FLOWSERVE CORP — Director's Dealing 2020

Mar 27, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2020-03-25

Reporting Person: Gillespie Keith E. (SVP, Chief Sales Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-25	Common Stock	M	2667	—	Acquired	49293	Direct
2020-03-25	Common Stock	F	650	$23	Disposed	48643	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-25	Performance Rights	$	M	9810	Disposed		Common Stock (9810.0)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock ()	18850	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 25.8% 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.

F2: The number of performance rights held by Mr. Gillespie following the reported transaction has been adjusted to reflect the correct number of performance rights granted to Mr. Gillespie on February 27, 2019, which was previously overstated and corrected in an amended Form 4 filed with the Commission on March 20, 2020.

F3: The number of restricted stock units granted to Mr. Gillespie on February 27, 2019 was previously overstated and corrected in an amended Form 4 filed with the Commission on March 20, 2020. This holding is being included on this Form 4 solely for the purpose of reporting the correct number of restricted stock units held by Mr. Gillespie following that amendment.