Bassett Furniture (BSET) investors approve board, pay and ESPP share increase

Rhea-AI Filing Summary

Bassett Furniture Industries, Inc. held its 2026 annual shareholder meeting on March 11. The company had 8,686,117 common shares outstanding as of the record date, each with one vote. All director nominees, including Robert H. Spilman Jr. and eight other directors, were elected with strong majority support.

Shareholders also approved three key proposals. They ratified Grant Thornton LLP as the independent registered public accounting firm, approved the company’s executive officer compensation on an advisory basis, and authorized an increase of 200,000 shares available under the employee stock purchase plan.

8-K Event Classification

2 items: 5.07, 9.01

2 items

Item 5.07 Submission of Matters to a Vote of Security Holders Governance

Results of a shareholder vote on proposals at an annual or special meeting.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

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Accepted by SEC EDGAR 03/12/2026 - 03:22 PM Learn about SEC filing dates

FAQ

What did Bassett Furniture (BSET) shareholders decide at the 2026 annual meeting?

Shareholders elected all director nominees and approved three proposals. They ratified Grant Thornton LLP as auditor, supported executive officer compensation, and increased shares available under the employee stock purchase plan by 200,000, confirming broad backing for current governance and compensation structures.

How many Bassett Furniture (BSET) shares were eligible to vote at the meeting?

A total of 8,686,117 shares of Bassett Furniture common stock were outstanding and entitled to one vote each as of the record date. This figure determines the maximum possible voting power represented at the 2026 annual shareholder meeting.

Was Bassett Furniture’s auditor ratified by shareholders in 2026?

Yes. Shareholders ratified Grant Thornton LLP as Bassett Furniture’s independent registered public accounting firm. The proposal received 7,029,411 votes for, 101,931 votes against, and 23,441 abstentions, indicating strong support for continuing the existing audit relationship.

Did Bassett Furniture (BSET) shareholders approve executive officer compensation?

Yes. In an advisory vote, shareholders approved Bassett Furniture’s executive officer compensation. The proposal received 5,166,388 votes for, 156,209 against, and 52,825 abstentions, with 1,779,361 broker non-votes, reflecting majority support for the company’s pay practices.

What change was approved to Bassett Furniture’s employee stock purchase plan?

Shareholders approved an increase of 200,000 shares available under the employee stock purchase plan. The proposal received 5,271,115 votes for, 70,617 against, 33,690 abstentions, and 1,779,361 broker non-votes, expanding capacity for employees to acquire company stock through the plan.

Were all Bassett Furniture (BSET) director nominees elected in 2026?

Yes. All nominees, including Emma S. Battle, John R. Belk, Kristina Cashman, and others, were elected. Each received over 5 million votes for, with relatively few votes withheld and 1,779,361 broker non-votes recorded on the director election items.

false 0000010329 0000010329 2026-03-11 2026-03-11

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 11, 2026

BASSETT FURNITURE INDUSTRIES, INCORPORATED

(Exact name of registrant as specified in its charter)

virginia		000-00209		54-0135270
(State or other jurisdiction of incorporation or organization)		(Commission File No.)		(I.R.S. Employer Identification No.)

3525 FAIRYSTONE PARK HIGHWAY BASSETT, virginia		24055
(Address of principal executive offices)		(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):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of exchange on which registered
Common Stock ($5.00 par value)		BSET		NASDAQ

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. ☐

Item 5.07. Submission of Matters to a Vote of Security Holders

The Company’s 2026 annual meeting of shareholders was held on March 11, 2026. As of the record date for the meeting, the Company had 8,686,117 shares of common stock outstanding, each of which is entitled to one vote. According to the final voting results, all director nominees were elected.

The voting tabulation was as follows:

Nominee		Votes For				Votes Withheld				Votes Abstain				Broker Non-Vote
Emma S. Battle			5,323,136				52,286				-				1,779,361
John R. Belk			5,325,038				50,384				-				1,779,361
Kristina Cashman			5,211,026				164,396				-				1,779,361
James E. Goergen			5,329,744				45,678				-				1,779,361
Virginia W. Hamlet			5,278,221				97,201				-				1,779,361
J. Walter McDowell			5,320,999				54,423				-				1,779,361
Robert H. Spilman, Jr.			5,310,310				65,112				-				1,779,361
William C. Wampler, Jr.			5,039,435				335,987				-				1,779,361
William C. Warden, Jr.			5,142,859				232,563				-				1,779,361

At the annual meeting, the shareholders also voted on three proposals:

1. Ratification of Grant Thornton LLP as the Company’s Independent Registered Public Accounting Firm for the fiscal year ending November 28, 2026.

The final tabulation was as follows:

Proposal		Votes For				Votes Against				Votes Abstain				Broker Non-Vote
Ratification of Grant Thornton LLP			7,029,411				101,931				23,441				-

2. To consider and act on an advisory vote regarding the approval of the compensation paid to certain executive officers.

The final tabulation was as follows:

Proposal		Votes For				Votes Against				Votes Abstain				Broker Non-Vote
Approval of Officer Compensation			5,166,388				156,209				52,825				1,779,361

3. To approve an amendment to the Company’s 2017 Employee Stock Purchase Plan, to increase the number of shares available for issuance by 200,000.

The final tabulation was as follows:

Proposal		Votes For				Votes Against				Votes Abstain				Broker Non-Vote
Increase ESPP shares 200,000			5,271,115				70,617				33,690				1,779,361

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

104          Cover Page Interactive Data File (embedded within the inline XBRL document)

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.

	BASSETT FURNITURE INDUSTRIES, INCORPORATED
Date: March 12, 2026	By:	/s/ J. Michael Daniel
		J. Michael Daniel
		Title:     Senior Vice President - Chief Financial Officer

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB