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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001166010-02-000005.txt : 20020415
<SEC-HEADER>0001166010-02-000005.hdr.sgml : 20020415
ACCESSION NUMBER:		0001166010-02-000005
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20020315
FILED AS OF DATE:		20020408

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FLEXSTEEL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000037472
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD FURNITURE [2510]
		IRS NUMBER:				420442319
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05151
		FILM NUMBER:		02604415

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 877
		STREET 2:		3400 JACKSON
		CITY:			DUBUQUE
		STATE:			IA
		ZIP:			52004-0877
		BUSINESS PHONE:		3195567730

	MAIL ADDRESS:	
		STREET 1:		3400 JACKSON
		STREET 2:		P.O. BOX 877
		CITY:			DUBUQUE
		STATE:			IA
		ZIP:			52004-0877
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			RICHARDSON JAMES R
	CENTRAL INDEX KEY:			0001166010
<RELATIONSHIP>DIRECTOR

FILING VALUES:
	FORM TYPE:		4

BUSINESS ADDRESS:	
	STREET 1:		PO BOX 877
	CITY:			DUBUQUE
	STATE:			IA
	ZIP:			52004
	BUSINESS PHONE:		5635567730
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.txt
<DESCRIPTION>FORM 4 - 03/15/2002
<TEXT>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   Richardson, James R
   Flexsteel Industries, Inc.
   P. O. Box 877
   Dubuque, IA  52004
   Dubuque
2. Issuer Name and Ticker or Trading Symbol
   Flexsteel Industries, Inc.
   FLXS
3. IRS or Social Security Number of Reporting Person (Voluntary)

4. Statement for Month/Year
   03/15/2002
5. If Amendment, Date of Original (Month/Year)
   03/15/2002
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   (X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
   (specify below)
   Senior V. P. Marketing
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned                                                 |
___________________________________________________________________________________________________________________________________|
1. Title of Security       |2.    |3.    |4.Securities Acquired (A)         |5.Amount of        |6.Dir |7.Nature of Indirect       |
                           | Transaction |  or Disposed of (D)              |  Securities       |ect   |  Beneficial Ownership     |
                           |      |      |                                  |  Beneficially     |(D)or |                           |
                           |      |    | |                  | A/|           |  Owned at         |Indir |                           |
                           | Date |Code|V|    Amount        | D |    Price  |  End of Month     |ect(I)|                           |
___________________________________________________________________________________________________________________________________|
<S>                        <C>    <C>  <C><C>               <C> <C>         <C>                 <C>    <C>
Flexsteel Industries, Inc. |3/15/0|J(1)| |2,598             |(A)|10.50      |165,250            |(D)   |                           |
Common Stock               |2     |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Flexsteel Industries, Inc. |      |    | |                  |   |           |1,332              |(I)   |BY Wife                    |
Common Stock               |      |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Flexsteel Industries, Inc. |      |    | |                  |   |           |4,745              |(I)   |401k Plan                  |
Common Stock               |      |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Flexsteel Industries, Inc. |      |    | |                  |   |           |237,714            |(I)   |Trust                      |
Common Stock               |      |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Flexsteel Industries, Inc. |      |    | |                  |   |           |3386               |(I)   |By Flexsteel Industries    |
Common Stock               |      |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned                                                   |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con-  |3.   |4.    |5.Number of De |6.Date Exer|7.Title and Amount  |8.Price|9.Number    |10.|11.Nature of|
  Security            |version |Transaction | rivative Secu |cisable and|  of Underlying     |of Deri|of Deriva   |Dir|Indirect    |
                      |or Exer |     |      | rities Acqui  |Expiration |  Securities        |vative |tive        |ect|Beneficial  |
                      |cise    |     |      | red(A) or Dis |Date(Month/|                    |Secu   |Securities  |(D)|Ownership   |
                      |Price of|     |      | posed of(D)   |Day/Year)  |                    |rity   |Benefi      |or |            |
                      |Deriva- |     |      |               |Date |Expir|                    |       |ficially    |Ind|            |
                      |tive    |     |      |           | A/|Exer-|ation|   Title and Number |       |Owned at    |ire|            |
                      |Secu-   |     |    | |           | D |cisa-|Date |   of Shares        |       |End of      |ct |            |
                      |rity    |Date |Code|V|  Amount   |   |ble  |     |                    |       |Month       |(I)|            |
___________________________________________________________________________________________________________________________________|
<S>                   <C>      <C>   <C>  <C><C>        <C> <C>   <C>   <C>          <C>     <C>     <C>          <C> <C>
Option                |10.50   |3/15/|J(1)| |(D)        |D  |7/28/|7/28/|Flexsteel Co|9,520  |       |-0-         |(D)|            |
                      |        |02   |    | |           |   |94   |04   |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option                |11.25   |     |    | |           |   |8/16/|8/16/|Flexsteel Co|       |       |8,850       |(D)|            |
                      |        |     |    | |           |   |95   |05   |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option                |10.25   |     |    | |           |   |7/30/|7/30/|Flexsteel Co|       |       |8,500       |(D)|            |
                      |        |     |    | |           |   |96   |06   |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option                |11.4375 |     |    | |           |   |11/07|11/07|Flexsteel Co|       |       |7,600       |(D)|            |
                      |        |     |    | |           |   |/97  |/07  |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option                |10.50   |     |    | |           |   |11/02|11/02|Flexsteel Co|       |       |8,500       |(D)|            |
                      |        |     |    | |           |   |/98  |/08  |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option                |13.25   |     |    | |           |   |12/09|12/09|Flexsteel Co|       |       |9,000       |(D)|            |
                      |        |     |    | |           |   |/99  |/09  |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option                |10.75   |     |    | |           |   |11/14|11/14|Flexsteel Co|       |       |10,000      |(D)|            |
                      |        |     |    | |           |   |/00  |/10  |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option                |10.30   |     |    | |           |   |11/02|11/02|Flexsteel Co|       |       |10,750      |(D)|            |
                      |        |     |    | |           |   |/01  |/11  |mmon Stock  |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
J(1)  Exercise of stock option.  Purchased 9,520 shares @ $10.50 by swap
method. Swapped 6,922 shares at
market value of
$14.44.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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