How Schmidt was paid
$2.5M in total for 2026, 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 | $600,000 | $839,918 | $972,000 | $57,494 | $2,469,412 |
| David E. CrimminsChief Growth Officer | $385,000 | $295,966 | $415,800 | $77,698 | $1,174,463 |
| Michael J. ResslerChief Financial Officer | $340,000 | $254,922 | $306,000 | $23,506 | $924,428 |
What changed and why
- 180%180% of target: fiscal 2026 cash incentives reflected weighted achievement of adjusted operating income and net sales objectives.
- 70%70% of CIP weighting was adjusted operating income and 30% was net sales.
- No option awards were granted in fiscal 2026 or 2025.
- Fiscal 2026 stock awards included three-year performance shares at target and restricted stock units.
- 100%Schmidt’s salary increased to $665,000 and his cash-incentive participation to 100% effective July 1, 2026.
Other Flexsteel Industries proxy statements
- 2025 proxy statement
Derek P. Schmidt paid $2.5M (+68% on the year).
Filed Oct 24, 2025
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.