BASSETT FURNITURE INDUSTRIES, INCORPORATED (NASDAQ:BSET) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07.
Submission of Matters to a Vote of Security Holders
The Company’s 2019 annual meeting of shareholders was held on March 6, 2019. As of the record date for the meeting, the Company had 10,571,506 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 |
|
John R. Belk |
7,994,793 | 206,545 | – | 1,189,752 |
|
Kristina Cashman |
7,983,207 | 218,131 | – | 1,189,752 |
|
Virginia W. Hamlet |
7,995,293 | 206,045 | 1,189,752 | |
|
George W. Henderson, III |
7,977,919 | 223,419 | – | 1,189,752 |
|
J. Walter McDowell |
7,999,882 | 201,456 | – | 1,189,752 |
|
Robert H. Spilman, Jr. |
7,942,993 | 258,345 | – | 1,189,752 |
|
William C. Wampler, Jr. |
7,956,252 | 245,086 | – | 1,189,752 |
|
William C. Warden, Jr. |
7,969,382 | 231,956 | – | 1,189,752 |
At the annual meeting, the shareholders also voted on three proposals:
|
1. |
Ratification of Ernst & Young LLP as the Company’s Independent Registered Public Accounting Firm. |
The final tabulation was as follows:
|
Proposal |
Votes For |
Votes Against |
Votes Abstain |
Broker Non-Vote |
|
Ratification of Ernst & Young LLP |
9,213,569 | 174,970 | 2,551 | – |
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 |
8,069,228 | 68,560 | 63,550 | 1,189,752 |
3.To consider and act on an advisory vote regarding the frequency of stockholder approval of the compensation paid to certain executive officers.
The final tabulation was as follows:
|
Proposal |
Every One Year |
Every Two Years |
Every Three Years |
Abstain |
Broker Non-Vote |
|
Frequency of Stockholder Approval |
7,078,790 | 24,141 | 1,062,448 | 35,958 | 1,189,753 |
Consistent with a majority of the advisory votes cast and the recommendation of the Company’s Board of Directors, the Company will hold a shareholder advisory vote on the compensation of the Company’s named executive officers annually until the next vote on the frequency of such advisory votes.
About BASSETT FURNITURE INDUSTRIES, INCORPORATED (NASDAQ:BSET)
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers. Its retail segment consists of Company-owned stores. It operates its logistical services segment through its subsidiary, Zenith Freight Lines, LLC, which provides shipping, delivery and warehousing services. Its portfolio of products includes Canopy Bed, Nightstands, Baby Bedding, Bedside Tables, Chaise Lounge, Writing Desks, Kitchen Furniture, Computer Hutch, Game Tables and Fabric Ottomans. Its range of furniture products and accessories are sold through a nation-wide network of over 90 retail stores known as Bassett Home Furnishings.
