Bassett Furniture Industries, Inc. Announces Annual Meeting Details

TL;DR

<b>Bassett Furniture Industries will hold its virtual Annual Meeting on March 6, 2024, to elect directors, ratify auditors, and vote on executive compensation.</b>

AI Summary

BASSETT FURNITURE INDUSTRIES INC (BSET) filed a Proxy Statement (DEF 14A) with the SEC on February 5, 2024. Annual Meeting of Stockholders to be held virtually on March 6, 2024, at 10:00 a.m. local time. Eight director nominees will be presented for election to a one-year term. Proposal to ratify Ernst & Young LLP as independent registered public accounting firm for fiscal year ending November 30, 2024. Advisory vote on executive compensation ('say-on-pay') will be considered. Record date for determining stockholders entitled to vote is January 18, 2024.

Why It Matters

For investors and stakeholders tracking BASSETT FURNITURE INDUSTRIES INC, this filing contains several important signals. Stockholders can participate virtually and vote online, requiring specific control numbers for access. The meeting agenda includes key corporate governance items such as director elections and executive compensation review.

Risk Assessment

Risk Level: low — BASSETT FURNITURE INDUSTRIES INC shows low risk based on this filing. The filing is a routine proxy statement with no immediate financial or operational risks indicated.

Analyst Insight

Review the director nominees and executive compensation proposals to inform voting decisions.

Key Numbers

• 8 — Director Nominees (Number of director nominees to be elected)
• 2024-03-06 — Annual Meeting Date (Date of the Annual Meeting of Stockholders)
• 2024-11-30 — Fiscal Year End (Fiscal year for which Ernst & Young LLP is proposed as auditor)
• 2024-01-18 — Record Date (Date for determining stockholders entitled to vote)

Key Players & Entities

• BASSETT FURNITURE INDUSTRIES INC (company) — Registrant
• March 6, 2024 (date) — Annual Meeting date
• Ernst & Young LLP (company) — Independent registered public accounting firm
• November 30, 2024 (date) — Fiscal year end for auditor
• January 18, 2024 (date) — Record date for stockholders

Forward-Looking Statements

• Shareholder participation in the Annual Meeting will be primarily digital due to the virtual-only format. (Bassett Furniture Industries, Inc.) — high confidence, target: March 6, 2024

FAQ

Industry Context

Bassett Furniture Industries operates in the wood household furniture manufacturing sector, focusing on non-upholstered items.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Schedule 14A, which governs proxy solicitations.

What Investors Should Do

1. Review the list of director nominees and their qualifications.
2. Examine the details of the executive compensation plan for the 'say-on-pay' vote.
3. Confirm control numbers and access instructions for the virtual Annual Meeting.

Key Dates

• 2024-03-06: Annual Meeting of Stockholders — To elect directors, ratify auditors, and vote on executive compensation.
• 2024-11-30: Fiscal Year End — The period for which Ernst & Young LLP is proposed as the independent auditor.
• 2024-01-18: Record Date — Determines which stockholders are entitled to notice of and to vote at the Annual Meeting.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a definitive proxy statement, indicating it follows any preliminary filings and contains the final details for the annual meeting.

Key Financial Figures

• $5.00 — r each share of Common Stock, par value $5.00 per share, of the Company (the "common

Filing Documents

• bset20240131_def14a.htm (DEF 14A) — 618KB
• img01.jpg (GRAPHIC) — 74KB
• img02.jpg (GRAPHIC) — 337KB
• img03.jpg (GRAPHIC) — 34KB
• img04.jpg (GRAPHIC) — 266KB
• img05.jpg (GRAPHIC) — 134KB
• robsig.jpg (GRAPHIC) — 15KB
• 0001437749-24-003064.txt (&nbsp;) — 1804KB

From the Filing

DEF 14A 1 bset20240131_def14a.htm FORM DEF 14A bset20240131_def14a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 Bassett Furniture Industries, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 A-1 BASSETT FURNITURE INDUSTRIES, INCORPORATED Bassett, Virginia NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO BE HELD MARCH 6, 2024 NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders of Bassett Furniture Industries, Incorporated (the "Company"), will be held on Wednesday, March 6, 2024, at 10:00 a.m., local time (the "Annual Meeting"), virtually, via live audio webcast. You can access the Annual Meeting by visiting https://web.lumiagm.com/201995786 (password: bassett2024). To participate in the Annual Meeting, you will need the 11-digit control number included on your proxy card if you are a registered shareholder or the 16-digit control number obtained in the manner prescribed by your nominee. We encourage you to access the meeting prior to the start time to allow time for check in. Please note that there is no in-person Annual Meeting for you to attend. If you experience technical difficulties during the check-in process or during the meeting, please contact https://go.lumiglobal.com/faq for assistance. If your shares are not registered in your own name and you plan to vote online and ask questions during the annual meeting, you must contact your broker or nominee in whose name your shares are registered to obtain a legal proxy. The Annual Meeting will be held for the purpose of considering and acting upon the following: 1. To elect each of the eight director nominees named in this proxy statement for a one-year term or until his or her successor is duly elected and qualified. 2. A proposal to ratify the selection of Ernst & Young LLP as its independent registered public accounting firm for the fiscal year ending November 30, 2024. 3. To consider and act on an advisory vote regarding the approval of compensation paid to certain executive officers ("say-on-pay"). 4. Any and all other matters that may properly come before the meeting or any adjournment thereof. The Board of Directors has fixed the close of business on January 18, 2024 as the record date for determining the stockholders entitled to notice of and to vote at the meeting and any adjournment thereof, and only holders of Common Stock of the Company of record at such date will be entitled to notice of or to vote at the meeting. YOUR VOTE IS VERY IMPORTANT TO US. REGARDLESS OF WHETHER YOU PLAN TO ATTEND THE MEETING, PLEASE ACT PROMPTLY TO VOTE YOUR SHARES BY RETURNING THE ENCLOSED PROXY, DATED AND SIGNED. THE PROXY MAY BE REVOKED BY YOU AT ANY TIME BEFORE IT IS EXERCISED AND WILL NOT BE EXERCISED IF YOU ATTEND THE VIRTUAL MEETING AND VOTE VIRTUALLY AT THE MEETING. By Order of the Board of Directors Robert H. Spilman, Jr. Chairman and Chief Executive Officer Bassett, Virginia February 5, 2024 IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD MARCH 6, 2024 The Company ' s Proxy Statement for the 2024 Annual Meeting of Stockholders and the Annual Report for the fiscal year ended November 25, 2023 are available at http://investors.bassettfurniture.com. BASSETT FURNITURE INDUSTRIES, INCORPORATED 3525 Fairystone Park Highway, Bassett, Virginia 24055 PROXY STATEMENT General This Proxy Statement is furnished in connection with the solicitation by the Board of Directors of proxies to be used at the Annual Meeting of Stockholders of Bassett Furniture Industries, Incorporated (the "Company" or "Bassett") to be held at 10:00 a.m., local time, on Wednesday, March 6, 2024, virtually, via live audio webcast at https://web.lumiagm.com/201995786. During the virtual meeting, stockholders of record or street holders who have obtained a legal proxy from their broker or nominee will be able to vote shares electronically and submit appropriate questions online during the annual meeting and the Company will answer appropriate questions, subject to time constraints. Questions relevant to meeting matters that the Company does not have time to answer during the meeting will be responded to in writing. This

View Full Filing

View this DEF 14A filing on SEC EDGAR