Named after John Flamsteed - British astronomer (1646-1719).
Flamsteed is a small lunar crater located on the Oceanus Procellarum. It lies almost due east of the dark-hued Grimaldi, and north-northwest of the flooded Letronne bay on the south edge of the mare. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On the Moon they are named after deceased scientists, polar explorers, astronauts or cosmonauts.