0000030625-17-000088.txt : 20170508 0000030625-17-000088.hdr.sgml : 20170508 20170508171806 ACCESSION NUMBER: 0000030625-17-000088 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170504 FILED AS OF DATE: 20170508 DATE AS OF CHANGE: 20170508 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: FLOWSERVE CORP CENTRAL INDEX KEY: 0000030625 STANDARD INDUSTRIAL CLASSIFICATION: PUMPS & PUMPING EQUIPMENT [3561] IRS NUMBER: 310267900 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 2300 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 9724436500 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 2300 CITY: IRVING STATE: TX ZIP: 75039 FORMER COMPANY: FORMER CONFORMED NAME: DURCO INTERNATIONAL INC DATE OF NAME CHANGE: 19970508 FORMER COMPANY: FORMER CONFORMED NAME: DURIRON CO INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: THE DURIRON CO INC DATE OF NAME CHANGE: 19900509 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Rowe Robert Scott CENTRAL INDEX KEY: 0001608962 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-13179 FILM NUMBER: 17823460 MAIL ADDRESS: STREET 1: 1333 WEST LOOP SOUTH, SUITE 1700 CITY: HOUSTON STATE: TX ZIP: 77027 4 1 wf-form4_149427827212257.xml FORM 4 X0306 4 2017-05-04 0 0000030625 FLOWSERVE CORP FLS 0001608962 Rowe Robert Scott 5215 NORTH O'CONNOR BLVD SUITE 2300 IRVING TX 75039 0 1 0 0 President & CEO Common Stock 21720 D Restricted Stock Units 2017-05-04 4 A 0 56310 0 A Common Stock 56310.0 56310 D Performance Rights 2017-05-04 4 A 0 56310 0 A Common Stock 56310.0 56310 D Stock Option 48.63 2017-05-04 4 A 0 114943 0 A 2027-05-04 Common Stock 114943.0 114943 D Each restricted stock unit represents the right to receive, at settlement, one share of common stock and are granted to the reporting person pursuant to the issuer's long-term incentive compensation plan for employees. The shares vest ratably on April 1, 2018, April 1, 2019 and April 1, 2020. 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, 2017 and ending on December 31, 2019 which are: 1) the issuer's relative total share holder return ("TSR") in comparison to the TSR averages of a predetermined peer group over the performance cycle; and 2) the issuer's return on invested capital measured against the issuer's performance relative to its weighted average cost of capital and relative to a predetermined peer group over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock. The options vest on April 1, 2020. /s/ Carey A. O'Connor, attorney-in-fact 2017-05-08 EX-24 2 ex-24.htm SECTION 16 POWER OF ATTORNEY

LIMITED POWER OF ATTORNEY

The undersigned hereby constitutes and appoints each of Carey A. O'Connor and Akshar C. Patel, signing singly, the undersigned's true and lawful attorney-in-fact to:

(1) execute for and on behalf of the undersigned, in the undersigned's capacity as an officer and/or director of Flowserve Corporation (the "Company"), Forms 3, 4 and 5 in accordance with Section 16 of the Securities Exchange Act of 1934 and the rules thereunder;
(2) do and perform any and all acts for and on behalf of the undersigned that may be necessary, desirable or appropriate to complete and execute any such Form 3, 4 or 5, complete and execute any amendment or amendments thereto and timely file such form with the U.S. Securities and Exchange Commission and any stock exchange or similar authority; and
(3) take any and all other action of any type whatsoever in connection with the foregoing that, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of or legally required by the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

The undersigned is executing this Power of Attorney on the date set forth below.

/s/ R. Scott Rowe
Signature

R. Scott Rowe
Print Name

April 1, 2017
Date