Guiltinan Richard J JR 4
4 · FLOWSERVE CORP · Filed Feb 14, 2011
Insider Transaction Report
Form 4
Guiltinan Richard J JR
VP,Controller,Chief Acct Ofcr
Transactions
- Award
Common Stock ($1.25 par value per share)
2011-02-10+1,928→ 19,722 total - Tax Payment
Common Stock ($1.25 par value per share)
2011-02-12$132.03/sh−365$48,191→ 19,357 total - Award
Performance Rights
2011-02-10+1,928→ 8,078 totalExp: 2013-12-31→ Common Stock (1,928 underlying)
Footnotes (2)
- [F1]Represents shares of restricted common stock 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.
- [F2]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% based on the issuer's average return on net assets ("RONA") during a three-year performance cycle beginning on January 1, 2011 and ending on December 31, 2013 in comparison to the RONA averages of a predetermined peer group over the same performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.