How Schmidt was paid
$2.5M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Derek P. SchmidtPresident and Chief Executive Officer | $570,000 | $902,990 | $908,010 | $78,195 | $2,459,195 |
| David E. CrimminsVice President of Sales and Product Management | $352,000 | $246,378 | $373,824 | $54,137 | $1,026,339 |
| Michael J. ResslerChief Financial Officer | $325,000 | $252,461 | $287,625 | $25,575 | $890,661 |
What changed and why
- $2.5M$2,459,195 was CEO total compensation in 2025, compared with $1,460,645 in 2024.
- $105K$105,000 signing bonus was provided to Schmidt in restricted stock units.
- 177%177% was the weighted average achievement under the 2025 cash incentive plan.
- 70%70% of cash incentive objectives measured adjusted operating income and 30% measured net sales.
- 140%140% of base salary was Schmidt’s target long-term incentive participation.
- 200%200% of target was the maximum cash incentive and long-term incentive award opportunity.
Other Flexsteel Industries proxy statements
- 2026 proxy statement
Derek P. Schmidt paid $2.5M (flat on the year).
Filed Oct 23, 2026
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.