Kirk Wilson - Dec 31, 2021 Form 4 Insider Report for FLOWSERVE CORP (FLS)

Role: President, FCD
Signature: Shakeeb Mir, attorney-in-fact
Stock symbol: FLS
Transactions as of: Dec 31, 2021
Transactions value $: -$28,825
Form type: 4
Date filed: 1/4/2022, 03:36 PM
Next filing: Feb 17, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FLS	Common Stock	Options Exercise	$0	+471	+1.18%	$0.00	40.4K	Dec 31, 2021	Direct
transaction	FLS	Common Stock	Tax liability	-$14.4K	-471	-1.17%	$30.60	39.9K	Dec 31, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FLS	Restricted Stock Units	Options Exercise	-$14.4K	-471	-2.04%	$30.60	22.6K	Dec 31, 2021	Common Stock	471		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the applicable award agreements, restricted stock units granted to Mr. Wilson continue to vest over the original vesting period without regard to his continued service once he has attained a minimum age of 55 and has completed 10 years of continuous service with the Company. As a result of Mr. Wilson's having met these age and service requirements in December 2021, these restricted stock units were forfeited back to the Company to satisfy certain tax requirements attributable to outstanding awards as a result of this provision.
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.

Content

Pursuant to the applicable award agreements, restricted stock units granted to Mr. Wilson continue to vest over the original vesting period without regard to his continued service once he has attained a minimum age of 55 and has completed 10 years of continuous service with the Company. As a result of Mr. Wilson's having met these age and service requirements in December 2021, these restricted stock units were forfeited back to the Company to satisfy certain tax requirements attributable to outstanding awards as a result of this provision.

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.