FLOWSERVE CORP — Director's Dealing 2012

Mar 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2012-03-20

Reporting Person: Pajonas Thomas L (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-20	Common Stock ($1.25 par value per share)	F	5758	$115.19	Disposed	40400	Direct
2012-03-20	Common Stock ($1.25 par value per share)	M	16122	—	Acquired	56522	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-20	Performance Rights	$	M	7760	Disposed	2012-03-20	Common Stock (7760)	Direct

Footnotes

F1: Each performance right represented a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vested at a rate of 200% (plus dividends accrued on the underlying shares) 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, 2011 in comparison to the average RONA of a predetermined peer group over the same performance cycle.