Form 4: Flowserve Director Kenneth I. Siegel Reports Acquisition of Phantom Stock

Director Kenneth I. Siegel reported the acquisition of phantom stock in Flowserve Corp on May 2, 2024.

Summary

• Kenneth I. Siegel, a director of Flowserve Corp, filed a Form 4 to report changes in beneficial ownership.
• On May 2, 2024, Siegel acquired 610 shares of phantom stock at a price of $47.1.
• Following the transaction, Siegel beneficially owns 8,904 shares of phantom stock directly.
• The phantom stock is the economic equivalent of common stock and represents deferred director compensation.
• The shares become payable in common stock upon termination of service as a board member.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard insider activity and alignment of interests. There are no indications of negative events or concerns.

Positives

• The acquisition of phantom stock aligns the director's interests with the company's long-term performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The acquisition of phantom stock by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates