Boukalik Brian 4
4 · FLOWSERVE CORP · Filed May 29, 2024
Insider Transaction Report
Form 4
Boukalik Brian
Chief Human Resources Officer
Transactions
- Award
Restricted Stock Units
2024-05-28+2,044→ 2,044 total→ Common Stock (2,044 underlying) - Award
Restricted Stock Units
2024-05-28+3,781→ 5,825 total→ Common Stock (3,781 underlying) - Award
Performance Rights
2024-05-28+3,781→ 3,781 total→ Common Stock (3,781 underlying)
Footnotes (3)
- [F1]Each restricted stock unit represents the right to receive, at settlement, one share of common stock 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 beginning on June 15, 2025.
- [F2]Each restricted stock unit represents the right to receive, at settlement, one share of common stock 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 beginning on March 1, 2025.
- [F3]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, 2024 and ending on December 31, 2026 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.