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
Monaghan, Edward J
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/Year
08/31/2002
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive V.P. & C.O.O.
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. |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)| |
___________________________________________________________________________________________________________________________________|
Flexsteel Industries, Inc. | | | | | | |56,828 |(D) | |
Common Stock | | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Flexsteel Industries, Inc. | | | | | | |40,422 |(I) |By Wife |
Common Stock | | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Flexsteel Industries, Inc. | | | | | | |22,715 |(I) |401k Plan |
Common Stock | | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Flexsteel Industries, Inc. |8/30/0|J | |4164 |(A)|13.23 |8,029 |(I) |By Flexsteel Industries |
Common Stock |2 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
___________________________________________________________________________________________________________________________________
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)| |
___________________________________________________________________________________________________________________________________|
Option |10.50 | | | | | |7/28/|7/28/|Flexsteel Co| | |-0- |(D)| |
| | | | | | |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| | |-0- |(D)| |
| | | | | | |96 |06 |mmon Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Option |11.4375 | | | | | |11/07|11/07|Flexsteel Co| | |8,300 |(D)| |
| | | | | | |/97 |/07 |mmon Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Option |10.50 | | | | | |11/02|11/02|Flexsteel Co| | |4,500 |(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| | |1,050 |(D)| |
| | | | | | |/01 |/11 |mmon Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
Explanation of Responses:
J Shares received through the Management Incentive Plan and held in a
Voluntary Deferred Compensation Plan.