Form 4 for FLS FLOWSERVE CORP
Accepted 2022-02-17 00:00:00 ET · period of report 2022-02-15 · accession 0000030625-22-000019 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2022-02-17 | 2022-02-15+ | FLS | Minnix Lanesha | SVP, CLO | F - Tax | $33.01 | -2,259 | 13.2K | -15% | -$74.6K |
| DM | 2022-02-17 | 2022-02-15+ | FLS | Minnix Lanesha | SVP, CLO | M - OptEx | $0.00 | +5,722 | 12.3K | +87% | $0 |
| DM | 2022-02-17 | 2022-02-15 | FLS | Minnix Lanesha | SVP, CLO | A - Grant | $0.00 | +24.5K | 35.5K | +221% | $0 |
| DM | 2022-02-17 | 2022-02-15+ | FLS | Minnix Lanesha | SVP, CLO | M - OptEx | $0.00 | -10.3K | 30.7K | -25% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2022-02-15 | F | D | 1,067 | $32.62 | 11,262 | D | — | — | |
| 2 | Common | Common Stock | 2022-02-16 | M | A | 3,166 | $0.00 | 14,428 | D | — | — | |
| 3 | Common | Common Stock | 2022-02-15 | M | A | 2,556 | — | 12,329 | D | — | — | (F1) Each 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 33.3% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2019 and ending on December 31, 2021, which are: 1) the issuer's relative total shareholder return ("TSR") in comparison to the TSR averages of a predetermined compensation peer group over the performance cycle; and 2) the issuer's return on invested capital ("ROIC") measured against the issuer's targeted ROIC improvement under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock. |
| 4 | Common | Common Stock | 2022-02-16 | F | D | 1,192 | $33.36 | 13,236 | D | — | — | |
| 5 | Derivative | Restricted Stock Units | 2022-02-15 | A | A | 12,228 | $0.00 | 33,772 | D | — · — to — | 12,228 Common Stock | (F2) Each restricted stock unit represents the right to receive, at settlement, one share of common stock (plus dividends accrued on the underlying shares) 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. |
| 6 | Derivative | Performance Rights | 2022-02-15 | M | D | 7,170 | $0.00 | 28,348 | D | — · — to — | 7,170 Common Stock | (F1) Each 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 33.3% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2019 and ending on December 31, 2021, which are: 1) the issuer's relative total shareholder return ("TSR") in comparison to the TSR averages of a predetermined compensation peer group over the performance cycle; and 2) the issuer's return on invested capital ("ROIC") measured against the issuer's targeted ROIC improvement under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock. |
| 7 | Derivative | Restricted Stock Units | 2022-02-16 | M | D | 3,096 | $0.00 | 30,676 | D | — · — to — | 3,096 Common Stock | (F2) Each restricted stock unit represents the right to receive, at settlement, one share of common stock (plus dividends accrued on the underlying shares) 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. |
| 8 | Derivative | Performance Rights | 2022-02-15 | A | A | 12,228 | $0.00 | 35,518 | D | — · — to — | 12,228 Common Stock | (F3) Each 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, 2022 and ending on December 31, 2024 which are: 1) the issuer's return on invested capital ("ROIC") measured against the issuer's target ROIC for each calendar year during the performance period; and 2) the issuer's free cash flow ("FCF") as a percentage of net income over the entire performance period. The performance rights are also subject to 15% payout modifier (positive or negative) based on the issuer's relative total shareholder return ("TSR") in comparison to the TSR of companies that comprise the S&P 500 Industrial Index for the entire performance period. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock. |