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FLOWSERVE CORP·4

Feb 17, 4:37 PM ET

Hudson Susan Claire 4

Research Summary

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Updated

Flowserve (FLS) CLO Susan Hudson Receives Awards, Sells Shares

What Happened

  • Susan Hudson, Chief Legal Officer of Flowserve Corp (FLS), received new equity awards and converted/received shares from derivative awards. The filing shows awards acquired on Feb 12–13, 2026 totaling 35,816 award units (21,242 on Feb 13 and two grants of 7,287 on Feb 12), each reported at $0.00 acquisition price. On Feb 13, 2026 she also had an exercise/conversion of 20,128 derivative units (reported as disposed under code M). To cover tax withholding related to these equity events, 8,425 shares were disposed (code F) at $87.02 per share, generating proceeds of approximately $733,144.

Key Details

  • Transaction dates and amounts:
    • 2026-02-12: Two grants of 7,287 performance rights each (A), $0.00 acquisition price (derivative awards).
    • 2026-02-13: Grant of 21,242 restricted/performance units (A), $0.00 acquisition price.
    • 2026-02-13: Exercise/conversion of 20,128 derivative units (M), $0.00 proceeds shown.
    • 2026-02-13: Tax withholding disposal of 8,425 shares (F) at $87.02 for ~$733,144.
  • Shares owned after the transactions: not specified in the filing excerpt.
  • Footnotes of note:
    • F1/F3: Performance rights are contingent awards that vest based on multi-year performance (ROIC + EPS growth or ROIC + FCF depending on the cycle) and include a +/-15% TSR modifier versus the S&P 500 Industrial Index; may be settled in cash or stock.
    • F2: Restricted stock units convert to one share each at settlement and vest ratably over three years (annual anniversaries beginning March 1, 2026).
  • Filing timeliness: Form filed 2026-02-17 for transactions dated Feb 12–13, 2026; the filing does not indicate a late filing notation.

Context

  • This pattern—conversion of awards followed by a small share disposition for tax withholding—is common when equity awards vest or are settled; the sale appears limited to tax withholding rather than an open-market sale for investment purposes.
  • The awards include performance-based rights (with variable payout 0–200% depending on results) and time-based RSUs; performance rights' final payout depends on future multi-year performance metrics and may be paid in cash or shares.