FLOWSERVE CORP — Director's Dealing 2023

Feb 23, 2023

SEC Form 4/A — Form 4/A

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2023-02-16

Reporting Person: Schwetz Amy B (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-16	Common Stock	M	2819	—	Acquired	25994	Direct
2023-02-16	Common Stock	F	1031	$36.07	Disposed	24963	Direct
2023-02-16	Common Stock	M	6972	—	Acquired	31935	Direct
2023-02-16	Common Stock	F	2705	$36.07	Disposed	29230	Direct
2023-02-16	Common Stock	M	7203	—	Acquired	36433	Direct
2023-02-16	Common Stock	F	2795	$36.07	Disposed	33638	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-16	Restricted Stock Units	$	M	6637	Disposed		Common Stock (6637.0)	Direct
2023-02-16	Restricted Stock Units	$	M	6857	Disposed		Common Stock (6857.0)	Direct
2023-02-16	Performance Rights	$	M	16290	Disposed		Common Stock (16290.0)	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 16% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2020 and ending on December 31, 2022, which are: 1) the issuer's total shareholder return ("TSR") in comparison to the TSR percentile ranking for companies that comprise the compensation peer group over the performance cycle; and 2) the issuer's return on invested capital ("ROIC") measured against the issuer's targeted ROIC under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.

F2: Each restricted stock unit represents the right to receive, at settlement, one share of common stock (plus dividends accrued on the underlying shares) 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.

F3: This Form 4 corrects an inadvertent error in the number of restricted stock units originally reported as disposed of by the officer.