UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). 1. Name and Address of Reporting Person Lauritsen, Kenneth B Flexsteel Industries, Inc. P. O. Box 877 Dubuque, IA 52004 2. Issuer Name and Ticker or Trading Symbol Flexsteel Industries, Inc. FLXS 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year 12/09/2002 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other (specify below) President & C.E.O. 7. Individual or Joint/Group Filing (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person

___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| Flexsteel Industries, Inc. | | | | | | |78,410 |(D) | | -----------------------------------------------------------------------------------------------------------------------------------| Flexsteel Industries, Inc. | 12/09/| 401k| V|710 | |Various |34,~~452~~162 |(I) |401k plan | |02 | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Flexsteel Industries, Inc. |~~08/30/~~ |J | |~~6160~~ |~~(A)~~ |~~13.23~~ |11,884 |(I) |By Flexsteel Industries | ~~|02 | | | | | | | | |~~ -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| Option |10.50 | | | | | |7/28/|7/28/|Flexsteel Co| | |-0- |(D)| | | | | | | | |94 |04 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |11.25 | | | | | |8/16/|8/16/|Flexsteel Co| | |8,850 |(D)| | | | | | | | |95 |05 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |10.25 | | | | | |7/30/|7/30/|Flexsteel Co| | |-0- |(D)| | | | | | | | |96 |06 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |11.4375 | | | | | |11/07|11/07|Flexsteel Co| | |8,725 |(D)| | | | | | | | |/97 |/07 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |1013.5025 | | | | | |1112/0209|1112/0209|Flexsteel Co| | |~~-0-~~12,000 |(D)| | | | | | | | |/9899 |/0809 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |1310.2575 | | | | | |1211/0914|1211/0914|Flexsteel Co| | |1214,000 |(D)| | | | | | | | |/9900 |/0910 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |10.7530 | | | | | |11/1402|11/1402|Flexsteel Co| | |145,~~000~~300 |(D)| | | | | | | | |/0001 |/1011 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |1015.309250 | 12/09|J* | V|(A) |A |1112/0209|1112/0209|Flexsteel Co|15,000 | |515,~~300~~000 |(D)| | | |/02 | | | | |/0102 |/1112 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|

Explanation of Responses: 401k Plan Shares beneficially owned as of Dec 9, 2002 through participation in the Company's 401k plan. J* Granted pursuant to the Flexsteel Industries, Inc. 1999 Stock Option Plan.

Filing Compare · LAURITSEN KENNETH B