Flexsteel (FLXS) CEO Derek Schmidt Receives Stock Award; 11,858 Shares Withheld

What Happened

• Derek P. Schmidt, President & CEO and a director of Flexsteel Industries (FLXS), received a stock award of 27,480 shares on 2026-08-19 (transaction code A). To satisfy tax withholding (transaction code F), 11,858 of those shares were surrendered at $78.17 per share, a withholding value of $926,940. Net shares retained from the grant = 15,622 shares. The grant shows $0 per-share acquisition price because these were awarded shares (compensation).

Key Details

• Transaction date: 2026-08-19. Filing date: 2026-09-01 (filed late; flagged as late).
• Grant: 27,480 shares (code A) at $0.00 per share (award/compensation).
• Tax withholding: 11,858 shares surrendered/disposed (code F) at $78.17 each — total ~$926,940.
• Net new shares issued to insider: 15,622 shares (27,480 granted minus 11,858 withheld).
• Shares owned after transaction: Not reported in the provided filing.
• Notes: Code F indicates shares were withheld/surrendered to pay tax liability (not an open-market sale). Filing lateness may reduce timeliness for other investors relying on immediate disclosure.

Context

• This was a compensation award with shares withheld for taxes (common practice). It is not a routine open-market sale or purchase that signals trading intent. For retail investors, awards and related tax withholdings are administrative — they reflect compensation delivery rather than a buy/sell decision.