FLOWSERVE CORP — Director's Dealing 2019

Dec 12, 2019

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2019-12-03

Reporting Person: Roueche John E III (Interim CFO)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15589	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (11344.0)		Direct
Performance Rights	$	2019-12-31	Common Stock (3220.0)		Direct
Performance Rights	$	2020-12-31	Common Stock (3910.0)		Direct
Performance Rights	$	2021-12-31	Common Stock (4010.0)		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. 1,072 of the restricted stock units were granted on February 1, 2017 and will vest on February 1, 2020. 832 of the restricted stock units were granted on June 17, 2017 and will vest on June 17, 2020. 2,606 of the restricted stock units were granted on February 28, 2018, and will vest ratably on February 28, 2020 and 2021. 2,824 of the restricted stock units were granted on July 23, 2018 and will vest on the second anniversary of the grant. 4,010 of the restricted stock units were granted on February 27, 2019, and will vest ratably over a three-year period on each annual anniversary of the grant.

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: 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, 2018 and ending on December 31, 2020 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.

F4: 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, 2019 and ending on December 31, 2021 which are: 1) the issuer's relative total shareholder return ("TSR") in comparison to the TSR averages of a predetermined compensation peer group over the performance cycle; and 2) the issuer's return on invested capital ("ROIC") measured against the issuer's targeted ROIC improvement under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.