Global Value Investment Corp. Amends Flexsteel Stake Filing

Ticker: FLXS · Form: SC 13D/A · Filed: Aug 28, 2024 · CIK: 37472

Sentiment: neutral

Topics: ownership-change, sec-filing, schedule-13d

Related Tickers: FLXS

TL;DR

Global Value Investment Corp. updated its Flexsteel filing, watch for changes in ownership.

AI Summary

Global Value Investment Corp. filed an amendment (No. 1) to its Schedule 13D on August 28, 2024, regarding its beneficial ownership of Flexsteel Industries, Inc. The filing indicates a change in the reporting person's holdings, though specific details on the percentage change or dollar amounts are not immediately available in this excerpt. The Geygan Group members are also listed as group members in relation to this filing.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy of Flexsteel Industries, Inc., which could impact its stock performance and corporate governance.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in beneficial ownership, which can lead to increased volatility and strategic shifts for the company.

Key Players & Entities

FAQ

What specific changes in beneficial ownership are detailed in Amendment No. 1 to the Schedule 13D filing?

The provided excerpt does not specify the exact percentage or number of shares changed, only that an amendment was filed on August 28, 2024.

Who are the listed group members in this filing?

The listed group members are JAMES P. GEYGAN, JEFFREY R. GEYGAN, KATHLEEN M. GEYGAN, SHAWN G. RICE, and STACY A. WILKE.

What is the CUSIP number for Flexsteel Industries, Inc. common stock?

The CUSIP number for Flexsteel Industries, Inc. common stock is 339382103.

When was the former company, Milwaukee Private Wealth Management, Inc., last known by that name?

The date of name change for Milwaukee Private Wealth Management, Inc. to Global Value Investment Corp. was February 15, 2013.

What is the primary business of Flexsteel Industries, Inc. according to the filing?

Flexsteel Industries, Inc. is classified under the Standard Industrial Classification code 2510, which corresponds to HOUSEHOLD FURNITURE.

Filing Stats: 2,871 words · 11 min read · ~10 pages · Grade level 8.1 · Accepted 2024-08-28 16:15:13

Key Financial Figures

Filing Documents

Identity and Background

Item 2. Identity and Background.

is amended and restated as follows

Item 2 is amended and restated as follows: (a) Name This Statement is filed by: (i) Global Value Investment Corp., a Delaware corporation (“GVIC”); (ii) Jeffrey R. Geygan, a director and controlling shareholder of GVIC; (iii) James P. Geygan, who serves as the chief executive officer and a director of GVIC; (iv) Stacy A. Wilke, who serves as the chief financial officer of GVIC; (v) Kathleen M. Geygan, who serves as a director of GVIC; and (vi) Shawn G. Rice, who serves as a director of GVIC. GVIC, Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Wilke, Ms. Geygan, and Mr. Rice are referred to collectively as the “Reporting Persons.” GVIC serves as investment adviser to managed accounts (collectively, the “Accounts”), and may be deemed to have beneficial ownership over the Common Stock held for the Accounts. Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Wilke, Ms. Geygan, and Mr. Rice each own shares of Common Stock in their individual capacities. These shares may be deemed to be indirectly beneficial owned by GVIC. Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Geygan, and Mr. Rice are the directors of GVIC. Mr. Jeffrey Geygan, Mr. James Geygan and Ms. Wilke are the executive officers of GVIC. As a result of his ownership interest in GVIC, Mr. Jeffrey Geygan is the controlling person of GVIC. As each of the Reporting Persons, directly or indirectly, share the power to vote, or direct the voting of, the Common Stock held for the Accounts, and the power to dispose, or to direct the deposition of, the Common Stock held for the Accounts, each may be deemed to have beneficial ownership over the Common Stock held for the Accounts. (b) Residence of Business Address The address of the principal business and principal office of each of the Reporting Persons is 1433 N. Water Street, Suite 400, Milwaukee, WI 53202. Page 8 of 12 (c) Present Principal Occupation or Employment and the Name, Principal Business and Address of any Corp

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration.

is amended and restated as follows

Item 3 is amended and restated as follows: All of the shares of Common Stock to which this Statement relates were purchased on behalf of the Reporting Persons using the investment capital of the Reporting Persons. Such shares of Common Stock are or may be held from time to time in margin accounts established with their respective brokers or banks, and a portion of the purchase price for the Common Stock may have been obtained through margin borrowing. Common Stock positions held in margin accounts may be pledged as collateral security for the repayment of debit balances in the margin accounts. The aggregate purchase price of the 205,804.5 shares of Common Stock acquired was approximately $4,174,775.21 (excluding commissions).

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

is amended and restated as follows

Item 5 is amended and restated as follows: (a) and (b)The responses of the Reporting Persons to rows 7, 8, 9, 10, 11 and 13 on the cover pages of this Statement are incorporated herein by reference. As of 4:00 p.m., Eastern time, on August 27, 2024, the Reporting Persons beneficially owned 205,804.5 shares of Common Stock, representing approximately 3.99% of the outstanding shares of Common Stock. The percentage in this paragraph relating to beneficial ownership of Common Stock is based on 5,156,287 shares of Common Stock outstanding as of May 1, 2024, as reported in the Form 10-Q for the fiscal quarter ended March 31, 2024, of the Issuer. Page 9 of 12 Mr. Jeffrey Geygan, as a director and controlling shareholder of GVIC; Mr. James Geygan, as an officer and director of GVIC; Ms. Wilke, as an officer of GVIC; Ms. Geygan, as a director of GVIC; and Mr. Rice, as a director of GVIC; may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by GVIC, and may be deemed to be the indirect beneficial owner of such shares. Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Wilke, Ms. Geygan, and Mr. Rice disclaim beneficial ownership of such shares for all other purposes. (c) Except as set forth in Schedule A, none of the Reporting Persons has effected any transactions in the Common Stock in the 60 days prior to the date of this Statement. (d) No other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement. (e) Not applicable. Page 10 of 12

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete, and correct. Dated: August 28, 2024 GLOBAL VALUE INVESTMENT CORP. By: /s/ James P. Geygan Name: James P. Geygan Title: Chief Executive Officer /s/ Jeffrey R. Geygan Jeffrey R. Geygan /s/ James P. Geygan James P. Geygan /s/ Stacy A. Wilke Stacy A. Wilke /s/ Kathleen M. Geygan Kathleen M. Geygan /s/ Shawn G. Rice Shawn G. Rice Page 11 of 12 Schedule A Transactions by the Reporting Persons in the Past 60 Days The following table sets forth all unreported transactions with respect to the Common Stock effected in the last 60 days by or on behalf of the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., Eastern time, on August 27, 2024. Unless otherwise indicated, all such transactions were effected in the open market. Person Effecting the Transaction Transaction Date Nature of Transaction Securities Transacted Price per Share GVIC 07/23/2024 Sale of Common Stock 50 $38.00 (1) GVIC 07/30/2024 Sale of Common Stock 30 $37.26 (1) GVIC 07/30/2024 Sale of Common Stock 355 $33.15 (1) GVIC 08/15/2024 Sale of Common Stock 30 $36.25 (1) Mr. Jeffrey Geygan 08/22/2024 Sale of Common Stock 5 $41.57 (1) GVIC 08/22/2024 Sale of Common Stock 4,109 $41.54 (1) Mr. Jeffrey Geygan 08/23/2024 Sale of Common Stock 400 $41.95 (1) Ms. Kathy Geygan 08/23/2024 Sale of Common Stock 210 $41.95 (1) GVIC 08/23/2024 Sale of Common Stock 34,490 $41.95 (1) Mr. Jeffrey Geygan 08/26/2024 Sale of Common Stock 1,560 $42.23 (1) Mr. James Geygan 08/26/2024 Sale of Common Stock 25 $42.23 (1) GVIC 08/26/2024 Sale of Common Stock 12,115 $42.22 (1) GVIC 08/27/2024 Sale of Common Stock 200 $41.50 (1) ______________________ (1) This

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