0000030625-23-000022.txt : 20230221 0000030625-23-000022.hdr.sgml : 20230221 20230221163806 ACCESSION NUMBER: 0000030625-23-000022 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230216 FILED AS OF DATE: 20230221 DATE AS OF CHANGE: 20230221 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Gillespie Keith E. CENTRAL INDEX KEY: 0001641570 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-13179 FILM NUMBER: 23648779 MAIL ADDRESS: STREET 1: 5215 NORTH O'CONNOR BLVD #2300 CITY: IRVING STATE: TX ZIP: 75039 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 700 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 9724436500 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 700 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 4 1 wf-form4_167701544358825.xml FORM 4 X0306 4 2023-02-16 0 0000030625 FLOWSERVE CORP FLS 0001641570 Gillespie Keith E. 5215 NORTH O'CONNOR BLVD SUITE 700 IRVING TX 75039 0 1 0 0 SVP, Chief Sales Officer Common Stock 2023-02-16 4 M 0 1092 0 A 74822 D Common Stock 2023-02-16 4 F 0 266 36.07 D 74556 D Common Stock 2023-02-16 4 M 0 2787 0 A 77343 D Common Stock 2023-02-16 4 F 0 678 36.07 D 76665 D Common Stock 2023-02-16 4 M 0 2787 0 A 79452 D Common Stock 2023-02-16 4 F 0 679 36.07 D 78773 D Restricted Stock Units 2023-02-16 4 M 0 2728 0 D Common Stock 2728.0 18739 D Restricted Stock Units 2023-02-16 4 M 0 2728 0 D Common Stock 2728.0 16011 D Performance Rights 2023-02-16 4 M 0 6310 0 D Common Stock 6310.0 17131 D 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 16% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2020 and ending on December 31, 2022, which are: 1) the issuer's total shareholder return ("TSR") in comparison to the TSR percentile ranking for companies that comprise the compensation peer group over the performance cycle; and 2) the issuer's return on invested capital ("ROIC") measured against the issuer's targeted ROIC under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock. 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. /s/ Shakeeb U. Mir, attorney-in-fact 2023-02-21