Flexsteel repurchases ~24% of shares from Bertsch family for $60.2M; director resigns

FLEXSTEEL INDUSTRIES INC

Repurchased 1,279,870 shares at $47.00 each, a 2.5% discount to April 24 closing price.
Total price ~$60.2M, funded with cash and revolver borrowings; closed April 28, 2026.
Shares represent about 24% of outstanding common stock prior to transaction.
Director F. Brooks Bertsch resigned from board effective April 28, not due to disagreement.
Special committee of independent directors approved; KeyBanc and Faegre Drinker advisors.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

F. Brooks Bertsch

Director

FLXS · FLEXSTEEL INDUSTRIES INC

Effective: 2026-04-28
Filed: April 28, 2026, 7:59 PM ET

F. Brooks Bertsch resigned from the Board pursuant to the terms of the Stock Repurchase Agreement.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

F. Brooks Bertsch resigned as Director at FLEXSTEEL INDUSTRIES INC.

Action: resigned
Role: Director

Exact text from the filing

F. Brooks Bertsch resigned from the Board pursuant to the terms of the Stock Repurchase Agreement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FLEXSTEEL INDUSTRIES INC entered into Stock Repurchase Agreement with F. Brooks Bertsch and certain family related entities valued at approximately $60.2 million (effective 2026-04-26).

Action: entry
Agreement: equity purchase
Counterparty: F. Brooks Bertsch and certain family related entities
Value: approximately $60.2 million
Effective: 2026-04-26

Exact text from the filing

On April 26, 2026, Flexsteel Industries, Inc. (the “Company”) entered into a stock repurchase agreement (the “Stock Repurchase Agreement”) with F. Brooks Bertsch, a director of the Company, and certain family related entities listed on Schedule 1 thereto (the “Stockholders”) for the purchase by the Company of 1,279,870 shares of the Company’s common stock, $1.00 par value per share (the “Common Stock”) from the Stockholders in a privately-negotiated transaction at a purchase price of $47.00 per share and for a total purchase price of approximately $60.2 million.

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FLEXSTEEL INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000037472-26-000028

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