Rowe Robert Scott bought FLS

February 9, 2024 · Form 4 insider transaction

Rowe Robert Scott bought 38,408 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 4 days after the transaction.

Direction
Acquired (buy-side)
Shares
38,408
Price
$0.00
Total value
N/A
Role—
SecurityCommon Stock
Transaction codeM: Option exercise
Transaction dateFebruary 9, 2024
Filing dateFebruary 13, 2024
Shares owned after366,838
OwnershipDirect
10b5-1 planNo
AmendedNo

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 49% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2021 and ending on December 31, 2023, 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.

View the original Form 4 on SEC EDGAR