Flexsteel Industries CEO Derek Schmidt Reports 8.4% Stake Following Share Repurchase

On April 30, 2026, Derek P. Schmidt, the President and Chief Executive Officer of Flexsteel Industries, Inc. (FLXS), filed a Schedule 13D reporting an 8.4% beneficial ownership stake in the company. This filing follows a significant corporate event on April 28, 2026, where the Issuer repurchased 1,279,870 shares of Common Stock from members of the Bertsch family. This repurchase reduced the total shares outstanding, causing Schmidt's existing holdings to exceed the 5% disclosure threshold. Schmidt's total beneficial ownership of 341,058.69 shares includes 155,519 shares held directly, approximately 62,000 shares held in retirement accounts, 122,450 shares issuable upon the exercise of options, and 1,080.98 shares held by his wife. The reporting person indicated that the shares were acquired for investment purposes and as part of executive compensation. As CEO and a director, Schmidt may engage in discussions regarding the company's operations, governance, and strategic plans, and may adjust his position based on market conditions and company policies. No transactions were effected by the reporting person in the 60 days preceding the filing.