SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Freeman Dean P

(Last) (First) (Middle)
5215 N. O'CONNOR BLVD
SUITE 2300

(Street)
IRVING TX 75039

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
10/20/2009
3. Issuer Name and Ticker or Trading Symbol
FLOWSERVE CORP [ FLS ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP Finance and Treasurer
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock ($1.25 par value per share) 7,123(1) D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Rights (2) 12/31/2009 Common Stock 1,270 (2) D
Performance Rights (2) 12/31/2010 Common Stock 760 (2) D
Performance Rights (2) 12/31/2011 Common Stock 1,232 (2) D
Stock Option (right-to-buy) 05/11/2009 05/11/2016 Common Stock 4,000 $59.14 D
Explanation of Responses:
1. Includes 2,550 shares of restricted common stock granted to the reporting person pursuant to the issuer's long term incentive compensation plan for employees, granted on Feburary 22, 2007, March 7, 2008 and February 12, 2009. The shares vest ratably over a three-year period on each annual anniversary of the grant. Also includes 4,000 shares of restricted common stock granted to the reporting person on May 13, 2009, which cliff vest on the third annual anniversary of the grant.
2. 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% based on the issuer's average return on net assets ("RONA") during the three-year performance cycle ending on the date of expiration in comparison to the average RONA of a predetermined peer group over the same performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.
Remarks:
/s/ Luke E. Alverson, attorney-in-fact 10/28/2009
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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