Robert Scott Rowe - Feb 28, 2022 Form 4 Insider Report for FLOWSERVE CORP (FLS)

Role: President & CEO, Director
Signature: /s/ Shakeeb U. Mir, attorney-in-fact
Stock symbol: FLS
Transactions as of: Feb 28, 2022
Transactions value $: -$279,677
Form type: 4
Date filed: 3/2/2022, 04:31 PM
Previous filing: Feb 22, 2022
Next filing: Jul 20, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FLS	Common Stock	Options Exercise	$0	+23.4K	+9.88%	$0.00	260K	Feb 28, 2022	Direct
transaction	FLS	Common Stock	Tax liability	-$280K	-9.21K	-3.54%	$30.37	251K	Feb 28, 2022	Direct
transaction	FLS	Common Stock	Options Exercise	$0	+1.45K	+0.58%	$0.00	252K	Feb 28, 2022	Direct	F1

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	-21.9K	-7.69%	$0.00	263K	Feb 28, 2022	Common Stock	21.9K		Direct	F2

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

Explanation of Responses:

Id	Content
F1	In connection with the vesting of certain Performance Rights on February 15, 2022, the issuer incorrectly calculated Mr. Rowe's tax withholding obligation and inadvertently withheld an additional 1,452 shares of Common Stock. On March 2, 2022, the issuer corrected this error by crediting Mr. Rowe's brokerage account with the 1,452 shares of common stock that were over-withheld.
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.