,000 shares of these grants reported on Table II remain unvested. New grant represents 6,000 shares of restricted common stock issued under the Flowserve Corporation 2004 Stock Compensation Plan. One-third of the shares of restricted common stock vest February 16, 2007 and the remaining thirds vest February 16, 2008 and February 16, 2009, respectively.

F2: The option shares vest in three (3) equal annual installments beginning on July 15, 2005, with the remaining thirds vesting on July 15, 2006 and July 15, 2007, respectively.

F3: 3,589 option shares are vested and fully exercisable; another 1,411 option shares vest on July 17, 2005 and the remaining 2,500 option shares vest on July 17, 2006.

F4: 2,000 option shares are fully vested and exercisable, the remaining 1,000 option shares vest on July 17, 2005.

F5: 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.

F6: 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.

F7: The option shares vest and become exercisable in three (3) equal annual installments commencing on February 16, 2007, February 16, 2008 and February 16, 2009, respectively.