Keith E. Gillespie - Feb 16, 2023 Form 4/A - restatement Insider Report for FLOWSERVE CORP (FLS)

Role
SVP, Chief Sales Officer
Signature
/s/ Shakeeb U. Mir, attorney-in-fact
Stock symbol
FLS
Transactions as of
Feb 16, 2023
Transactions value $
-$58,542
Form type
4/A - RESTATEMENT
Date filed
2/23/2023, 04:03 PM
Date Of Original Report
Feb 21, 2023
Previous filing
Feb 23, 2023
Next filing
Feb 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction FLS Common Stock +Options Exercise $0 +1,092 +1.48% $0.00 74,822 Feb 16, 2023 Direct F1
transaction FLS Common Stock -Tax liability -$9,595 -266 -0.36% $36.07 74,556 Feb 16, 2023 Direct
transaction FLS Common Stock +Options Exercise $0 +2,787 +3.74% $0.00 77,343 Feb 16, 2023 Direct
transaction FLS Common Stock -Tax liability -$24,455 -678 -0.88% $36.07 76,665 Feb 16, 2023 Direct
transaction FLS Common Stock +Options Exercise $0 +2,787 +3.64% $0.00 79,452 Feb 16, 2023 Direct
transaction FLS Common Stock -Tax liability -$24,492 -679 -0.85% $36.07 78,773 Feb 16, 2023 Direct

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 $0 -2,653 -12.36% $0.00 18,814 Feb 16, 2023 Common Stock 2,653 Direct F2, F3
transaction FLS Restricted Stock Units -Options Exercise $0 -2,653 -14.1% $0.00 16,161 Feb 16, 2023 Common Stock 2,653 Direct F2, F3
transaction FLS Performance Rights -Options Exercise $0 -6,310 -26.92% $0.00 17,131 Feb 16, 2023 Common Stock 6,310 Direct F1

Explanation of Responses:

Id Content
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.