Rowe Robert Scott sold FLS
February 13, 2025 · Form 4 insider transaction
Rowe Robert Scott sold 67,414 shares of Flowserve Corporation at $0.00 per share, a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 5 days after the transaction.
Footnotes
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.