FLOWSERVE CORP — Director's Dealing 2020

Feb 24, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2020-02-20

Reporting Person: Burger Elizabeth (Chief Human Resources Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-20	Restricted Stock Units	$	A	7880	Acquired		Common Stock (7880.0)	Direct
2020-02-20	Performance Rights	$	A	7880	Acquired		Common Stock (7880.0)	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. The shares 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, 2020 and ending on December 31, 2022 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 ROIC improvement goals under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.