Flexsteel Industries (FLXS) Form 4 FLEXSTEEL INDUSTRIES / Derek P Schmidt ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Schmidt Derek P

(Last) (First) (Middle)

P.O. BOX 877

(Street)

DUBUQUE IA 52004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FLEXSTEEL INDUSTRIES INC [ FLXS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CFO & COO

3. Date of Earliest Transaction (Month/Day/Year)
04/06/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. 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 (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/06/2020		A		4,905(1)	A	$11.1	11,595	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	04/06/2020		A		25,185		(3)	(3)	Common Stock	25,185	(2)	25,185	D
Restricted Stock Units	(2)	04/06/2020		A		4,815		(4)	(4)	Common Stock	4,815	(2)	30,000(3)(4)	D
Option 4/6/20	$9.97	04/06/2020		A		108,884		04/06/2020	04/06/2030	Common Stock	108,884	$9.97	108,884(5)	D

Explanation of Responses:

1. On 4/6/20, 4,905 shares of restricted stock was granted. The restricted shares vest in two installments. On July 1, 2020, 2,453 shares shall vest and on January 1, 2021, 2,452 shares shall vest.

2. Each restricted stock unit represents a contingent right to receive one share of FLXS common stock.

3. On 4/6/20, 25,185 restricted stock units were granted. The restricted stock units vest in two installments. On July 1, 2020, 12,593 shares shall vest and on January 1, 2021, 12,592 shares shall vest.

4. On 4/6/20 4,815 restricted stock units were granted. These restricted stock units vest on June 30, 2022.

5. On 4/6/20 108,884 options were issued. These options shall vest on April 6, 2023.

	/s/ Doa Yang, attorney-in-fact for Mr. Schmidt	04/17/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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