<SEC-DOCUMENT>0000030625-22-000071.txt : 20220516
<SEC-HEADER>0000030625-22-000071.hdr.sgml : 20220516
<ACCEPTANCE-DATETIME>20220516184744
ACCESSION NUMBER:		0000030625-22-000071
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220515
FILED AS OF DATE:		20220516
DATE AS OF CHANGE:		20220516

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Wilson Kirk
		CENTRAL INDEX KEY:			0001654776

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13179
		FILM NUMBER:		22931598

	MAIL ADDRESS:	
		STREET 1:		5215 NORTH O'CONNOR BLVD #2300
		CITY:			IRVING
		STATE:			TX
		ZIP:			75039

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FLOWSERVE CORP
		CENTRAL INDEX KEY:			0000030625
		STANDARD INDUSTRIAL CLASSIFICATION:	PUMPS & PUMPING EQUIPMENT [3561]
		IRS NUMBER:				310267900
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	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
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_165274124688106.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-05-15</periodOfReport>

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    <issuer>
        <issuerCik>0000030625</issuerCik>
        <issuerName>FLOWSERVE CORP</issuerName>
        <issuerTradingSymbol>FLS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001654776</rptOwnerCik>
            <rptOwnerName>Wilson Kirk</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5215 N. O'CONNOR BLVD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 700</rptOwnerStreet2>
            <rptOwnerCity>IRVING</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75039</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President, FCD</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-05-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>278</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>48076</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>47798</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Performance Rights</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
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            <transactionDate>
                <value>2022-05-15</value>
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                </transactionShares>
                <transactionPricePerShare>
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            <exerciseDate>
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            <expirationDate>
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            <underlyingSecurity>
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                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>278.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>25823</value>
                </sharesOwnedFollowingTransaction>
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    <footnotes>
        <footnote id="F1">Pursuant to the applicable award agreements, restricted stock units granted to Mr. Wilson continue to vest over the original vesting period without regard to his continued service once he has attained a minimum age of 55 and has completed 10 years of continuous service with the Company. As a result of Mr. Wilson's having met these age and service requirements, these restricted stock units were forfeited back to the Company to satisfy certain tax requirements attributable to outstanding awards as a result of this provision.</footnote>
        <footnote id="F2">Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vest at a rate between 0% and 200% and are based on two factors during a three-year performance cycle beginning on January 1, 2022 and ending on December 31, 2024 which are: 1) the issuer's return on invested capital (&quot;ROIC&quot;) measured against the issuer's target ROIC for each calendar year during the performance period; and 2) the issuer's free cash flow (&quot;FCF&quot;) as a percentage of net income over the entire performance period. The performance rights are also subject to 15% payout modifier (positive or negative) based on the issuer's relative total shareholder return (&quot;TSR&quot;) in comparison to the TSR of companies that comprise the S&amp;P 500 Industrial Index for the entire performance period.  The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Shakeeb Mir, attorney-in-fact</signatureName>
        <signatureDate>2022-05-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
