Item 1.01. Entry into a Material Definitive Agreement.

On August 28, 2020, Flexsteel Industries, Inc. (the "Company") entered into a new two-year secured $25 million revolving line of credit with Dubuque Bank and Trust Company. The revolving line of credit matures on August 28, 2022. Any amounts outstanding will bear interest of 1.50% plus LIBOR, subject to a floor of 3.00%. The revolving line of credit is secured by essentially all of the Company's assets, excluding real property and requires the Company maintain compliance with certain financial and non-financial covenants. The revolving line of credit will be used for the Company's working capital needs. As of August 31, 2020, there were no outstanding amounts under this revolving line of credit.

The credit agreement, revolving line of credit note, and security agreement related to this revolving line of credit are attached to this Current Report on Form 8-K as exhibits 10.1, 10.2 and 10.3.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits

Exhibit No. Description

   10.1       Credit Agreement dated August 28, 2020 between Flexsteel
            Industries, Inc. and Dubuque Bank and Trust Company.
   10.2       Revolving Line of Credit Note dated August 28, 2020 between
            Flexsteel Industries, Inc. and Dubuque Bank and Trust Company.
   10.3       Security Agreement dated August 28, 2020 between Flexsteel
            Industries, Inc. and Dubuque Bank and Trust Company.

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