FLOWSERVE CORP — Director's Dealing 2017

May 8, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2017-05-04

Reporting Person: Rowe Robert Scott (President & CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-04	Restricted Stock Units	$	A	56310	Acquired		Common Stock (56310.0)	Direct
2017-05-04	Performance Rights	$	A	56310	Acquired		Common Stock (56310.0)	Direct
2017-05-04	Stock Option	$48.63	A	114943	Acquired	2027-05-04	Common Stock (114943.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	21720	Direct

Footnotes

F1: Each restricted stock unit represents the right to receive, at settlement, one share of common stock and are granted to the reporting person pursuant to the issuer's long-term incentive compensation plan for employees. The shares vest ratably on April 1, 2018, April 1, 2019 and April 1, 2020.

F2: 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% and are based on two factors during a three-year performance cycle beginning on January 1, 2017 and ending on December 31, 2019 which are: 1) the issuer's relative total share holder return ("TSR") in comparison to the TSR averages of a predetermined peer group over the performance cycle; and 2) the issuer's return on invested capital measured against the issuer's performance relative to its weighted average cost of capital and relative to a predetermined peer group over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.

F3: The options vest on April 1, 2020.