FLOWSERVE CORP — Director's Dealing 2008

Aug 14, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2008-08-13

Reporting Person: Guiltinan Richard J JR (VP,Controller,Chief Acct Ofcr)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-13	Common Stock ($1.25 par value per share)	M	3346	$30.95	Acquired	27809	Direct
2008-08-13	Common Stock ($1.25 par value per share)	S	3346	$121.20	Disposed	24463	Direct
2008-08-13	Common Stock ($1.25 par value per share)	M	2987	$30.95	Acquired	27450	Direct
2008-08-13	Common Stock ($1.25 par value per share)	F	728	$127.00	Disposed	26722	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-08-13	Stock Option (right-to-buy)	$30.95	M	3346	Disposed	2015-07-13	Common Stock (3346)	Direct
2008-08-13	Stock Option (right-to-buy)	$30.95	M	2987	Disposed	2015-07-13	Common Stock (2987)	Direct

Footnotes

F1: The exercise of the stock options and sale of the shares of common stock were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person.