Ressler Michael J 4

What Happened

• Michael J. Ressler, Chief Financial Officer of Flexsteel Industries (FLXS), exercised stock options on 2026-05-11 to acquire 737 shares at an exercise price of $47.45 per share (total exercise cost reported as $34,971). To satisfy tax withholding, 629 of those shares were surrendered/disposed at an effective value of $55.63 per share (total ~$34,991). After withholding, the transaction resulted in a net 108 shares retained by Ressler.
• This is primarily an option exercise (a purchase/conversion of a derivative), with a routine tax-withholding disposition rather than an open-market sale.

Key Details

• Transaction date: 2026-05-11 (Form filed 2026-05-13).
• Option exercise: 737 shares at $47.45 each; total exercise amount reported $34,971.
• Tax withholding/disposition: 629 shares at $55.63 each; total value reported $34,991.
• Derivative reporting: 737-share option conversion reported at $0.00 (reflects conversion/exercise of derivative).
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: Form 4 filed two days after the transaction (appears timely).
• Codes: M = exercise/conversion of derivative (options); F = payment of exercise price or tax liability (share withholding).

Context

• This appears to be a cashless-style outcome: options were exercised and a portion of the resulting shares were withheld to cover taxes rather than sold in a separate open-market transaction. That withholding is common and does not necessarily indicate a broader change in insider sentiment.