UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) March 7, 2018
BASSETT FURNITURE INDUSTRIES, INCORPORATED
(Exact name of registrant as specified in its charter)
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VIRGINIA |
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0-209 |
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54-0135270 |
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(State or other jurisdiction of incorporation or organization) |
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(Commission File No.) |
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(I.R.S. Employer Identification No.) |
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3525 FAIRYSTONE PARK HIGHWAY BASSETT, VIRGINIA |
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24055 |
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(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code 276/629-6000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 5.02 |
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
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(d) Director Election
On March 7, 2018, the Board elected Virginia W. Hamlet as a director. Ms. Hamlet was elected to serve until the 2019 Annual Meeting of Stockholders and thereafter if re-elected until her successor is duly elected and qualified. Ms. Hamlet was elected upon the recommendation of the Organization, Compensation and Nominating Committee of the Board. The Board has determined that Ms. Hamlet will serve on the Organization, Compensation and Nominating Committee of the Board. Ms. Hamlet will receive compensation for her Board service as a non-employee director consistent with the Company’s director compensation program as described in the Company’s most recent proxy statement, and the Board has determined that Ms. Hamlet is an independent outside director. Ms. Hamlet is the owner of Hamlet Vineyards which she and her husband founded in 2010. She currently serves on the Board of the Harvest Foundation, and served on the Board of Trustees of Averett University from 2011 to 2015.
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Item 9.01. |
Financial Statements and Exhibits |
| Exhibit 99 | News release issued by Bassett Furniture Industries, Inc. on March 13, 2018 |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BASSETT FURNITURE INDUSTRIES, INCORPORATED |
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Date: March 13, 2018 |
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/s/ J. Michael Daniel |
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J. Michael Daniel |
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Title: Senior Vice President – Chief Financial Officer |
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EXHIBIT INDEX
Description
Exhibit No. 99 News release issued by Bassett Furniture Industries on March 13, 2018.
Exhibit 99
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Bassett Furniture Industries, Inc. |
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J. Michael Daniel, Senior Vice |
| P.O. Box 626 | President and Chief Financial Officer | |
| Bassett, VA 24055 | (276) 629-6614 - Investors | |
| Peter D. Morrison, Vice President of Communications | ||
| For Immediate Release | (276) 629-6387 – Media | |
Bassett Furniture News Release
Bassett Announces Board Appointment
Bassett Furniture Industries, Inc. (BSET) announced that on March 7, 2018, Virginia W. Hamlet was elected a member of its Board of Directors. “We welcome Virginia Hamlet to the Bassett Board of Directors,” said Rob Spilman, Chairman and CEO. “She is a successful entrepreneur with a background in residential design and marketing. She has been a civic leader in our community for many years and we look forward to working with her to advance the fortunes of all of our constituencies.”
After receiving her B.S. degree in architecture from the University of Virginia, Ms. Hamlet owned and operated a residential design business for 13 years. In 2010, she and her husband founded Hamlet Vineyards, which specializes in wine making and private and corporate hospitality. She currently serves on the Board of the Harvest Foundation, and served on the Board of Trustees of Averett University from 2011 to 2015. The Harvest Foundation, serving Martinsville and Henry County, Virginia, researches and responsibly invests in programs and initiatives to address local challenges in health, education, and community vitality.
Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With 94 company- and licensee-owned stores, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett’s retail strategy includes affordable custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. Bassett also maintains its traditional wholesale business with more than 600 accounts in the open market, across the United States and internationally. For more information, visit the Company’s website at bassettfurniture.com. (BSET-E)