Companies Flexsteel Industries Inc
Flexsteel Industries (FLXS): executive pay, fiscal 2026
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CEO pay, last three years
- $1,460,645FY2024
- $2,459,195FY2025
- $2,469,412FY2026
CEO total pay was $2,469,412 in fiscal 2026, up from $2,459,195 in fiscal 2025.
FY2026: salary $600,000 · bonus $0 · stock awards $839,918 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Derek Schmidt | $600,000 | $0 | $839,918 | $0 | $972,000 | $0 | $57,494 | $2,469,412 |
| President and Chief Executive Officer | ||||||||
| David Crimmins | 385,000 | 0 | 295,966 | 0 | 415,800 | 0 | 77,698 | 1,174,463 |
| Chief Growth Officer | ||||||||
| Michael Ressler | 340,000 | 0 | 254,922 | 0 | 306,000 | 0 | 23,506 | 924,428 |
| 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.
Three-year trend — total compensation per named executive
| Named executive officer | FY2026 total | FY2025 total | FY2024 total | Δ FY2025→2026 |
|---|---|---|---|---|
| Derek Schmidt | $2,469,412 | $2,459,195 | $1,460,645 | ↑ +10,217 |
| David Crimmins | 1,174,463 | 1,026,339 | 881,347 | ↑ +148,124 |
| Michael Ressler | 924,428 | 890,661 | — | ↑ +33,767 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company's compensation program is designed to align executive officer compensation with performance measures that drive the Company's market value, promote the accomplishment of corporate objectives, and reward the achievement of a high level of corporate performance. The program emphasizes stock awards over options 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 |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2026
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| David Crimmins | RSU | — | — | — | — | — | $118,386 |
| Michael Ressler | RSU | — | — | — | — | — | 101,962 |
| Derek Schmidt | RSU | — | — | — | — | — | 335,967 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| David Crimmins | $118,386 | $0 | $0 | 0.0% |
| Michael Ressler | 101,962 | 0 | 0 | 0.0% |
| Derek Schmidt | 335,967 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2026
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| David Crimmins | RSU | 5,309 | — | $395,414 |
| Michael Ressler | RSU | 5,555 | — | 413,736 |
| Michael Ressler | PSU | 10,756 | — | 801,107 |
| David Crimmins | PSU | 17,050 | — | 1,269,884 |
| Derek Schmidt | RSU | 19,630 | — | 1,462,042 |
| Derek Schmidt | PSU | 43,311 | — | 3,225,803 |
Director compensation
No director compensation table is on file for fiscal year 2026.
Board fee structure and ownership guideline
| Annual cash retainer | $70,000 |
|---|---|
| Annual equity retainer | $100,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 15,000 |
| Stock ownership guideline | $5 |
Peer group, and who names Flexsteel Industries as a peer
Companies that benchmark against FLXS
2 companies name FLXS as a compensation peer
- CULP INCCULPFY2025
- ETHAN ALLEN INTERIORS INCETDFY2026
- HAVERTY FURNITURE COMPANIES INCHVTFY2025
- HOOKER FURNISHINGS CorpHOFTFY2026
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.
Chief executive pay against the peer group
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 Inc | 2026 | Derek Schmidt | $600,000 | $839,918 | $0 | $972,000 | $2,469,412 |
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.
Say-on-pay history and pay ratio
| 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.
Say-on-pay — history, company’s computation
| 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.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (12 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Derek Schmidt. DEF 14A, filed 2026-10-23. Section “Executive Compensation” · page 15. As printed: 2,469,412. View filing ↗
- Section 01, David Crimmins. DEF 14A, filed 2026-10-23. Section “Executive Compensation”. As printed: 1,174,463. View filing ↗
- Section 01, Michael Ressler. DEF 14A, filed 2026-10-23. Section “Executive Compensation”. As printed: 924,428. View filing ↗
- Section 03, David Crimmins RSU. DEF 14A, filed 2026-10-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Ressler RSU. DEF 14A, filed 2026-10-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Derek Schmidt RSU. DEF 14A, filed 2026-10-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-12-16. Item 5.07 · say-on-pay result. As reported: 97.05% (votes for as printed: 3,963,794). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-12-12. Item 5.07 · say-on-pay result. As reported: 90.32% (votes for as printed: 3,577,113). View filing ↗
- Section 06, 2023 vote. Form 8-K, filed 2023-12-19. Item 5.07 · say-on-pay result. As reported: 85.17% (votes for as printed: 3,150,653). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Flexsteel Industries Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-10-23. CEO total compensation as printed in Flexsteel Industries Inc's own proxy. As printed: 2,469,412. View filing ↗