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

Director Kenneth Siegel reported the acquisition of phantom stock in Flowserve Corp, representing deferred compensation.

Summary

• Kenneth Siegel, a director of Flowserve Corp, filed a Form 4 indicating a transaction involving phantom stock.
• On May 16, 2024, Siegel acquired 3,210 shares of phantom stock.
• These shares represent deferred director compensation and are economically equivalent to common stock.
• The phantom stock becomes payable in common stock upon termination of Siegel's service as a board member.
• Following the transaction, Siegel directly owns 12,114 shares of phantom stock.
• The price of the phantom stock was $49.84.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to director compensation. It doesn't inherently indicate positive or negative sentiment, but rather reflects standard corporate governance practices.

Industry Context

Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates a director's acquisition of phantom stock, a common form of deferred compensation for board members.

Stakeholder Impact

• The acquisition of phantom stock by a director aligns their interests with those of the shareholders, as the value of the phantom stock is tied to the performance of the company's common stock.

Key Dates