Form 4: Flowserve Director Ruby R. Chandy Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Director Ruby R. Chandy reports acquisition of phantom stock representing deferred compensation in Flowserve Corp.
Summary
- On May 16, 2024, Ruby R. Chandy, a director of Flowserve Corp, acquired 3,210 shares of phantom stock.
- The phantom stock represents director compensation deferred in the form of common stock.
- Each share of phantom stock is the economic equivalent of one share of common stock.
- The shares become payable in the form of common stock upon termination of service as a board member.
- The price of the phantom stock was $49.84.
- Following the transaction, Chandy beneficially owns 29,367 derivative securities.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding director compensation.
Key Dates
| Date | Description |
|---|---|
| 05/16/2024 | Date of transaction: Ruby R. Chandy acquired phantom stock. |
| 05/17/2024 | Date of signature for the Form 4 filing. |
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