FLOWSERVE CORP — Director's Dealing 2014

May 28, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2014-05-22

Reporting Person: DELLY GAYLA J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-22	Phantom Stock	$	A	1692	Acquired		Common Stock (1692.0)	Direct

Footnotes

F1: Represents the annual restricted stock grant for the director under the Flowserve Equity and Incentive Compensation Plan. The shares vest on May 22, 2015.

F2: The shares of phantom stock become payable in the form of common stock upon the reporting person's termination of service as a member of the issuer's board of directors.