SEC Form 4 · accession 0000030625-17-000071
FLOWSERVE CORP · FLS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kirk Wilson
Officer — President, AMSS
Period of report
Mar 28, 2017
Accepted (ET)
Mar 30, 2017 · 5:07 pm EDT
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 StockF1 | Mar 28, 2017 | M | 1,840 | — | A | 26,466 | D | |
| Common Stock | Mar 28, 2017 | F | 504 | $47.18 | D | 25,962 | 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 | — | Mar 28, 2017 | M | 1,620 | D | — | — | Common Stock | 1,620 | 15,330 | D |
Explanation of responses
- F1Each 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 109% (plus dividends accrued on the underlying shares) based on: 1) the issuer's average return on net assets ("RONA") and 2) the issuer's growth in bookings as compared to GDP growth of countries in the Organisation for Economic Co-operation and Development during a three-year performance cycle beginning on January 1, 2014 and ending on December 31, 2016.