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FLOWSERVE CORP — Director's Dealing 2009
May 15, 2009
30825_dirs_2009-05-15_8f6ebc57-86e0-4cdf-898c-eb858f9a44fa.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2009-05-13
Reporting Person: KLING LEWIS M (Director, President and CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2009-05-13 | Common Stock ($1.25 par value per share) | G | 36969 | $0.00 | Acquired | 103987 | Indirect |
| 2009-05-13 | Common Stock ($1.25 par value per share) | G | 6000 | $0.00 | Acquired | 109987 | Indirect |
| 2009-05-13 | Common Stock ($1.25 par value per share) | G | 36969 | $0.00 | Disposed | 6000 | Direct |
| 2009-05-13 | Common Stock ($1.25 par value per share) | G | 6000 | $0.00 | Disposed | 0 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2009-05-13 | Performance Rights | $ | G | 31330 | Disposed | 2012-12-31 | Common Stock (31330) | Direct |
| 2009-05-13 | Performance Rights | $ | G | 31330 | Acquired | 2012-12-31 | Common Stock (31330) | Indirect |
Footnotes
F1: Represents shares of restricted common stock previously granted to the reporting person pursuant to the issuer's long-term incentive compensation plan for employees. The shares vest ratably over a three-year period on each annual anniversary of the February 13, 2009 original grant.
F2: Represents shares of restricted common stock previously granted to the reporting person pursuant to the issuer's long-term incentive compensation plan for employees. The shares vest fully on the first annual anniversary of the February 13, 2009 original grant.
F3: Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vest at a rate between 0% and 200% based on the issuer's average return on net assets ("RONA") during a three-year performance cycle beginning on January 1, 2009 and ending on December 31, 2012 in comparison to the average RONA of a predetermined peer group over the same performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.