FLOWSERVE CORP 4
4 · FLOWSERVE CORP · Filed Feb 3, 2017
Insider Transaction Report
Form 4
OConnor Carey
SVP, Secretary and GC
Transactions
- Award
Restricted Stock Units
2017-02-01+8,190→ 17,800 total→ Common Stock (8,190 underlying) - Award
Performance Rights
2017-02-01+8,190→ 27,950 total→ Common Stock ($1.25 par value per share) (8,190 underlying)
Footnotes (2)
- [F1]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 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 are based on two factors during a three-year performance cycle beginning on January 1, 2017 and ending on December 31, 2019 which are: 1) the issuer's relative total share holder return ("TSR") in comparison to the TSR averages of a predetermined peer group over the performance cycle; and 2) the issuer's return on invested capital measured against the issuer's performance relative to its weighted average cost of capital and relative to a predetermined peer group over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.