FLEXSTEEL (NASDAQ: FLXS) growth chief reports RSU grant, vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
FLEXSTEEL INDUSTRIES INC Chief Growth Officer David Edward Crimmins reported compensation-related equity activity, including new restricted stock units and the vesting of earlier awards. He received a grant of 1,979 restricted stock units (RSUs), each representing one share of FLXS common stock.
On June 30, 2026, previously granted service-based RSUs vested and were exercised into 6,058 shares of common stock, while 2,796 shares were withheld at $74.48 per share to cover tax obligations. Following these transactions, Crimmins directly held 35,950 shares of FLXS common stock. These entries reflect grants, vesting and tax withholding rather than open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,058 shares exercised/converted
Mixed
6 txns
Insider
Crimmins David Edward
Role
Chief Growth Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 1,979 | $0.00 | -- |
| Exercise | Restricted Stock Units | 4,960 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,098 | $0.00 | -- |
| Exercise | Common Stock | 4,960 | $0.00 | -- |
| Exercise | Common Stock | 1,098 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,796 | $74.48 | $208K |
Holdings After Transaction:
Restricted Stock Units — 1,979 shares (Direct, null);
Common Stock — 37,648 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of FLXS common stock. On 7/1/2023, 4,960 restricted stock units were granted. The restricted stock units vested on June 30, 2026. Vesting of service-based restricted stock units granted July 1, 2025, 33 1/3% of which vest on June 30, 2026, June 30, 2027, and June 30, 2028. Award of service-based restricted stock units, 33 1/3% of which vest on June 30, 2027, June 30, 2028, and June 30, 2029.
Key Figures
New RSU grant: 1,979 RSUs
Shares from RSU exercises: 6,058 shares
Tax-withheld shares: 2,796 shares at $74.48
+2 more
5 metrics
New RSU grant
1,979 RSUs
Award to Chief Growth Officer; each RSU equals one FLXS share
Shares from RSU exercises
6,058 shares
Total shares acquired via vested restricted stock units
Tax-withheld shares
2,796 shares at $74.48
Shares delivered to cover tax liability on equity vesting
Post-transaction holdings
35,950 shares
Direct FLXS common stock held after tax-withholding disposition
2023 RSU grant vested
4,960 RSUs
Granted 7/1/2023; vested on June 30, 2026 per footnote
Key Terms
Restricted Stock Units, tax-withholding disposition, derivative security, service-based restricted stock units
4 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of FLXS common stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities."
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative security financial
"Exercise or conversion of derivative security."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
service-based restricted stock units financial
"Vesting of service-based restricted stock units granted July 1, 2025, 33 1/3% of which vest..."
Service-based restricted stock units are promises by a company to give employees shares of stock only after they remain employed for a specified period; the stock is delivered gradually or all at once once the service condition is met. Investors care because these awards affect future share supply and company costs, align employee interests with long-term performance, and can influence dilution and earnings reports when the promised shares are recorded or issued.
FAQ
What equity awards did FLXS Chief Growth Officer David Crimmins receive in this Form 4?
David Crimmins received a grant of 1,979 restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of FLEXSTEEL INDUSTRIES INC (FLXS) common stock, subject to service-based vesting conditions described in the filing’s footnotes.
Are the FLXS transactions by David Crimmins open-market buys or sells?
The transactions are primarily grant, vesting, exercise, and tax-withholding entries, not open-market trades. RSUs were granted and converted into common shares, and 2,796 shares were withheld to cover tax liabilities, so no open-market buying or selling is indicated here.
What do the FLEXSTEEL (FLXS) restricted stock unit footnotes explain?
The footnotes explain that each RSU equals one FLXS share and describe service-based vesting schedules. They note a 4,960-unit grant from July 1, 2023 that vested June 30, 2026, and other grants where one-third vests annually in 2026, 2027, 2028, and later years.