Lamar L. Duhon - 15 Feb 2023 Form 4/A - Amendment Insider Report for FLOWSERVE CORP (FLS)

Role: President, AMSS
Signature: /s/ Shakeeb Mir, attorney-in-fact
Issuer symbol: FLS
Transactions as of: 15 Feb 2023
Net transactions value: -$29,951
Form type: 4/A - Amendment
Filing time: 23 Feb 2023, 16:07:06 UTC
Date Of Original Report: 17 Feb 2023
Previous filing: 17 Feb 2022
Next filing: 13 Feb 2024
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	+2,749		$0.000000	2,749	15 Feb 2023	Direct
transaction	FLS	Common Stock	Tax liability	$29,951	-815	-30%	$36.75	1,934	15 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	Award	$0	+11,534	+144%	$0.000000	19,559	17 Feb 2023	Common Stock	11,534		Direct	F1
transaction	FLS	Performance Rights	Award	$0	+11,534	+144%	$0.000000	19,559	17 Feb 2023	Common Stock	11,534		Direct	F2
transaction	FLS	Restricted Stock Units	Options Exercise	$0	-2,675	-14%	$0.000000	16,884	15 Feb 2023	Common Stock	2,675		Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	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.
F2	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, 2023 and ending on December 31, 2025 which are based equally on: 1) the issuer's return on invested capital ("ROIC") measured against the issuer's target ROIC for each calendar year during the performance period; and 2) the issuer's free cash flow ("FCF") as a percentage of adjusted net income for each calendar year during the performance period. The performance rights are also subject to 15% payout modifier (positive or negative) based on the issuer's relative total shareholder return ("TSR") in comparison to the TSR of companies that comprise the S&P 500 Industrial Index for the entire performance period. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.
F3	This Form 4 corrects an inadvertent error in the number of restricted stock units originally reported as disposed of by the officer.