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FLOWSERVE CORP — Director's Dealing 2024
May 29, 2024
30825_dirs_2024-05-29_1bf43c13-97a1-40ea-81b7-23ed8590af30.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2024-05-28
Reporting Person: Boukalik Brian (Chief Human Resources Officer)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-05-28 | Restricted Stock Units | $ | A | 2044 | Acquired | Common Stock (2044) | Direct | |
| 2024-05-28 | Restricted Stock Units | $ | A | 3781 | Acquired | Common Stock (3781) | Direct | |
| 2024-05-28 | Performance Rights | $ | A | 3781 | Acquired | Common Stock (3781) | 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 beginning on June 15, 2025.
F2: 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 beginning on March 1, 2025.
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, 2024 and ending on December 31, 2026 which are based equally on: 1) the issuer's ROIC for each calendar year in the performance period measured against the issuer's target ROIC for each calendar year in the performance period; and 2) the issuer's FCF as a percentage of adjusted net income for each calendar year in the performance period measured against the issuer's target FCF as a percentage of adjusted net income for each calendar year in the performance period. The performance rights are also subject to 15% payout modifier (positive or negative) based on the issuer's relative TSR in comparison to the TSR of companies that comprise the S&P 500 Industrials Index for the entire performance period.