Brian Boukalik - May 28, 2024 Form 4 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
May 28, 2024
Transactions value $
$0
Form type
4
Date filed
5/29/2024, 04:16 PM
Previous filing
May 21, 2024

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 +2.04K $0.00 2.04K May 28, 2024 Common Stock 2.04K Direct F1
transaction FLS Restricted Stock Units Award $0 +3.78K +184.98% $0.00 5.83K May 28, 2024 Common Stock 3.78K Direct F2
transaction FLS Performance Rights Award $0 +3.78K $0.00 3.78K May 28, 2024 Common Stock 3.78K Direct 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 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 beginning on June 15, 2025.
F2 Each restricted stock unit represents the right to receive, at settlement, one share of common stock 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 beginning on March 1, 2025.
F3 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, 2024 and ending on December 31, 2026 which are based equally on: 1) the issuer's ROIC for each calendar year in the performance period measured against the issuer's target ROIC for each calendar year in the performance period; and 2) the issuer's FCF as a percentage of adjusted net income for each calendar year in the performance period measured against the issuer's target FCF as a percentage of adjusted net income for each calendar year in the performance period. The performance rights are also subject to 15% payout modifier (positive or negative) based on the issuer's relative TSR in comparison to the TSR of companies that comprise the S&P 500 Industrials Index for the entire performance period.