Form 4 for FLS FLOWSERVE CORP
Accepted 2023-02-17 00:00:00 ET · period of report 2023-02-15 · accession 0000030625-23-000014 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-02-17 | 2023-02-15 | FLS | Rowe Robert Scott | Pres, CEO, Dir | F - Tax | $36.75 | -11.8K | 270.8K | -4% | -$432.3K |
| D | 2023-02-17 | 2023-02-15 | FLS | Rowe Robert Scott | Pres, CEO, Dir | M - OptEx | $0.00 | +30.1K | 282.6K | +12% | $0 |
| DM | 2023-02-17 | 2023-02-17 | FLS | Rowe Robert Scott | Pres, CEO, Dir | A - Grant | $0.00 | +168.7K | 345.8K | +95% | $0 |
| D | 2023-02-17 | 2023-02-15 | FLS | Rowe Robert Scott | Pres, CEO, Dir | M - OptEx | $0.00 | -29.5K | 316.3K | -9% | $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 | 2023-02-15 | F | D | 11,764 | $36.75 | 270,820 | D | — | — | |
| 2 | Common | Common Stock | 2023-02-15 | M | A | 30,106 | $0.00 | 282,584 | D | — | — | |
| 3 | Derivative | Performance Rights | 2023-02-17 | A | A | 85,784 | $0.00 | 307,127 | D | — · — to — | 85,784 Common Stock | (F2) 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, 2023 and ending on December 31, 2025 which are based equally on: 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 adjusted net income for each calendar year during the performance period. The performance rights are also subject to a 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. |
| 4 | Derivative | Restricted Stock Units | 2023-02-15 | M | D | 29,465 | $0.00 | 316,335 | D | — · — to — | 29,465 Common Stock | (F1) 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. |
| 5 | Derivative | Restricted Stock Units | 2023-02-17 | A | A | 82,900 | $0.00 | 345,800 | D | — · — to — | 82,900 Common Stock | (F1) 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. |