Form 4: Flowserve Director Ruby R. Chandy Reports Acquisition of Phantom Stock

Director Ruby R. Chandy reports acquisition of phantom stock in Flowserve Corp.

Summary

• On November 6, 2024, Ruby R. Chandy, a director of Flowserve Corp, acquired 103 shares of phantom stock.
• The phantom stock is the economic equivalent of common stock and represents deferred director compensation.
• The price of the phantom stock was $59.24 per share.
• Following the transaction, Chandy directly owns 29,594 shares of phantom stock.
• The phantom stock becomes payable in common stock upon termination of service as a board member.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. It simply reports a transaction.

Positives

• The acquisition of phantom stock aligns the director's interests with the company's long-term performance.
• Deferred compensation in the form of stock can be seen as a positive sign of commitment.

Future Outlook

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

Industry Context

Reporting of stock ownership changes by company insiders is standard practice and required by the SEC to ensure transparency and prevent insider trading.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and ownership.

Key Dates