FLOWSERVE CORP 4
4 · FLOWSERVE CORP · Filed Feb 6, 2015
Insider Transaction Report
Form 4
Taff Michael S
SVP and CFO
Transactions
- Award
Common Stock ($1.25 par value per share)
2015-02-04+11,880→ 67,750 total - Tax Payment
Common Stock ($1.25 par value per share)
2015-02-05$58.08/sh−3,244$188,412→ 64,506 total - Award
Performance Rights
2015-02-04+11,880→ 52,260 totalExp: 2017-12-31→ Common Stock (11,880 underlying)
Footnotes (2)
- [F1]Represents shares of restricted common stock 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.
- [F2]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 may be based on a number of factors during a three-year performance cycle beginning on January 1, 2015 and ending on December 31, 2017, which may include but is not limited to: 1) the issuer's average return on net assets ("RONA") in comparison to the RONA averages of a predetermined peer group over the performance cycle; 2) the issuer's growth in bookings in comparison to the growth in gross domestic product of countries that are members of the Organisation for Economic Co-operation and Development over the performance cycle; and 3) earnings per share growth over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.