 Flexsteel Industries, Inc., the Company NASDAQ: FLXS today announced that the Company granted Derek P. Schmidt, in connection with his appointment as the Companys Chief Financial Officer and Chief Operating Officer, an option to purchase 78,884 shares of the Companys common stock with a per share exercise price of 9.97, the closing trading price of the Companys common stock on the grant date of April 6, 2020. The stock option vests on April 6, 2023 and has a ten-year term. The stock option was granted outside of the Companys Omnibus Stock Plan in accordance with Nasdaq Listing Rule 5635c4 as an inducement material to Mr. Schmidt entering into employment with the Company. This option grant was previously disclosed, as part of the terms of Mr. Schmidts Letter Agreement dated March 10, 2020, in a Current Report on Form 8-K filed with the Securities and Exchange Commission on March 18, 2020. 