Bassett Furniture Industries
BASSETT FURNITURE INDUSTRIES INC (Form: 4, Received: 04/14/2005 14:38:02)
FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

BASSETT JOHN E III
2. Issuer Name and Ticker or Trading Symbol

BASSETT FURNITURE INDUSTRIES INC [ BSET ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Vice President Global Sourcing
(Last)          (First)          (Middle)

BASSETT FURNITURE INDUSTRIES INC, 3525 FAIRYSTONE PARK HWY
3. Date of Earliest Transaction (MM/DD/YYYY)

4/14/2005
(Street)

BASSETT, VA 24055
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. 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
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common   4/12/2005     S    2000   D $19.90   12705.72   (1) D    
Common   11/24/2004     G    300   A $19.51   3015   I   Wife  
Common   11/24/2004     G    300   A $19.51   3418   I   child John IV  
Common   11/24/2004     G    300   A $19.51   3418   I   child-James  
Common   11/24/2004     G    300   A $19.51   3418   I   child-Hayden  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option   (2) $22.625   5/6/1997        2000       11/7/1997   5/6/2007   Common   2000   $22.625   2000   D    
Option   (3) $32.25   3/24/1998        27628       11/7/2000   3/23/2008   Common   27628   $32.25   27628   D    
Option   (3) $14.875   1/18/2000        6140       1/18/2001   1/17/2010   Common   6140   $14.875   6140   D    
Option   (3) $14.875   1/18/2000        6140       1/18/2002   1/17/2010   Common   6140   $14.875   6140   D    
Option   (3) $14.875   1/18/2000        6140       1/18/2003   1/17/2010   Common   6140   $14.875   6140   D    
Option   (3) $14.70   1/15/2002        2667       1/15/2003   1/14/2012   Common   2667   $14.70   2667   D    
Option   (3) $14.70   1/15/2002        2667       1/15/2004   1/14/2012   Common   2667   $14.70   2667   D    
Option   (3) $14.70   1/15/2002        2666       1/15/2005   1/14/2012   Common   2666   $14.70   2666   D    
Option   (3) $21.12   2/24/2004        12500       11/15/2004   2/23/2014   Common   12500   $21.12   12500   D    

Explanation of Responses:
( 1)  Shares acquired under the Employee Stock Purchase Plan.
( 2)  Granted under the 1993 Long Term Incentive Plan which is a Rule 16b-3 Plan.
( 3)  Granted under the 1997 Employee Stock Plan which is a rule 16b-3 Plan.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BASSETT JOHN E III
BASSETT FURNITURE INDUSTRIES INC
3525 FAIRYSTONE PARK HWY
BASSETT, VA 24055


Vice President Global Sourcing

Signatures
John E Bassett III 4/14/2005
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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