Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses FLXS in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named FLXS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Derek Schmidt | $570,000 | $0 | $902,990 | $0 | $908,010 | $0 | $78,195 | $2,459,195 |
| President and Chief Executive Officer | ||||||||
| David Crimmins | 352,000 | 0 | 246,378 | 0 | 373,824 | 0 | 54,137 | 1,026,339 |
| Vice President of Sales and Product Management | ||||||||
| Michael Ressler | 325,000 | 0 | 252,461 | 0 | 287,625 | 0 | 25,575 | 890,661 |
| Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Derek Schmidt | $2,459,195 | $1,460,645 | — | +998,550 |
| David Crimmins | 1,026,339 | 881,347 | — | +144,992 |
| Michael Ressler | 890,661 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Michael Ressler | RSU | — | — | — | — | — | $115,974 |
| David Crimmins | PSU | — | — | — | — | — | 147,820 |
| David Crimmins | RSU | — | — | — | — | — | 98,558 |
| Michael Ressler | PSU | — | — | — | — | — | 136,487 |
| Derek Schmidt | RSU | — | — | — | — | — | 424,196 |
| Derek Schmidt | PSU | — | — | — | — | — | 478,794 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Michael Ressler | $115,974 | $136,487 | $0 | 54.1% |
| David Crimmins | 98,558 | 147,820 | 0 | 60.0% |
| Derek Schmidt | 424,196 | 478,794 | 0 | 53.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Derek Schmidt | PSU | 42,244 | — | $1,522,051 |
| Derek Schmidt | RSU | 22,842 | — | 822,997 |
| David Crimmins | PSU | 17,726 | — | 638,668 |
| David Crimmins | RSU | 8,073 | — | 290,870 |
| David Crimmins | RSU | 7,719 | — | 278,116 |
| David Crimmins | PSU | 7,046 | — | 253,867 |
| Derek Schmidt | Option | 13,566 | 12.77 | — |
| David Crimmins | Option | 1,524 | 32.8 | — |
| Derek Schmidt | Option | 108,884 | 9.97 | — |
| David Crimmins | Option | 464 | 43.09 | — |
| David Crimmins | Option | 737 | 47.45 | — |
| David Crimmins | Option | 774 | 45.21 | — |
The Company's compensation program is designed to align executive pay with performance measures that drive market value, promote the accomplishment of corporate objectives, and reward the achievement of high levels of corporate performance. The program emphasizes equity-based compensation to provide a proprietary interest in the Company and assist executives in meeting stock ownership guidelines.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-12-10 | 3,963,794 | 120,529 | 40,032 | 97.05% | Passed |
| 2024 | 2024-12-11 | 3,577,113 | 383,545 | 41,306 | 90.32% | Passed |
| 2023 | 2023-12-13 | 3,150,653 | 548,745 | 133,738 | 85.17% | Passed |
| 2022 | 2022-12-14 | 3,109,191 | 539,767 | 7,397 | 85.21% | Passed |
| 2021 | 2021-12-08 | 4,780,543 | 273,276 | 126,228 | 94.59% | Passed |
| 2020 | 2020-12-09 | 4,992,059 | 267,169 | 35,285 | 94.92% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2025 | 2025-12-10 | 97.05%a |
| 2024 | 2024-12-11 | 90.32%b |
| 2023 | 2023-12-13 | 85.17%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Jeanne McGovernIndependent · Audit and Ethics (Chair) · Nominating and Governance | $80,250 | $96,982 | — | — | — | $177,232 |
| William S. CreekmuirIndependent · Audit and Ethics · Compensation | 77,750 | 96,982 | — | — | — | 174,732 |
| M. Scott CulbrethIndependent · Compensation (Chair) · Nominating and Governance | 77,750 | 96,982 | — | — | — | 174,732 |
| Kathryn P. DicksonIndependent · Compensation · Nominating and Governance (Chair) | 76,500 | 96,982 | — | — | — | 173,482 |
| Jerald K. DittmerNot independent · Not standing for re-election · Departed during FY | 100,000 | 0 | — | — | — | 100,000 |
| F. Brooks BertschIndependent · Audit and Ethics | 34,500 | 48,491 | — | — | — | 82,991 |
| Terence P. CallowayIndependent · Audit and Ethics | 17,250 | 24,229 | — | — | — | 41,479 |
| Thomas M. LevineIndependent · Board Chair · Not standing for re-election | — | — | — | — | — | — |
| Annual cash retainer | $61,500 |
|---|---|
| Annual equity retainer | $97,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 10,000 |
| Stock ownership guideline | $5 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $464,000 |
| Equity awards (grant-date value) | $460,648 |
| All other compensation | $0 |
| Total cost of the board | $924,648 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Flexsteel Industries | 2025 | Derek Schmidt | $570,000 | $902,990 | $0 | $908,010 | $2,459,195 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Derek Schmidt | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation”. As printed: 2,459,195. Filing ↗machine: r2 · c24 · span 318986–318995 |
| 2 | Section 01, David Crimmins | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation”. As printed: 1,026,339. Filing ↗machine: r4 · c24 · span 327803–327812 |
| 3 | Section 01, Michael Ressler | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation”. As printed: 890,661. Filing ↗machine: r6 · c24 · span 336197–336204 |
| 4 | Section 03, Michael Ressler RSU | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 5 | Section 03, David Crimmins PSU | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 6 | Section 03, David Crimmins RSU | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 7 | Section 03, Michael Ressler PSU | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 8 | Section 03, Derek Schmidt RSU | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 340944–340952 |
| 9 | Section 03, Derek Schmidt PSU | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 10 | Section 08, Jeanne McGovern | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: 177,232. Filing ↗machine: span 218068–218230 |
| 11 | Section 08, William S. Creekmuir | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: 174,732. Filing ↗machine: span 219948–220110 |
| 12 | Section 08, M. Scott Culbreth | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: 174,732. Filing ↗machine: span 221555–221717 |
| 13 | Section 08, Kathryn P. Dickson | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: 173,482. Filing ↗machine: span 223433–223595 |
| 14 | Section 08, Jerald K. Dittmer | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: 100,000. Filing ↗machine: span 227658–227819 |
| 15 | Section 08, F. Brooks Bertsch | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: 82,991. Filing ↗machine: span 225054–225215 |
| 16 | Section 08, Terence P. Calloway | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: 41,479. Filing ↗machine: span 226946–227106 |
| 17 | Section 08, Thomas M. Levine | DEF 14A | 2025-10-24 | 0001140361-25-039303 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 18 | Section 06, 2025 vote | Form 8-K | 2025-12-16 | 0001193125-25-320861 | Item 5.07 · say-on-pay result. As reported: 97.05% (votes for as printed: 3,963,794). Filing ↗ |
| 19 | Section 06, 2024 vote | Form 8-K | 2024-12-12 | 0000950170-24-135818 | Item 5.07 · say-on-pay result. As reported: 90.32% (votes for as printed: 3,577,113). Filing ↗ |
| 20 | Section 06, 2023 vote | Form 8-K | 2023-12-19 | 0000950170-23-071480 | Item 5.07 · say-on-pay result. As reported: 85.17% (votes for as printed: 3,150,653). Filing ↗ |
| 21 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 22 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 23 | Section 09b board cost (computed) | Computed | — | computed | Cash 464,000 + equity 460,648 + all other 0 = 924,648, summed across the director compensation table rows.machine: formula: Σ = 924,648 |
| 24 | Flexsteel Industries (subject), Section 10b CEO total | DEF 14A | 2025-10-24 | 0001140361-25-039303 | CEO total compensation as printed in Flexsteel Industries's own proxy. As printed: 2,459,195. Filing ↗machine: r2 · c24 · span 318986–318995 |