8-K

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) October 7, 20 20

BASSETT FURNITURE INDUSTRIES, INCORPORATED

(Exact name of registrant as specified in its charter)

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):

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

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. ☐

(d) Director Election

On October 7, 2020, the Board elected Emma S. Battle as a director. Ms. Battle was elected to serve until the 2021 Annual Meeting of Stockholders and thereafter if re-elected until her successor is duly elected and qualified. Ms. Battle was elected upon the recommendation of the Organization, Compensation and Nominating Committee of the Board.  Ms. Battle will receive compensation for her Board service as a non-employee director consistent with the Company’s director compensation program. The Board has determined that Ms. Battle is an independent outside director, and it has not been determined on which committee of the Board she will serve. Ms. Battle is the President and CEO of MarketVigor, a business services company she founded in 2003. Since 2017, she has served as the President and CEO of Higher Ed Works, a nonpartisan public charity that supports higher public education in North Carolina. From 2015 to 2017, Ms. Battle was Vice President, Client Success of Windsor Circle, an e-commerce marketing company. She currently serves on the Board of the Southeastern Wind Coalition, on the Board of Advisors of Elon University’s Love School of Business, and on the Executive Leadership Board of the Frank Porter Graham Child Development Institute. Ms. Battle was a member of the Board of Directors of Primo Water Corporation (PRMW) from 2019 to 2020.

(d) Exhibits

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.

EXHIBIT INDEX

Description

Exhibit No. 99      News release issued by Bassett Furniture Industries on October 9, 2020.

ex_206710.htm

Exhibit 99

Bassett Furniture News Release

Bassett Announces Board Appointment

Bassett Furniture Industries, Inc. (BSET) announced that on October 7, 2020, Emma S. Battle was elected a member of its Board of Directors. “We welcome Emma Battle to the Bassett Board of Directors,” said Rob Spilman, Chairman and CEO. “She is a successful businessperson with an extensive background in digital strategy, e-commerce marketing, and client success management. She also has been an avid leader and supporter of education in North Carolina for many years. We look forward to enjoying the benefits of her talent, wisdom and expertise.”

After receiving her B.A. degree in Economics and Spanish from Duke University in 1983, Ms. Battle worked at Pepsico in production supervisory roles before obtaining her MBA from Harvard School of Business in 1990. Ms. Battle has over 30 years of business experience in strategy, operations and marketing.  She has spent the past 20 years as an innovative leader in e-commerce, digital, B2C and B2B marketing, along with client success operations. She is currently President and CEO of MarketVigor, a business services company she founded in 2003, and is the President and CEO of Higher Ed Works, a nonpartisan public charity supporting higher public education in North Carolina.  She has previously served as President and Chief Operating Officer at Crisp Digital Agency, Vice President of Client Success at Windsor Circle, an e-commerce marketing company, Vice President of Marketing and Merchandising at Art.com, and, Vice President of Marketing, Vice President of Strategic Planning, Director of Marketing and Director of Operations & Sourcing, at HanesBrands, Inc.

Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With 98 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. 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 700 accounts in the open market, across the United States and internationally, and a logistics business specializing in home furnishings. For more information, visit the Company’s website at bassettfurniture.com. (BSET-E)