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SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 		 
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OMB Number: 3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
JOHNSTON MICHAEL F
(Last) (First) (Middle)
5215 N. O'CONNOR BLVD., SUITE 2300
(Street)
IRVING TX 75039
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
FLOWSERVE CORP [ FLS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/24/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock ($1.25 par value per share) 08/24/2006 A 4,040 A $0.00 26,592 I Rabbi Trust
Common Stock ($1.25 par value per share) 984 I Individual Trust
Common Stock ($1.25 par value per share) 0 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right-to-buy) $26.55 (1) 05/06/2007 Common Stock 1,219 1,219 D
Stock Option (right-to-buy) $13.13 (1) 04/20/2010 Common Stock 2,000 2,000 D
Stock Option (right-to-buy) $25.69 (1) 04/19/2011 Common Stock 1,500 1,500 D
Stock Option (right-to-buy) $32.12 (1) 04/18/2012 Common Stock 1,500 1,500 D
Stock Option (right-to-buy) $14.29 (1) 04/21/2013 Common Stock 1,500 1,500 D
Stock Option (right-to-buy) $26.01 (2) (3) Common Stock 3,484 3,484 D
Explanation of Responses:
1. Option shares are fully vested and exercisable.
2. Option becomes exercisable on the date Issuer becomes current with its SEC filings.
3. As a result of certain tax considerations discussed in the Issuer's Form 8-K dated December 14, 2005, the option extensions as disclosed in the original Form 4 report have been partially rescinded so that they continue only until the later of (i) 30 days after the options first become lawfully exercisable after the expiration of the securities trading limitations currently applicable to the Issuer's stock option programs or (ii) in the case of option which expire in 2006 under their terms in effect as originally granted, the later of December 31, 2006 or two and one-half months after the date of their respective original expiration dates.
Remarks:
/s/ Tara D. Mackey, attorney in fact 08/28/2006
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
             POWER OF ATTORNEY



	The undersigned, Michael F. Johnston, being a director of Flowserve Corporation
(the "Company"), hereby appoints Ronald F. Shuff, Tara D. Mackey and Mark A.
Blinn, or any one of them, as his agent and attorney-in-fact to prepare and
execute, on his behalf, all reports required, in the judgment of Ronald F.
Shuff, Tara D. Mackey or Mark A. Blinn, to be filed with the Securities and
Exchange Commission involving his transactions in the securities of the Company,
including, without limitation, the filing of all his required Form 3, Form 4 and
Form 5 reports.

	This Power of Attorney shall extend until revoked in writing by the undersigned
or until the undersigned is no longer subject to the requirements of Section 16
of the Securities Exchange Act due to termination of his role as a Director of
the Company.



						/s/ Michael F. Johnston
						Michael F. Johnston

Dated:  June 12, 2006