Elizabeth Burger - Feb 15, 2023 Form 4/A - Amendment Insider Report for FLOWSERVE CORP (FLS)

Role
Chief Human Resources Officer
Signature
/s/ Shakeeb U. Mir, attorney-in-fact
Stock symbol
FLS
Transactions as of
Feb 15, 2023
Transactions value $
-$55,970
Form type
4/A - Amendment
Date filed
2/23/2023, 04:07 PM
Date Of Original Report
Feb 17, 2023
Previous filing
Mar 1, 2022
Next filing
Feb 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FLS Common Stock Options Exercise $0 +3.67K +14.36% $0.00 29.2K Feb 15, 2023 Direct
transaction FLS Common Stock Tax liability -$56K -1.52K -5.22% $36.75 27.7K Feb 15, 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 +10.8K +32.76% $0.00 43.8K Feb 17, 2023 Common Stock 10.8K Direct F1
transaction FLS Performance Rights Award $0 +10.8K +38.8% $0.00 38.7K Feb 17, 2023 Common Stock 10.8K Direct F2
transaction FLS Restricted Stock Units Options Exercise $0 -3.57K -8.18% $0.00 40K Feb 15, 2023 Common Stock 3.57K 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 a 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.