FLOWSERVE CORP 4
4 · FLOWSERVE CORP · Filed Feb 20, 2015
Insider Transaction Report
Form 4
Taff Michael S
SVP and CFO
Transactions
- Sale
Common Stock ($1.25 par value per share)
2015-02-20$62.48/sh−30,000$1,874,415→ 32,102 total
Holdings
- 52,260
Performance Rights
Exp: 2017-12-31→ Common Stock (52,260 underlying)
Footnotes (2)
- [F1]The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $61.91 to 62.90, inclusive. The reporting person undertakes to provide Flowserve Corporation, any security holder of Flowserve Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- [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 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.