0000030625-24-000078.txt : 20240529 0000030625-24-000078.hdr.sgml : 20240529 20240529161636 ACCESSION NUMBER: 0000030625-24-000078 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240528 FILED AS OF DATE: 20240529 DATE AS OF CHANGE: 20240529 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Boukalik Brian CENTRAL INDEX KEY: 0002024241 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-13179 FILM NUMBER: 24998633 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 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_1717013786.xml FORM 4 X0508 4 2024-05-28 0 0000030625 FLOWSERVE CORP FLS 0002024241 Boukalik Brian 5215 N. O'CONNOR BLVD. SUITE 700 IRVING TX 75039 0 1 0 0 Chief Human Resources Officer 0 Restricted Stock Units 2024-05-28 4 A 0 2044 0 A Common Stock 2044 2044 D Restricted Stock Units 2024-05-28 4 A 0 3781 0 A Common Stock 3781 5825 D Performance Rights 2024-05-28 4 A 0 3781 0 A Common Stock 3781 3781 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 over a three-year period beginning on June 15, 2025. 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 over a three-year period beginning on March 1, 2025. 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 2024-05-29