Brian Boukalik - 28 May 2024 Form 4 Insider Report for FLOWSERVE CORP (FLS)

Role
Chief Human Resources Officer
Signature
/s/ Shakeeb U. Mir, attorney in fact
Issuer symbol
FLS
Transactions as of
28 May 2024
Net transactions value
$0
Form type
4
Filing time
29 May 2024, 16:16:36 UTC
Previous filing
21 May 2024
Next filing
18 Feb 2025
SEC
View on sec.gov

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 +2,044 $0.000000 2,044 28 May 2024 Common Stock 2,044 Direct F1
transaction FLS Restricted Stock Units Award $0 +3,781 +185% $0.000000 5,825 28 May 2024 Common Stock 3,781 Direct F2
transaction FLS Performance Rights Award $0 +3,781 $0.000000 3,781 28 May 2024 Common Stock 3,781 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.