Form 4: Flowserve Director Ruby R. Chandy Reports Phantom Stock Acquisition
SEC Form 4 Filing
Director Ruby R. Chandy reports acquisition of phantom stock in Flowserve Corp.
Summary
- On May 2, 2024, Ruby R. Chandy, a director of Flowserve Corp, reported acquiring 124 shares of phantom stock.
- Following the transaction, Chandy directly owns 26,157 shares of phantom stock.
- Each share of phantom stock is the economic equivalent of one share of common stock and represents deferred director compensation.
- The phantom stock becomes payable in common stock upon termination of service as a board member.
Sentiment
Score: 7
Explanation: The document is a neutral regulatory filing. It indicates standard compensation practices for board members, which is neither particularly positive nor negative.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as directors and officers, ensuring fair market practices.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it involves deferred compensation in the form of phantom stock.
Key Dates
| Date | Description |
|---|---|
| 05/02/2024 | Date of transaction and filing. |
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