SEC Form 4 · accession 0000030625-18-000032
FLOWSERVE CORP · FLS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Elizabeth Burger
Officer — Chief Human Resources Officer
Period of report
Apr 16, 2018
Accepted (ET)
Apr 18, 2018 · 4:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000030625
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Apr 16, 2018 | A | 2,000 | A | — | — | Common Stock | 2,000 | 2,000 | D |
| Restricted Stock UnitsF2 | — | Apr 16, 2018 | A | 8,400 | A | — | — | Common Stock | 8,400 | 10,400 | D |
| Performance RightsF3 | — | Apr 16, 2018 | A | 8,400 | A | — | — | Common Stock | 8,400 | 8,400 | D |
Explanation of responses
- F1Each 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 on April 16, 2019, April 16, 2020 and April 16, 2021.
- 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 on February 28, 2019, February 29, 2020 and February 28, 2021
- F3Each 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, 2018 and ending on December 31, 2020 which are: 1) the issuer's relative total share holder return ("TSR") in comparison to the TSR averages of a predetermined peer group over the performance cycle; and 2) the issuer's return on invested capital measured against the issuer's performance relative to its weighted average cost of capital and relative to a predetermined peer group over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.