Robert Scott Rowe - Feb 16, 2023 Form 4/A - Amendment 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 16, 2023
Transactions value $
-$1,039,068
Form type
4/A - Amendment
Date filed
2/23/2023, 04:05 PM
Date Of Original Report
Feb 21, 2023
Previous filing
Feb 23, 2023
Next filing
Feb 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FLS Common Stock Options Exercise $0 +10.5K +3.86% $0.00 281K Feb 16, 2023 Direct F1
transaction FLS Common Stock Tax liability -$148K -4.12K -1.46% $36.07 277K Feb 16, 2023 Direct
transaction FLS Common Stock Options Exercise $0 +37.2K +13.42% $0.00 314K Feb 16, 2023 Direct
transaction FLS Common Stock Tax liability -$528K -14.6K -4.65% $36.07 300K Feb 16, 2023 Direct
transaction FLS Common Stock Options Exercise $0 +25.6K +8.53% $0.00 325K Feb 16, 2023 Direct
transaction FLS Common Stock Tax liability -$363K -10.1K -3.09% $36.07 315K Feb 16, 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 Options Exercise $0 -35.4K -11.19% $0.00 281K Feb 16, 2023 Common Stock 35.4K Direct F2, F3
transaction FLS Restricted Stock Units Options Exercise $0 -24.3K -8.66% $0.00 257K Feb 16, 2023 Common Stock 24.3K Direct F2, F3
transaction FLS Performance Rights Options Exercise $0 -60.5K -19.68% $0.00 247K Feb 16, 2023 Common Stock 60.5K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance right represented a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vested at a rate of 16% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2020 and ending on December 31, 2022, which are: 1) the issuer's total shareholder return ("TSR") in comparison to the TSR percentile ranking for companies that comprise the compensation peer group over the performance cycle; and 2) the issuer's return on invested capital ("ROIC") measured against the issuer's targeted ROIC under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.
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.
F3 This Form 4 corrects an inadvertent error in the number of restricted stock units originally reported as disposed of by the officer.