SEC Form 4/A · accession 0000030625-17-000006
FLOWSERVE CORP · FLS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Carey OConnor
Officer — SVP, GC and Secretary
Period of report
Feb 3, 2016
Accepted (ET)
Jan 20, 2017 · 9:11 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) | Feb 4, 2016 | F | 684 | $40.31 | D | 45,411 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF1 | — | Feb 3, 2016 | A | 9,610 | A | — | — | Common Stock ($1.25 par value per share) | 9,610 | 25,760 | D |
| Restricted Stock UnitsF2,F3 | — | Feb 3, 2016 | A | 9,610 | A | — | — | Common Stock | 9,610 | 9,610 | D |
Explanation of responses
- F1Each 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, 2016 and ending on December 31, 2018 which are: 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; and 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. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.
- F2Each 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 on each annual anniversary of the grant
- F3The original Form 4 filed on February 5, 2016 is amended by this Form 4 amendment to correctly reflect the grant of restricted stock units as opposed to restricted stock.