Business Context and Reporting Period
This Form 8-K Current Report is filed by Flowserve Corporation on September 8, 2026, regarding events reported on September 14, 2026. The filing addresses significant executive leadership changes within the company's financial management team.
Key Financial Metrics
This filing does not contain operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
- Departure of CFO: Amy B. Schwetz resigned as Senior Vice President, Chief Financial Officer, and interim Chief Accounting Officer to accept a position at another publicly traded company. Her departure is effective September 30, 2026.
- Appointment of New CFO: Brian Ezzell was appointed as Senior Vice President, Chief Financial Officer, and interim Chief Accounting Officer, effective October 1, 2026.
- Reason for Departure: The resignation is explicitly stated as not related to any financial or accounting issues or disagreements with the Company regarding operations, policies, or practices.
Guidance, Outlook, and Compensation
Guidance and Outlook: The Company confirmed there is no expected change to its previously announced full-year guidance for fiscal year 2026.
Compensation for New CFO (Brian Ezzell):
- Base Salary: $625,000 annually.
- Annual Incentive: Target award of 75% of base salary.
- Long-Term Incentive: Target annual award of $1,600,000 commencing in 2027.
- One-Time Grant: Restricted stock units valued at $200,000 (vesting ratably over three years) and performance rights valued at $200,000 (vesting based on performance factors over three years).
Investor Verification Checklist
- Verify the transition timeline between Ms. Schwetz's departure (September 30, 2026) and Mr. Ezzell's start date (October 1, 2026) to ensure no gap in financial leadership.
- Review the attached press release (Exhibit 99.1) for any additional context on the strategic rationale for the leadership change.
- Confirm that the "no change" to fiscal year 2026 guidance remains valid in subsequent quarterly reports.
- Monitor the vesting conditions for Mr. Ezzell's performance rights to understand the specific performance factors required.