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

Role
SVP, Chief Sales Officer
Signature
/s/ Shakeeb U. Mir, attorney-in-fact
Issuer symbol
FLS
Transactions as of
16 Feb 2023
Net transactions value
-$58,542
Form type
4/A - Amendment
Filing time
23 Feb 2023, 16:03:02 UTC
Date Of Original Report
21 Feb 2023
Previous filing
23 Feb 2023
Next filing
22 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FLS Common Stock Options Exercise $0 +1,092 +1.5% $0.000000 74,822 16 Feb 2023 Direct F1
transaction FLS Common Stock Tax liability $9,595 -266 -0.36% $36.07 74,556 16 Feb 2023 Direct
transaction FLS Common Stock Options Exercise $0 +2,787 +3.7% $0.000000 77,343 16 Feb 2023 Direct
transaction FLS Common Stock Tax liability $24,455 -678 -0.88% $36.07 76,665 16 Feb 2023 Direct
transaction FLS Common Stock Options Exercise $0 +2,787 +3.6% $0.000000 79,452 16 Feb 2023 Direct
transaction FLS Common Stock Tax liability $24,492 -679 -0.85% $36.07 78,773 16 Feb 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% $0.000000 18,814 16 Feb 2023 Common Stock 2,653 Direct F2, F3
transaction FLS Restricted Stock Units Options Exercise $0 -2,653 -14% $0.000000 16,161 16 Feb 2023 Common Stock 2,653 Direct F2, F3
transaction FLS Performance Rights Options Exercise $0 -6,310 -27% $0.000000 17,131 16 Feb 2023 Common Stock 6,310 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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.