FLOWSERVE CORP — Director's Dealing 2020

Feb 24, 2020

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2020-02-24

Reporting Person: Schwetz Amy B (Chief Financial Officer)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (32060.0)		Direct
Performance Rights	$	2022-12-31	Common Stock (16290.0)		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. 15,770 of the restricted stock units were a one-time award granted in connection with Ms. Schwetz's appointment as the issuer's Senior Vice President and Chief Financial Officer and 16,290 were an annual award granted pursuant to the issuer's long-term incentive plan. The restricted stock units were granted on February 20, 2020 and 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 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.