Item 3. Legal Proceedings
ITEM 3. LEGAL PROCEEDINGS
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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INFORMATION ABOUT OUR EXECUTIVE OFFICERS
John E. Bassett III, 66, has been with the Company since 1981 and served in various wood manufacturing and product sourcing capacities, including Vice President, Wood Manufacturing; Vice-President, Global Sourcing from 2001 to 2007 and Vice President, Wood in 2008. He was appointed Senior Vice President, Wood in 2009. In 2019, he was also promoted to the position of Senior Vice President, Chief Operations Officer.
Bruce R. Cohenour, 66, has been with the Company since 2011, starting as Senior Vice President of Upholstery Merchandising. In 2013, he was promoted to Senior Vice President of Sales and Merchandising. In 2019, he was appointed Senior Vice President, Chief Sales Officer. Prior to joining Bassett, Mr. Cohenour was with Hooker Furniture Corp. from 2007 through 2010, last serving as President of the Case Goods Division.
J. Michael Daniel, 63, joined the Company in 2007 as Corporate Controller. From April 2009 through December 2009, he served as Corporate Controller and Interim Chief Financial Officer. In January 2010, he was appointed Vice President and Chief Accounting Officer. In January 2013, he was promoted to Senior Vice President and Chief Financial Officer. In 2019, he was also promoted to the position of Senior Vice President, Chief Financial and Administrative Officer.
Jay R. Hervey, Esq., 65, has served as the General Counsel, Vice President and Secretary for the Company since 1997.
Robert H. Spilman, Jr., 68, has been with the Company since 1984. Since 2000, he has served as Chief Executive Officer and President, and in 2016 also became the Chairman of the Board of Directors.
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PART II
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information:
Bassett’s common stock trades on the NASDAQ global select market system under the symbol “BSET.” We had approximately 6,300 beneficial stockholders at January 23, 2025.
Issuer Purchases of Equity Securities:
We are authorized to repurchase Company stock under a plan which was originally announced in 1998. On March 9, 2022, the Board of Directors increased the remaining limit of the repurchase plan to $40,000. The repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time. Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of prevailing market conditions and other factors. The following table summarizes the stock repurchase activity for the three months ended November 30, 2024, and the approximate dollar value of shares that may yet be repurchased pursuant to our stock repurchase program:
Issuer Purchases of Equity Securities
(dollar amounts in thousands, except share and per share data)
Total
Shares
Purchased
Average
Price Paid
Total Number of Shares
Purchased as Part of
Publicly Announced Plans or
Programs
Approximate Dollar Value
of Shares that May Yet Be
Purchased Under the Plans
or Programs
September 1, 2024 - October 5, 2024
-
$
-
-
$
20,696
October 6 - November 2, 2024
2,171
$
14.36
2,171
$
20,665
November 3, 2024 - November 30, 2024
17,645
$
14.81
17,645
$
20,403
ITEM 6. [RESERVED]
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