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

Director Kenneth Siegel acquired 509 shares of Flowserve Corp phantom stock, equivalent to common stock, as part of deferred compensation.

Summary

• Kenneth I. Siegel, a director of Flowserve Corp, reported a transaction on November 6, 2024.
• Siegel acquired 509 shares of phantom stock, which are the economic equivalent of common stock.
• The phantom stock represents deferred director compensation.
• The price of the phantom stock was $59.24 per share.
• Following the transaction, Siegel directly owns 13,238 shares of phantom stock.
• The shares of phantom stock become payable in the form of common stock upon the reporting person's termination of service as a member of the issuer's board of directors.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing an insider transaction. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The shares of phantom stock become payable in the form of common stock upon the reporting person's termination of service as a member of the issuer's board of directors.

Industry Context

This filing is a routine disclosure of insider transactions, specifically related to director compensation in the form of phantom stock, which is a common practice among publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock awards, are a common practice for compensating directors in publicly traded companies like Flowserve.
• Companies such as General Electric, Siemens, and ABB also utilize various forms of deferred compensation for their executives and board members.
• The specific terms and conditions of these plans vary, but the underlying principle is to align the interests of the directors with the long-term performance of the company.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency regarding director compensation and alignment with shareholder interests.

Key Dates