Flowserve Reports Officer Compensation, Leadership Changes

TL;DR

**Flowserve just filed an 8-K about executive compensation and potential leadership changes.**

AI Summary

This 8-K filing from Flowserve Corporation (FLS) on February 6, 2024, reports an event that occurred on February 1, 2024. The filing indicates a change in compensatory arrangements for certain officers, as well as potential departures or elections of directors or officers. This matters to investors because changes in executive compensation or leadership can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.

Why It Matters

Changes in executive compensation and leadership can influence a company's strategic direction and operational efficiency, directly affecting its financial outlook and investor confidence.

Risk Assessment

Risk Level: medium — While not inherently negative, changes in executive compensation and leadership introduce uncertainty regarding future company direction and stability.

Analyst Insight

A smart investor would monitor Flowserve's subsequent filings and press releases for specific details regarding the executive changes and compensation adjustments, as these could provide clearer insights into the company's strategic direction and financial health.

Key Numbers

• $1.25 — Par Value (Par value of Flowserve's Common Stock)

Key Players & Entities

• FLOWSERVE CORP (company) — the registrant filing the 8-K
• February 1, 2024 (date) — date of the earliest event reported
• February 6, 2024 (date) — date the 8-K was filed
• New York Stock Exchange (company) — exchange where Flowserve's common stock is registered
• Common Stock, $1.25 Par Value (dollar_amount) — par value of Flowserve's common stock

Forward-Looking Statements

• Flowserve will provide more specific details regarding the changes in compensatory arrangements or officer/director roles in a subsequent filing or announcement. (FLOWSERVE CORP) — medium confidence, target: 2024-03-31

FAQ

From the Filing

0001193125-24-024827.txt : 20240206 0001193125-24-024827.hdr.sgml : 20240206 20240206080102 ACCESSION NUMBER: 0001193125-24-024827 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240201 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240206 DATE AS OF CHANGE: 20240206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLOWSERVE CORP CENTRAL INDEX KEY: 0000030625 STANDARD INDUSTRIAL CLASSIFICATION: PUMPS & PUMPING EQUIPMENT [3561] ORGANIZATION NAME: 06 Technology IRS NUMBER: 310267900 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13179 FILM NUMBER: 24598133 BUSINESS ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 700 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 9724436500 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 700 CITY: IRVING STATE: TX ZIP: 75039 FORMER COMPANY: FORMER CONFORMED NAME: DURCO INTERNATIONAL INC DATE OF NAME CHANGE: 19970508 FORMER COMPANY: FORMER CONFORMED NAME: DURIRON CO INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: THE DURIRON CO INC DATE OF NAME CHANGE: 19900509 8-K 1 d761940d8k.htm 8-K 8-K FLOWSERVE CORP false 0000030625 0000030625 2024-02-01 2024-02-01     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 1, 2024     FLOWSERVE CORPORATION (Exact Name of Registrant as Specified in its Charter)       New York   001-13179   31-0267900 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)   5215 N. O’Connor Blvd. , Suite 700 , Irving , Texas   75039 (Address of Principal Executive Offices)   (Zip Code) (972) 443-6500 (Registrant’s telephone number, including area code) N/A (Former Name or Former Address, if Changed Since Last Report)     Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $1.25 Par Value   FLS   New York Stock Exchange Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) On February 1, 2024, Elizabeth L. Burger tendered her resignation as Senior Vice President, Chief Human Resources Officer of Flowserve Corporation, a New York corpo