Form 4 for FLS FLOWSERVE CORP
Accepted 2024-02-13 00:00:00 ET · period of report 2024-02-09 · accession 0000030625-24-000014 · 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 | 2024-02-13 | 2024-02-09 | FLS | Burger Elizabeth | CHRO | F - Tax | $41.50 | -2,024 | 38.0K | -5% | -$84.0K |
| D | 2024-02-13 | 2024-02-09 | FLS | Burger Elizabeth | CHRO | M - OptEx | $0.00 | +4,888 | 40.0K | +14% | $0 |
| D | 2024-02-13 | 2024-02-09 | FLS | Burger Elizabeth | CHRO | M - OptEx | $0.00 | -9,290 | 21.5K | -30% | $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 | 2024-02-09 | F | D | 2,024 | $41.50 | 37,955 | D | — | — | |
| 2 | Common | Common Stock | 2024-02-09 | M | A | 4,888 | $0.00 | 39,979 | 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 49% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2021 and ending on December 31, 2023, which are: 1) the issuer's free cash flow ("FCF") as a percent of adjusted net income for the performance period in comparison to the issuer's targeted free cash flow as a percent of adjusted net income for the performance period, and 2) the issuer's return on invested capital ("ROIC") for each calendar year in the performance period measured against the issuer's targeted ROIC for each calendar year under its operating plan. The performance rights were also subject to a 15% payout modifier (positive or negative) based on the issuer's total shareholder return ("TSR") in comparison to the TSR of peer companies for the entire performance period. |
| 3 | Derivative | Performance Rights | 2024-02-09 | M | D | 9,290 | $0.00 | 21,513 | D | — · — to — | 9,290 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 49% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2021 and ending on December 31, 2023, which are: 1) the issuer's free cash flow ("FCF") as a percent of adjusted net income for the performance period in comparison to the issuer's targeted free cash flow as a percent of adjusted net income for the performance period, and 2) the issuer's return on invested capital ("ROIC") for each calendar year in the performance period measured against the issuer's targeted ROIC for each calendar year under its operating plan. The performance rights were also subject to a 15% payout modifier (positive or negative) based on the issuer's total shareholder return ("TSR") in comparison to the TSR of peer companies for the entire performance period. |