SEC Form 4 · accession 0000030625-15-000008

FLOWSERVE CORP · FLS

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — SVP and Chief Admin Ofcr

Period of report

Feb 4, 2015

Accepted (ET)

Feb 6, 2015 · 4:26 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000030625

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock ($1.25 par value per share)^F1	Feb 4, 2015	A	7,620	$0.00	A	22,733	D
Common Stock ($1.25 par value per share)	Feb 5, 2015	F	1,415	$58.08	D	21,318	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Rights^F2	—	Feb 4, 2015	A	7,620	A	—	Dec 31, 2017	Common Stock	7,620	33,660	D

F1Represents shares of restricted common stock 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.
F2Each 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 may be based on a number of factors during a three-year performance cycle beginning on January 1, 2015 and ending on December 31, 2017 including: 1) the issuer's average return on net assets ("RONA") in comparison to the RONA averages of a predetermined peer group over the performance cycle; 2) the issuer's growth in bookings in comparison to the growth in gross domestic product of countries that are members of the Organisation for Economic Co-operation and Development over the performance cycle; and 3) earnings per share growth over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.