secwatch.observer — SEC 8-K summary
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Issuer:     FLEXSTEEL INDUSTRIES INC (FLXS)
CIK:        0000037472
Form:       8-K
Filed at:   2021-08-18T23:59:59+00:00
Accession:  0000037472-21-000019
Event type: other
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/37472/000003747221000019/0000037472-21-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/37472/000003747221000019/flxs-20210813x8k.htm
  HTML page:      https://secwatch.observer/filing/0000037472-21-000019

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