Form 4: Flowserve Director John L. Garrison Jr. Reports Acquisition of Phantom Stock

Director John L. Garrison Jr. acquired 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, John L. Garrison Jr., a director of Flowserve Corp, acquired 3,210 shares of phantom stock.
• This phantom stock represents deferred director compensation and is the economic equivalent of common stock.
• The acquisition occurred at a price of $49.84 per share.
• Following the transaction, Garrison directly owns 31,065 derivative securities.
• The phantom stock becomes payable in common stock upon Garrison's termination of service as a board member.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices, aligning interests with shareholders.

Future Outlook

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

Industry Context

This filing reflects standard practices for director compensation, often including deferred stock or phantom stock to align director interests with long-term shareholder value.

Stakeholder Impact

• The transaction aligns the director's interests with those of shareholders by tying compensation to the company's stock performance.

Key Dates