Form 4: Flowserve Director Cheryl H. Johnson Reports Phantom Stock Transaction

Director Cheryl H. Johnson reported acquiring phantom stock equivalent to 3,210 shares of Flowserve Corp common stock on May 16, 2024, as part of deferred compensation.

Summary

• On May 16, 2024, Cheryl H. Johnson, a director of Flowserve Corp, acquired 3,210 shares of phantom stock.
• The phantom stock is equivalent to common stock and represents deferred director compensation.
• The transaction was reported on a Form 4 filing with the SEC.
• Following the transaction, Johnson beneficially owns 4,502 derivative securities.
• The phantom stock becomes payable in common stock upon termination of service as a board member.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally neutral to slightly positive as it aligns director interests with shareholders.

Positives

• The acquisition of phantom stock aligns the director's interests with those of the shareholders.
• Deferred compensation in the form of stock can be seen as a positive sign of confidence in the company's future performance.

Future Outlook

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

Industry Context

Reporting of insider transactions is a standard practice to ensure transparency and prevent insider trading.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.

Key Dates