SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* SPILMAN ROBERT H JR (Last) (First) (Middle) 3525 FAIRYSTONE PARK HWY P O BOX 626 (Street) BASSETT VA 24055 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol BASSETT FURNITURE INDUSTRIES INC [ BSET ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Pres & Chief Executive Officer
	3. Date of Earliest Transaction (Month/Day/Year) 02/24/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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(1)								36,106.68	D
Common								12,171	I	wife
Common								8,942	I	child-Martha
Common								8,129	I	child-Virginia
Common								4,821	I	child-Rob
Common								13,962	I	Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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)	$26.25	05/04/1994		A		2,000		01/01/1997	05/04/2004	Common	2,000	$26.25	2,000	D
Option(2)	$22.625	05/06/1997		A		80,000		11/06/1997	05/05/2007	Common	80,000	$22.625	80,000	D
Option(3)	$32.25	03/24/1998		A		40,000		11/07/2000	03/23/2008	Common	40,000	$32.25	40,000	D
Option(3)	$14.875	01/18/2000		A		25,556		01/18/2001	01/17/2010	Common	25,556	$14.875	25,556	D
Option(3)	$14.875	01/18/2000		A		25,556		01/18/2002	01/17/2010	Common	25,556	$14.875	25,556	D
Option(3)	$14.875	01/18/2000		A		25,556		01/18/2003	01/17/2010	Common	25,556	$14.875	25,556	D
Option(3)	$14.7	01/15/2002		A		10,000		01/15/2003	01/14/2012	Common	10,000	$14.7	10,000	D
Option(3)	$14.7	01/15/2002		A		10,000		01/15/2004	02/14/2012	Common	10,000	$14.7	10,000	D
Option(3)	$14.7	01/15/2002		A		10,000		01/15/2005	01/14/2012	Common	10,000	$14.7	10,000	D
Option(3)	$21.12	02/24/2004		A		50,000		11/15/2004	02/23/2014	Common	50,000	$21.12	50,000	D

Explanation of Responses:

1. Includes shares acquired under the 2000 Employee Stock Purchase Plan in transactions exempt under Rule 16b-3(a).

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.

	Robert H Spilman Jr	02/26/2004
	** 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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