0000030625-24-000012.txt : 20240213
0000030625-24-000012.hdr.sgml : 20240213
20240213161029
ACCESSION NUMBER: 0000030625-24-000012
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240209
FILED AS OF DATE: 20240213
DATE AS OF CHANGE: 20240213
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Hudson Susan Claire
CENTRAL INDEX KEY: 0001929781
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-13179
FILM NUMBER: 24625924
MAIL ADDRESS:
STREET 1: 5215 N O CONNOR BLVD
STREET 2: # 700
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]
ORGANIZATION NAME: 06 Technology
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
wk-form4_1707858606.xml
FORM 4
X0508
4
2024-02-09
0
0000030625
FLOWSERVE CORP
FLS
0001929781
Hudson Susan Claire
5215 N O CONNOR BLVD
# 700
IRVING
TX
75039
0
1
0
0
Chief Legal Officer
0
Restricted Stock Units
2024-02-09
4
A
0
9589
0
A
Common Stock
9589
24036
D
Performance Rights
2024-02-09
4
A
0
9589
0
A
Common Stock
9589
24659
D
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.
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, 2024 and ending on December 31, 2026 which are based equally on: 1) the issuer's ROIC for each calendar year in the performance period measured against the issuer's target ROIC for each calendar year in the performance period; and 2) the issuer's FCF as a percentage of adjusted net income for each calendar year in the performance period measured against the issuer's target FCF as a percentage of adjusted net income for each calendar year in the performance period. The performance rights are also subject to 15% payout modifier (positive or negative) based on the issuer's relative TSR in comparison to the TSR of companies that comprise the S&P 500 Industrials Index for the entire performance period.
/s/ Shakeeb U. Mir, attorney-in-fact
2024-02-13