Schmidt Derek P 4

What Happened

• Derek P. Schmidt, President & CEO and Director of Flexsteel Industries (FLXS), had restricted stock units (RSUs) vest on June 30, 2026. A total of 12,560 RSUs converted to shares (9,444 from a 7/1/2023 grant and 3,116 from a 7/1/2025 grant). To cover tax withholding, 5,420 shares were disposed at $74.48 per share for a value of $403,682. After withholding, Schmidt netted 7,140 shares from the vesting event. He was also granted 5,483 new service-based RSUs on July 1, 2026 (these are unvested).

Key Details

• Transaction dates: Vesting/conversion and withholding on 2026-06-30; new RSU grant on 2026-07-01.
• Withholding sale: 5,420 shares at $74.48 each, total $403,682 (code F = tax withholding).
• RSU conversions: 9,444 and 3,116 RSUs vested/converted (codes M = conversion of derivative). Conversion prices shown as N/A (these were RSUs, not option exercises requiring cash).
• Net immediate change: +7,140 shares added to beneficial ownership after tax withholding; plus 5,483 unvested RSUs awarded.
• Footnotes: F1—each RSU is a right to one share; F2—9,444 RSUs were granted 7/1/2023 and vested 6/30/2026; F3—3,116 RSUs are from a 7/1/2025 grant with 33.33% vesting on 6/30/2026; F4—the 5,483 RSU award vests 33.33% on each of 6/30/2027–6/30/2029.
• Filing timeliness: filing did not indicate a late filing in the provided details.

Context

• This was a routine RSU vesting event with shares withheld/sold to satisfy tax obligations (a common corporate practice), not an open-market sale for cash or investment purposes. The new 5,483 RSU grant is service-based and will vest over future years per the footnote schedule.