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 Crahan, Patrick M Flexsteel Industries, Inc. P. O. Box 877 Dubuque, IA 52004 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/Day/Year 02/06/2003 5. If Amendment, Date of Original (Month/Day/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other (specify below) Vice President 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 I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security|2. |2A. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | |Trans-|Exec- |Trans | or Disposed of (D) | Securities |ect | Beneficial Ownership | |action|ution |action| | Beneficially |(D)or | | | | | | | | A/| | Owned Following |Indir | | |Date | Date |Code|V| Amount | D | Price | Reported Trans(s)|ect(I)| | ___________________________________________________________________________________________________________________________________| Flexsteel Industries| | | | | | | |63,006 |(D) | | , Inc Common Stock | | | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Flexsteel Industries| | | | | | | |36,161 |(I) |By Wife | , Inc. Common Stock | | | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Flexsteel Industries| | | | | | | |11,482 |(I) |Custodian for Minor Childre| , Inc. Common Stock | | | | | | | | | |n | -----------------------------------------------------------------------------------------------------------------------------------| Flexsteel Industries| | | | | | | |5,628 |(I) |By Flexsteel Industries | , Inc. Common Stock | | | | | | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Flexsteel Industries|12/18/| |W |V|3,825 |(A)| |3,825 |(I) |CoTrustee, M. Crahan Estat| , Inc. Common Stock |02 | | | | | | | | |e | -----------------------------------------------------------------------------------------------------------------------------------| Flexsteel Industries|12/18/| |W |V|25,815 |(A)| |25,815 |(I) |Executor, M.F. Crahan Estat| , Inc. Common Stock |02 | | | | | | | | |e | -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________| Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of |2.Con- |3. |3A. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Derivative |version |Trans- |Deemed|Trans-| rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | Security |or Exer |action | |action| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | |Execu-| | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| |ution | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | | |Date |Expir| | |ficially |Ind| | |tive | | | | | A/|Exer-|ation| Title and Number | |Owned Follow|ire| | |Secu- |(Month/|(Month| | | | D |cisa-|Date | of Shares | |ing Reported|ct | | |rity |Day/ |/Day/ |Code|V| Amount | |ble | | | |Trans- |(I)| | | |Year) |Year) | | | | | | | | |action(s) | | | ___________________________________________________________________________________________________________________________________| Option |10.75 | | | | | | |11/14|11/14|Flexsteel Co| | |700 |(D)| | | | | | | | | |/00 |/10 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |10.30 | | | | | | |11/02|11/02|Flexsteel Co| | |1050 |(D)| | | | | | | | | |/01 |/11 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| Option |15.9250 | | | | | | |12/09|12/09|Flexsteel Co| | |10,750 |(D)| | | | | | | | | |/02 |/12 |mmon Stock | | | | | | -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________| Explanation of Responses: