Flexsteel modifies LTIP goals for FY2022 due to COVID-19, sets new FY2024 plan

FLEXSTEEL INDUSTRIES INC

FY2022 Cash Incentive Plan awards based on single 12-month period (July 2021-June 2022); payout after year-end results.
LTIP third-year objectives for period ending June 30, 2022 revised because COVID-19 and supply chain disruptions made original growth rates unattainable.
New LTIP for three years ending June 30, 2024 uses 3-year cumulative performance objective with payout at end of third year.
Committee states modifications aim to align executive compensation with long-term shareholder value at acceptable risk.

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