Form 4: Director Ruby R. Chandy Reports Acquisition of Flowserve Corp Phantom Stock

Ruby R. Chandy, a director of Flowserve Corp, reported the acquisition of phantom stock equivalent to 135 shares of common stock on February 27, 2024, as part of deferred compensation.

Summary

• On February 27, 2024, Ruby R. Chandy, a director of Flowserve Corp, filed a Form 4 to report changes in beneficial ownership.
• The report indicates the acquisition of 135 shares of phantom stock at a price of $42.17.
• These shares represent deferred director compensation in the form of common stock.
• Following the transaction, Chandy directly owns 26,033 shares of phantom stock.
• The phantom stock becomes payable in common stock upon termination of service as a board member.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing indicating standard compensation practices. It doesn't suggest any significant positive or negative implications for the company's financial health or future prospects.

Future Outlook

The phantom stock will be converted to common stock upon the director's termination of service.

Industry Context

This filing is a routine disclosure related to director compensation and is typical for publicly traded companies.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it relates to director compensation.

Key Dates