Gillespie Keith E. 4
4 · FLOWSERVE CORP · Filed Feb 21, 2023
Insider Transaction Report
Form 4
Gillespie Keith E.
Chief Strategy & Admin Officer
Transactions
- Tax Payment
Common Stock
2023-02-16$36.07/sh−678$24,455→ 76,665 total - Exercise/Conversion
Performance Rights
2023-02-16−6,310→ 17,131 total→ Common Stock (6,310 underlying) - Exercise/Conversion
Common Stock
2023-02-16+2,787→ 77,343 total - Exercise/Conversion
Common Stock
2023-02-16+1,092→ 74,822 total - Tax Payment
Common Stock
2023-02-16$36.07/sh−679$24,492→ 78,773 total - Exercise/Conversion
Restricted Stock Units
2023-02-16−2,728→ 16,011 total→ Common Stock (2,728 underlying) - Tax Payment
Common Stock
2023-02-16$36.07/sh−266$9,595→ 74,556 total - Exercise/Conversion
Common Stock
2023-02-16+2,787→ 79,452 total - Exercise/Conversion
Restricted Stock Units
2023-02-16−2,728→ 18,739 total→ Common Stock (2,728 underlying)
Footnotes (2)
- [F1]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 16% (plus dividends accrued on the underlying shares) based on two factors during the three-year performance cycle beginning on January 1, 2020 and ending on December 31, 2022, which are: 1) the issuer's total shareholder return ("TSR") in comparison to the TSR percentile ranking for companies that comprise the compensation peer group over the performance cycle; and 2) the issuer's return on invested capital ("ROIC") measured against the issuer's targeted ROIC under its operating plan. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.
- [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 the grant.