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

Director Kenneth Siegel reports acquisition of phantom stock in Flowserve Corp.

Summary

• Kenneth Siegel, a director of Flowserve Corp, filed a Form 4 on August 1, 2024, reporting a transaction.
• The transaction involved the acquisition of 615 shares of phantom stock at a price of $49.04.
• Following the reported transaction, Siegel beneficially owns 12,729 shares of phantom stock.
• The phantom stock is the economic equivalent of common stock and represents deferred director compensation.
• The shares become payable in the form of common stock upon termination of service as a board member.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

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

Future Outlook

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

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation.

Key Dates