FLOWSERVE CORP - Director's Dealing 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2008-03-03

Reporting Person: BLINN MARK A (SVP & Chief Financial Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-03	Common Stock ($1.25 par value per share)	S	9000	$110.08	Disposed	89564	Direct
2008-03-03	Common Stock ($1.25 par value per share)	M	4667	$24.90	Acquired	94231	Direct
2008-03-03	Common Stock ($1.25 par value per share)	S	4667	$110.09	Disposed	89564	Direct
2008-03-03	Common Stock ($1.25 par value per share)	M	1620	$30.95	Acquired	91184	Direct
2008-03-03	Common Stock ($1.25 par value per share)	S	1620	$110.09	Disposed	89564	Direct
2008-03-04	Common Stock ($1.25 par value per share)	S	9000	$107.17	Disposed	80564	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-03	Stock Option (right-to-buy)	$24.90	M	4667	Disposed	2015-02-16	Common Stock (4667)	Direct
2008-03-03	Stock Option (right-to-buy)	$30.95	M	1620	Disposed	2015-07-13	Common Stock (1620)	Direct

F1: Shares were disposed of pursuant to a 10b5-1 plan previously entered into by the reporting person.

F2: Option shares are fully vested and exercisable.

F3: 1,620 option shares are fully vested and exercisable and the remaining 9,500 option shares will vest on July 14, 2008.