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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
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BASSETT FURNITURE INDUSTRIES INC (Name of Issuer) |
Common Stock, par value $5.00 per share (Title of Class of Securities) |
(CUSIP Number) |
Bradley L. Hasselwander Auto Services Company, Inc., 1793 HWY 201 N Mountain Home, AR, 72653 (870) 425-8330 Pierce G. Hunter Kutak Rock LLP, 124 West Capitol Avenue, Suite 2000 Little Rock, AR, 72201 (501) 975-3000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
10/26/2026 (Date of Event Which Requires Filing of This Statement) |
SCHEDULE 13D
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| CUSIP No. |
| 1 |
Name of reporting person
Auto Services Company, Inc. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
 (b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
ARKANSAS
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
756,317.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
8.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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| CUSIP No. |
| 1 |
Name of reporting person
ASC Holding Company, Inc. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ARKANSAS
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
756,317.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
8.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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| CUSIP No. |
| 1 |
Name of reporting person
Bradley L. Hasselwander | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
UNITED STATES
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
756,317.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
8.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
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| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Common Stock, par value $5.00 per share | |
| (b) | Name of Issuer:
BASSETT FURNITURE INDUSTRIES INC | |
| (c) | Address of Issuer's Principal Executive Offices:
3525 Fairystone Park Highway, Bassett,
VIRGINIA
, 24055. | |
Item 1 Comment:
This Amendment No. 3 to Schedule 13D (this "Amendment") supplements and amends the Schedule 13D filed with the Securities and Exchange Commission on May 6, 2024 by Auto Services Company, Inc., an Arkansas corporation ("ASC"), ASC Holding Company, Inc., an Arkansas corporation ("ASC Holding"), and Bradley L. Hasselwander, an individual ("Hasselwander"), as amended by Amendment No. 1 to Schedule 13D filed by ASC, ASC Holding and Hasselwander on June 18, 2024 and Amendment No. 2 to Schedule 13D filed by ASC, ASC Holding and Hasselwander on June 28, 2024 (as amended, the "Schedule 13D"). Each of the foregoing is referred to herein as a "Reporting Person" and collectively as the "Reporting Persons." This Amendment relates to the Common Stock, par value $5.00 per share (the "Common Stock"), of Bassett Furniture Industries, Incorporated, a Virginia corporation (the "Issuer"). The principal executive offices of the Issuer are located at 3525 Fairystone Park Highway, Bassett, Virginia 24055.
All capitalized terms used herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Except as amended and supplemented by this Amendment, the Schedule 13D is unmodified. | ||
| Item 4. | Purpose of Transaction | |
Item 4 of the Schedule 13D is hereby amended and supplemented to add the following:
On October 26, 2026, ASC and the Issuer entered into a Share Repurchase Agreement (the "Repurchase Agreement"), pursuant to which ASC agreed to sell, and the Issuer agreed to repurchase, 300,000 shares of Common Stock (the "Repurchased Shares") in a privately negotiated transaction (the "Repurchase"). Pursuant to the Repurchase Agreement, the purchase price per Repurchased Share is equal to the Nasdaq Official Closing Price of the Common Stock on October 26, 2026 of $22.27, less a discount of one percent (1%), or $22.0473 per share, for an aggregate purchase price of $6,614,190.00. The Repurchase Agreement contains customary representations, warranties and covenants of ASC and the Issuer, and provides that the representations and warranties survive the closing for twelve (12) months.
The foregoing description of the Repurchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Repurchase Agreement, a copy of which is filed as Exhibit 2 hereto and is incorporated herein by reference.
ASC entered into the Repurchase Agreement in order to dispose of a portion of its position in the Common Stock in a privately negotiated transaction. Following the closing of the Repurchase, if consummated, the Reporting Persons will hold the remaining shares of Common Stock reported herein for investment purposes. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and, depending on market conditions, the price and availability of shares of Common Stock, the Issuer's business and prospects and other factors, may acquire additional shares of Common Stock or dispose of some or all of the shares of Common Stock beneficially owned by them, in each case in any manner permitted by law. Except as set forth herein, none of the Reporting Persons currently has any plans or proposals that relate to or would result in any of the matters described in clauses (a) through (j) of Item 4 of Schedule 13D, although the Reporting Persons may formulate such plans or proposals in the future, subject to applicable law. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | Item 5 of the Schedule 13D is hereby amended and restated in its entirety to read as follows:
(a) and (b) The information relating to the beneficial ownership of Common Stock by the Reporting Persons set forth in Rows 7 through 13 of each cover page hereto is incorporated by reference. As of the date of this Amendment, ASC is the beneficial owner of 756,317 shares of Common Stock, constituting approximately 8.74% of outstanding Common Stock, which includes the Repurchased Shares that remain subject to the Repurchase Agreement. Because it is the parent holding company of ASC, ASC Holding may be deemed to have the shared power to vote or direct the vote, and the shared power to dispose or direct the disposition, of all shares beneficially owned by ASC. Because he is the controlling stockholder of ASC Holding, Bradley L. Hasselwander may be deemed to have the shared power to vote or direct the vote, and the shared power to dispose or direct the disposition, of all shares beneficially owned by ASC. The information required by Item 2 with respect to each person with whom such power is shared is set forth in Item 2 of the Schedule 13D and is incorporated herein by reference. None of the Reporting Persons has the right to acquire any additional shares of Common Stock. The foregoing ownership percentages are calculated based on 8,651,361 shares of Common Stock of the Issuer issued and outstanding as of September 24, 2026, as set forth in the Issuer's Quarterly Report on Form 10-Q for the quarter ended August 29, 2026 filed with the Securities and Exchange Commission on September 30, 2026.
None of the Reporting Persons or, to the knowledge of the Reporting Persons, any of the other persons listed in Item 2(a)-(c) of the Schedule 13D beneficially owns any other securities of the Issuer. | |
| (b) | (a) and (b) The information relating to the beneficial ownership of Common Stock by the Reporting Persons set forth in Rows 7 through 13 of each cover page hereto is incorporated by reference. As of the date of this Amendment, ASC is the beneficial owner of 756,317 shares of Common Stock, constituting approximately 8.74% of outstanding Common Stock, which includes the Repurchased Shares that remain subject to the Repurchase Agreement. Because it is the parent holding company of ASC, ASC Holding may be deemed to have the shared power to vote or direct the vote, and the shared power to dispose or direct the disposition, of all shares beneficially owned by ASC. Because he is the controlling stockholder of ASC Holding, Bradley L. Hasselwander may be deemed to have the shared power to vote or direct the vote, and the shared power to dispose or direct the disposition, of all shares beneficially owned by ASC. The information required by Item 2 with respect to each person with whom such power is shared is set forth in Item 2 of the Schedule 13D and is incorporated herein by reference. None of the Reporting Persons has the right to acquire any additional shares of Common Stock. The foregoing ownership percentages are calculated based on 8,651,361 shares of Common Stock of the Issuer issued and outstanding as of September 24, 2026, as set forth in the Issuer's Quarterly Report on Form 10-Q for the quarter ended August 29, 2026 filed with the Securities and Exchange Commission on September 30, 2026.
None of the Reporting Persons or, to the knowledge of the Reporting Persons, any of the other persons listed in Item 2(a)-(c) of the Schedule 13D beneficially owns any other securities of the Issuer. | |
| (c) | (c) Except for the contemplated Repurchase described in Item 4, which is incorporated herein by reference, none of the Reporting Persons has effected any transactions in the Common Stock during the past 60 days. | |
| (d) | (d) No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds of sale of, any of the Common Stock beneficially owned by the Reporting Persons. | |
| (e) | (e) Not applicable. | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
Item 6 of the Schedule 13D is hereby amended and supplemented to add the following: The information set forth in Item 4 of this Amendment with respect to the Repurchase Agreement is incorporated herein by reference. A copy of the Repurchase Agreement is filed as Exhibit 2 hereto. Except as described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Persons or, to their knowledge, any of the persons listed in Item 2, or between such persons and any other person, with respect to any securities of the Issuer. | ||
| Item 7. | Material to be Filed as Exhibits. | |
Item 7 of the Schedule 13D is hereby amended and supplemented to add the following exhibits:
Exhibit 1: Joint Filing Agreement, dated as of October 28, 2026, by and among the Reporting Persons (filed herewith).
Exhibit 2: Share Repurchase Agreement, dated as of October 26, 2026, by and between Auto Services Company, Inc. and Bassett Furniture Industries, Incorporated (filed herewith). Certain personal information has been redacted from Exhibit 2 pursuant to Item 601(a)(6) of Regulation S-K. | ||
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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Exhibit 1
AGREEMENT AS TO JOINT FILING
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing on behalf of each of them of a statement on Schedule 13D, and any amendments thereto, with respect to the Common Stock, par value $5.00 per share of Bassett Furniture Industries, Incorporated, and that this agreement be included as an exhibit to such filing and any amendment thereof.
This agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same agreement.
IN WITNESS WHEREOF, each of the undersigned hereby executes this agreement as of October 28, 2026.
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AUTO SERVICES COMPANY, INC.
By: /s/ Bradley L. Hasselwander Name: Bradley L. Hasselwander Title: President and CEO
ASC HOLDING COMPANY, INC.
By: /s/ Bradley L. Hasselwander Name: Bradley L. Hasselwander Title: President and CEO
/s/ Bradley L. Hasselwander Bradley L. Hasselwander |
Exhibit 2
SHARE REPURCHASE AGREEMENT
This Share Repurchase Agreement (this “Agreement”) is entered into as of October 26, 2026 (the “Effective Date”), by and between Auto Services Company, Inc., an Arkansas corporation (the “Seller”), and Bassett Furniture Industries, Incorporated, a Virginia corporation (the “Company”). The Seller and the Company are each a “Party” and together the “Parties.”
RECITALS
A. The Seller owns shares of the Company’s common stock, par value $5.00 per share (the “Common Stock”), which is listed on The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “BSET.”
B. The Seller wishes to sell, and the Company wishes to repurchase, certain shares of Common Stock on the terms set out in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises below and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:
1. SALE AND PURCHASE OF SHARES
1.1 Shares. On the terms of this Agreement, the Seller will sell, assign and transfer to the Company, and the Company will purchase from the Seller, 300,000 shares of Common Stock (the “Shares”), free and clear of all Liens (defined below).
1.2 Purchase Price. The purchase price per Share (the “Per Share Price”) equals the Closing Price on the Pricing Date, less a discount of one percent (1%) (the “Discount”). Stated as a formula: Per Share Price = Closing Price x (1 - Discount). The total purchase price (the “Purchase Price”) equals the Per Share Price multiplied by the number of Shares, rounded to the nearest whole cent.
1.3 Definitions.
(a) “Closing Price” means the Nasdaq Official Closing Price of the Common Stock on the Pricing Date, as reported by Nasdaq (or, if not so reported, by Bloomberg L.P.).
(b) “Pricing Date” means October 26, 2026, or such other trading day as the Parties agree in writing. If Nasdaq is closed on that date, or trading in the Common Stock is halted for any part of that day, the Pricing Date will be the next full trading day, subject to the outside date in Section 2.5. Neither Party may otherwise change the Pricing Date unilaterally. Each Party agrees not to engage in any transaction or conduct intended to manipulate the Closing Price.
(c) “Liens” means any lien, pledge, security interest, claim, option, right of first refusal or other encumbrance.
1.4 Adjustments. If the Company effects a stock split, reverse split, stock dividend or similar change in its Common Stock between the Pricing Date and the Closing, the number of Shares and the Per Share Price will be equitably adjusted so the Purchase Price is unchanged.
1.5 Price Confirmation and Dividends. Before Closing, the Company will deliver a written calculation identifying the source Closing Price, Discount, number of Shares and total Purchase Price, for confirmation by the Seller. The Per Share Price will be reduced by a cash dividend or distribution per Share with an ex-dividend date after the Pricing Date and on or before Closing only to the extent the Seller is entitled to receive and retain that dividend or distribution. No adjustment will duplicate a dividend adjustment already reflected in the Closing Price or an adjustment under Section 1.4. The settlement statement will identify any adjustment and the recipient of any dividend or distribution spanning pricing and settlement.
2. CLOSING
2.1 Closing Date. The closing of the purchase and sale of the Shares (the “Closing”) will take place remotely on the first trading day after the Pricing Date, or on another date the Parties agree in writing (the “Closing Date”).
2.2 Seller Deliveries. At least one business day before the Closing Date, the Seller will provide the broker and account information reasonably required to implement the settlement procedure agreed under Section 2.3, including the applicable DTC participant and DWAC control information when available. The Seller will cause its broker to deliver the Shares only against payment under that procedure. The Seller will deliver customary transfer documents reasonably required by the Transfer Agent and identified before Closing, provided those documents do not impose additional substantive representations, releases, indemnities or other obligations on the Seller without the Seller’s written consent.
2.3 Company Deliveries and Payment. Before Closing, the Parties, the Seller’s broker and Equiniti Trust Company, LLC, or the Company’s actual transfer agent confirmed in writing (the “Transfer Agent”), will agree in writing on delivery-versus-payment procedures. If simultaneous delivery-versus-payment is not operationally available, the Parties will use a mutually acceptable independent escrow or settlement agent under written instructions, with the Company depositing the full Purchase Price in immediately available funds before the Seller releases the Shares. The Company will pay the Purchase Price by wire transfer to the account designated separately in writing by the Seller, without setoff, counterclaim or deduction except withholding required by law under Section 5.9. Delivery and payment are concurrent conditions. The Company will deliver instructions in the form of Exhibit A, acknowledged by the Transfer Agent, prohibiting cancellation or retirement until the Seller or its receiving broker confirms receipt of the full amount due. After that confirmation, the Shares will be cancelled and retired and will not be held as treasury shares. The written settlement instructions will provide for return of any undelivered Shares and unreleased funds if Closing fails. A DWAC withdrawal alone does not satisfy the payment condition.
2.4 Conditions. Each Party’s obligation to close is subject to (a) the other Party’s representations being true and correct in all material respects at the Closing, except that representations already qualified by materiality must be true and correct as written, (b) the other Party having performed its obligations due at or before Closing, and (c) no law, order or injunction prohibiting the transaction. The Seller’s obligation to deliver the Shares is also subject to confirmation that the payment and settlement arrangements in Section 2.3 are in place. The Company’s obligation is not subject to obtaining financing. A market-price change alone does not excuse either Party’s performance.
2.5 Termination. Either Party may terminate this Agreement by written notice if the Closing has not occurred by October 28, 2026. If the Company fails to make payment when due while the Seller is ready, willing and able to perform, the Seller may withhold delivery and terminate by written notice.
3. REPRESENTATIONS AND WARRANTIES
3.1 Seller. The Seller represents and warrants to the Company that:
(a) the Seller has full power and authority to enter into and perform this Agreement, and this Agreement is a valid and binding obligation of the Seller;
(b) the Seller is the beneficial owner of the Shares, directly or through the broker or nominee identified in the settlement instructions, has full authority to direct their transfer, and will transfer good and valid title at Closing, free and clear of all Liens; the Seller does not represent that it is the registered holder of Shares held in street name;
(c) the Seller’s execution and performance of this Agreement do not violate any agreement, order or law binding on the Seller; and
(d) the Seller is a sophisticated investor, has had the opportunity to consult its own legal, tax and financial advisers, and has made its own decision to sell the Shares in reliance on the Company’s express representations, warranties and covenants in this Agreement. This acknowledgment does not waive any claim preserved by Section 4.1.
3.2 Company. The Company represents and warrants to the Seller that:
(a) the Company is duly organized and in good standing, and has full corporate power and authority to enter into and perform this Agreement;
(b) this Agreement has been duly authorized by all necessary corporate action and is a valid and binding obligation of the Company; and
(c) the repurchase does not violate the Company’s organizational documents, any material agreement binding on the Company (including any credit agreement restriction on share repurchases), or applicable law; all required corporate approvals have been obtained and remain effective; the Company has sufficient lawfully available funds to pay the Purchase Price; and, immediately before and after giving effect to the repurchase, the Company satisfies the capital and solvency requirements applicable to the repurchase under the law of its jurisdiction of incorporation.
3.3 Survival. The representations and warranties in this Section 3 survive the Closing for 12 months. Covenants survive for their stated duration or until fully performed. A contractual claim described in reasonable detail in written notice before the applicable survival period expires survives until finally resolved. No contractual survival period or limitation in this Agreement shortens any nonwaivable statutory limitation period or limits claims for fraud or intentional concealment. The payment obligation survives until fully satisfied.
4. SECURITIES LAW MATTERS
4.1 Reliance and Preservation of Rights. The Seller may rely on the Company’s express representations, warranties and covenants in this Agreement. The Seller does not waive any claim for fraud, intentional concealment, breach of this Agreement or violation of applicable securities law, and nothing in this Agreement limits any right that cannot lawfully be waived. No acknowledgment of sophistication or independent evaluation constitutes consent to an unlawful purchase or sale or a release of the Company’s disclosure obligations. This Agreement does not provide immunity from SEC enforcement or create a Rule 10b5-1 trading plan or affirmative defense merely by being signed.
4.2 Private Transaction and Reporting. The Parties intend the sale to be a privately negotiated transaction and not a sale on Nasdaq. Each Party remains responsible for its own legal compliance and required filings, including, as applicable, a Schedule 13D or 13G amendment or Form 4 for the Seller and periodic repurchase disclosures for the Company. Each Party may make legally required filings, attach this Agreement where required and communicate with regulators without the other Party’s consent. No Party assumes the other’s filing obligation unless separately agreed in writing.
4.3 Public Disclosure and Information. If a fact arises before Closing that makes a Company representation inaccurate, the Company will promptly advise the Seller’s designated counsel and, where needed to avoid transmitting material nonpublic information, provide notice of a compliance issue without disclosing its substance. The Parties will not proceed with a transaction prohibited by securities law. No release or non-reliance provision overrides these obligations.
5. GENERAL PROVISIONS
5.1 Expenses. Each Party pays its own advisory costs and expenses, except as otherwise provided in this Agreement. The Company pays all Transfer Agent, and any excise tax imposed on the Company with respect to the repurchase. Those Company expenses and taxes will not reduce the Purchase Price. The Seller pays all, escrow and settlement-agent fees.
5.2 Further Assurances. Each Party will sign and deliver customary further documents reasonably needed to complete the transaction consistently with this Agreement. Neither Party is required by this Section to accept additional substantive representations, releases, indemnities or other obligations not expressly provided in this Agreement.
5.3 Entire Agreement; Amendment. This Agreement is the entire agreement of the Parties on its subject matter and supersedes all prior understandings. It may be amended only in a writing signed by both Parties.
5.4 Assignment. Neither Party may assign this Agreement without the other Party’s prior written consent.
5.5 Governing Law and Forum. This Agreement is governed by the laws of the Commonwealth of Virginia, without regard to its conflict-of-laws rules, subject to applicable federal securities law. The Parties submit to the exclusive jurisdiction of the state courts located in Henry County, Virginia, and the United States District Court for the Western District of Virginia, as applicable to the claim and subject-matter jurisdiction, and waive objections based on personal jurisdiction or inconvenient forum. Nothing in this Section requires a claim within exclusive federal jurisdiction to be brought in state court.
5.6 Notices. Notices must be in writing and delivered by hand, overnight courier or email to the addresses on the signature page, as updated by written notice. Hand-delivered notices are effective on receipt; overnight-courier notices on documented delivery; and email notices when the recipient acknowledges receipt by nonautomated reply. Wire instructions and changes to them must be independently verified by telephone using a previously verified contact number and will not be effective solely by email.
5.7 Counterparts. This Agreement may be signed in counterparts, including by electronic signature or PDF, each of which is an original and all of which together are one instrument.
5.8 Breach and Remedies. Neither Party may recover twice for the same loss. Remedies are cumulative. In an action to enforce this Agreement, the prevailing Party may recover reasonable attorneys’ fees and costs to the extent permitted by law.
5.9 Tax Cooperation and Withholding. Each Party is responsible for its own income taxes. The Parties will reasonably cooperate on information reporting and provide information necessary to evaluate the redemption under Sections 302 and 318 of the Internal Revenue Code. No Party guarantees the Seller’s tax treatment. The Company may withhold only amounts required by law, will give the Seller advance written notice of the legal basis and calculation when reasonably practicable, will cooperate with lawful measures to reduce or eliminate withholding, and will promptly remit withheld amounts to the proper authority and supply evidence of remittance. Amounts properly withheld and remitted count as payment only to the extent of that remittance.
5.10 Severability. An invalid or unenforceable provision will be limited or severed to the extent permitted by law without impairing the remaining provisions, unless doing so would materially defeat the transaction’s essential economic terms. Nothing in this Section validates an unlawful transaction.
IN WITNESS WHEREOF, the Parties have signed this Agreement as of the Effective Date.
[Signature page follows]
SELLER:
Bassett Furniture Industries, Incorporated
By: /s/ J. M. Daniel
Name: J. Michael Daniel
Title: Senior Vice President and Chief Financial Officer
Address: P.O. Box 626, Bassett VA 24055
Email: [****]
COMPANY:
Auto Services Company, Inc.
By: /s/ Brad Hasselwander
Name: Brad Hasselwander
Title: President, CEO
Address: 1793 Hwy 201N, Mountain Home AR 72653
Email: [****]
EXHIBIT A
Form of Transfer Agent Authorization Letter
[Company Letterhead]
October 27, 2026
Equiniti Trust Company, LLC
1110 Centre Pointe Curve, Suite 101
Mendota Heights, MN 55120
Ladies and Gentlemen:
Equiniti Trust Company, LLC, or the actual Transfer Agent identified below, is authorized to receive the following shares of common stock, par value $5.00 per share (Nasdaq: BSET), of Bassett Furniture Industries, Incorporated (the “Company”), solely under the written delivery-versus-payment or escrow settlement instructions agreed by the Company, Seller, Seller’s broker and any settlement agent:
Settlement/DWAC Date: October 27, 2026
Broker Name: Fidelity
Broker DTC Participant Number: 0226
Total Number of Shares: 300,000
The shares are being repurchased by the Company from Auto Services Company, Inc. under a Share Repurchase Agreement dated October 26, 2026. Do not cancel or retire the shares upon receipt alone. Cancellation and retirement are authorized only after the Seller or its receiving broker confirms in writing receipt of the full amount due under the Agreement and the agreed settlement instructions. Before that confirmation, hold or process the shares only as those instructions permit. If Closing does not occur, return any undelivered shares as required by those instructions. A DWAC acceptance, a Company payment instruction or an unconfirmed wire notice is not confirmation that the Seller has received payment. These restrictions control over any inconsistent cancellation instruction.
Sincerely,
________________________________
Name: J. Michael Daniel
Title: Senior Vice President and Chief Financial Officer
Authorized Officer of the Company
Acknowledged and agreed by the Transfer Agent solely as to the settlement and cancellation restrictions above:
Transfer Agent legal name: Equiniti Trust LLC
By: ______________________________ Date: __________________
Name and title: Chris Hall, Relationship Manager