Flexsteel (FLXS) VP Stacy Kammes Exercises Options and Sells Shares

What Happened

• Stacy Kammes, VP Talent, Customer Experience at Flexsteel Industries (FLXS), exercised stock options on 2026-09-04 and then sold shares in the open market on 2026-09-08. She acquired 6,451 shares through option exercises (three tranches) with aggregate intrinsic/cost amounts reported of $210,339 (2,286 @ $32.80 = $74,981; 1,548 @ $45.21 = $69,985; 2,617 @ $24.98 = $65,373). To cover exercise price and tax liabilities, 3,436 shares were surrendered/withheld (933, 871, and 1,632 shares) at an average reported withholding price of $80.37 (total ~$276,151). Separately, she sold 2,750 shares in open-market trades on 2026-09-08 for roughly $227,315 (four trades at prices from ~$81.46 to $83.64 per footnote ranges).

Key Details

• Transaction types: M = option exercises (9/4/2026), F = shares withheld for exercise/taxes (9/4/2026), S = open-market sales (9/8/2026).
• Exercise detail (9/4/2026): 2,286 @ $32.80; 1,548 @ $45.21; 2,617 @ $24.98. Total acquired = 6,451 shares (total reported value $210,339).
• Withheld for taxes/exercise (9/4/2026, code F): 933, 871, and 1,632 shares at $80.37 (weighted average) totaling ~$276,151.
• Open-market sales (9/8/2026, code S): 500 @ $81.48; 750 @ $82.11; 750 @ $83.10; 750 @ $83.56 — total 2,750 shares for ~$227,315 (see footnotes for exact price ranges per block).
• Net effect from reported transactions: exercised 6,451 shares → 3,436 shares withheld → 2,750 sold → roughly 265 shares remaining from this exercise (approximate).
• Footnotes: F1–F4 show per-block weighted average sale-price ranges; F5 notes the original options vested in three installments (Jan 2019–Jan 2021).
• Filing timeliness: filing was made 2026-09-08 for transactions on 9/4 and 9/8; no late filing flag noted in the provided data.

Context

• This was an option exercise with share withholding to cover taxes/exercise (common “net/share-withheld” practice) and subsequent open-market sales. The F-coded disposals are not market sales but shares surrendered to satisfy withholding obligations; the S-coded entries are actual public sales. These actions are routine for option exercises and tax settlements and do not, by themselves, indicate management’s view of the company’s prospects.