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SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 		 
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Newlin Timothy Patrick
(Last) (First) (Middle)
P.O. BOX 877
(Street)
DUBUQUE IA 52004
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
FLEXSTEEL INDUSTRIES INC [ FLXS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP-Marketing & Product
3. Date of Earliest Transaction (Month/Day/Year)
01/01/2020
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/01/2020 M 8,334 A (7) 14,607 D
Common Stock 01/01/2020 F 2,883(4)(6) D (7) 11,724 D
Common Stock 01/01/2020 F 558(1)(2) D $19.92 11,166 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (7) 01/01/2020 M 8,334 (4) (4) Common Stock 8,334 (7) 24,817(3)(4)(5) D
Option 12/09/2013 $27.57 12/09/2013 12/09/2023 Common Stock 500 500 D
Option 12/08/2014 $31.06 12/08/2014 12/08/2024 Common Stock 500 500 D
Option 07/01/2015 $43.09 07/01/2015 07/01/2025 Common Stock 464 464 D
Option 09-01-2016 $47.45 09/01/2016 09/01/2026 Common Stock 737 737 D
Option 09/08/2017 $45.21 09/08/2017 09/08/2027 Common Stock 1,105 1,105 D
Option 09/13/2018 $32.8 09/13/2018 09/13/2028 Common Stock 2,286 2,286 D
Option 01/15/2019 $24.98 (8) 01/15/2029 Common Stock 6,020 6,020 D
Explanation of Responses:
1. On 07/01/2019, 4,691 shares of restricted stock were granted. The restricted stock vests in three installments. On January 1, 2020, 33 1/3% vested, on July 1, 2020, 33 1/3% shall vest, and on January 1, 2021, 33 1/3% shall vest. Vested shares will be delivered to the reporting person on these dates of each respective year.
2. Shares withheld to satisfy tax withholding obligations upon vesting of restricted stock.
3. On 07/02/2018, 6,263 restricted stock units were granted. These restricted stock units vest in three installments. On July 1, 2019, 33 1/3% vested, on July 1, 2020, 33 1/3% shall vest, and on July 1, 2021, 33 1/3% shall vest. Vested shares will be delivered to the reporting person on July 1 of each respective year.
4. On 07/01/2019, 25,000 restricted stock units were granted. These restricted stock units vest in three installments. On January 1, 2020, 33 1/3% vested, on July 1, 2020, 33 1/3% shall vest, and on January 1, 2021, 33 1/3% shall vest. Vested shares will be delivered to the reporting person on these dates of each respective year.
5. On 07/19/2019, 3,976 restricted stock units were granted. These restricted stock units vest on June 30, 2022.
6. Shares withheld to satisfy tax withholding obligations upon vesting of restricted stock units.
7. Each restricted stock unit represents a contingent right to receive one share of FLXS common stock.
8. The options vest in three installments. On January 15, 2019, 2,007 options vested, on January 15, 2020, 2,007 options shall vest, and on January 15, 2021, 2,006 options shall vest.
/s/ Dena A. Lang, attorney-in-fact 01/02/2020
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
LIMITED POWER OF ATTORNEY For Executing Forms 3, 4, 5 and 144
The undersigned hereby constitutes and appoints each of Becca Kuhle
and Dena A. Lang, signing singly, as his or her true and lawful
attorney-in-fact, for such period of time that the undersigned is required
to file reports pursuant to Section 16(a) of the Securities Exchange Act of
1934, as amended (the ?Exchange Act?), or Rule 144 of the Securities Act of
1933, as amended (the "Securities Act"), due to his or her affiliation with
Flexsteel Industries, Inc., a Minnesota corporation, unless earlier revoked by
the undersigned in a signed writing delivered to the foregoing
attorneys-in-fact, solely for the purpose of:
1) executing for and on behalf of the undersigned Forms 3, 4, 5
and 144 and any amendments to previously filed forms in accordance
with Section 16(a) of the Exchange Act or Rule 144 of the Securities
Act and the rules thereunder;
2) doing and performing any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete the
execution of any such Forms 3, 4, 5 and 144 and the timely filing
of such form with the United States Securities and Exchange
Commission and any other authority as required by law; and
3) taking any other action of any type whatsoever in connection
with the foregoing which, in the opinion of such attorney-in-fact,
may be of benefit to, in the best interest of or legally required
by the undersigned, it being understood that the documents executed
by such attorney-in-fact on behalf of the undersigned pursuant to this
Limited Power of Attorney shall be in such form and shall contain
such terms and conditions as such attorney-in-fact may approve in his
or her discretion.
The undersigned hereby grants to each such attorney-in-fact full power
and authority to do and perform all and every act and thing whatsoever
requisite, necessary and proper to be done in the exercise of any of
the rights and powers herein granted, as fully to all intents and
purposes as the undersigned could do if personally present, with
full power of substitution or revocation, hereby ratifying and
confirming all that such attorney-in-fact, or his or her substitute
or substitutes, shall lawfully do or cause to be done by virtue of
this Limited Power of Attorney and the rights and powers herein granted.
The undersigned acknowledges that the foregoing attorneys-in-fact, in
serving in such capacity at the request of the undersigned, are not
assuming any of the undersigned's responsibilities to comply with
Section 16 of the Exchange Act or Rule 144 of the Securities Act.

Signed and acknowledged:
/s/ Timothy P. Newlin