Boukalik Brian 4
4 · FLOWSERVE CORP · Filed Feb 18, 2025
Insider Transaction Report
Form 4
Boukalik Brian
Chief Human Resources Officer
Transactions
- Award
Restricted Stock Units
2025-02-13+5,205→ 11,030 total→ Common Stock (5,205 underlying) - Award
Performance Rights
2025-02-13+5,205→ 8,986 total→ Common Stock (5,205 underlying)
Footnotes (2)
- [F1]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, 2025 and ending on December 31, 2027 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.
- [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 March 1, 2025.