4//SEC Filing
Schwetz Amy B 4
Accession 0000030625-25-000015
CIK 0000030625other
Filed
Feb 17, 7:00 PM ET
Accepted
Feb 18, 4:29 PM ET
Size
14.6 KB
Accession
0000030625-25-000015
Insider Transaction Report
Form 4
Schwetz Amy B
Chief Financial Officer
Transactions
- Award
Common Stock
2025-02-13+20,659→ 91,744 total - Tax Payment
Common Stock
2025-02-13$62.00/sh−8,015$496,930→ 83,729 total - Award
Performance Rights
2025-02-13+16,818→ 92,556 total→ Common Stock (16,818 underlying) - Award
Restricted Stock Units
2025-02-13+16,818→ 66,845 total→ Common Stock (16,818 underlying) - Exercise/Conversion
Performance Rights
2025-02-13−19,345→ 73,211 total→ Common Stock (19,345 underlying)
Footnotes (3)
- [F1]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, 2025 and ending on December 31, 2027 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.
- [F2]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 March 1, 2025.
- [F3]Each performance right represented a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vested at a rate of 76.7% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2022 and ending on December 31, 2024, which are: 1) the issuer's free cash flow ("FCF") as a percent of adjusted net income for the performance period in comparison to the issuer's targeted free cash flow as a percent of adjusted net income for the performance period; and 2) the issuer's return on invested capital ("ROIC") for each calendar year in the performance period measured against the issuer's targeted ROIC for each calendar year under its operating plan. The performance rights were also subject to a 15% payout modifier (positive or negative) based on the issuer's total shareholder return ("TSR") in comparison to the TSR of peer companies for the entire performance period.
Documents
Issuer
FLOWSERVE CORP
CIK 0000030625
Entity typeother
Related Parties
1- filerCIK 0001647437
Filing Metadata
- Form type
- 4
- Filed
- Feb 17, 7:00 PM ET
- Accepted
- Feb 18, 4:29 PM ET
- Size
- 14.6 KB