SEC Form 4 · accession 0000030625-18-000080
FLOWSERVE CORP · FLS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David J. Wilson
Officer — President, FPD
Period of report
Dec 18, 2018
Accepted (ET)
Dec 20, 2018 · 9:01 pm EST
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF1 | — | Dec 19, 2018 | A | 8,590 | A | — | — | Common Stock | 8,590 | 16,990 | 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 three factors measured over a two-year performance cycle beginning on January 1, 2019 and ending on December 31, 2020 which are: 1) the issuer's operating income growth over the performance cycle; 2) the Flowserve Pump Division's operating income growth over the performance cycle; and 3) the Flowserve Pump Division's revenue growth over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.