Edgar Filing: BASSETT FURNITURE INDUSTRIES INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

HERVEY JAY R

2. Issuer Name and Ticker or Trading Symbol
BASSETT FURNITURE INDUSTRIES INC [BSET]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Vice Pres Sec & Gen Counsel

(Last)

(First)

(Middle)

3525 FAIRYSTONE PARK HWY, P O BOX 626

3. Date of Earliest Transaction (Month/Day/Year)
07/16/2012

(Street)

BASSETT, VA 24055

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common	10/05/2012		M		10,000	A	$ 10.6	18,201.75 ⁽¹⁾	D
Common	10/05/2012		M		2,000	A	$ 4.38	20,201.75 ⁽¹⁾	D
Common	10/05/2012		M		1,500	A	$ 8.02	21,701.75 ⁽¹⁾	D
Common	07/13/2013		F		700 ⁽⁴⁾	D	$ 17.49	9,735.75 ⁽¹⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option

$ 14.7

01/24/2006

01/15/2005

01/14/2012

Common

$ 14.7

2,250

OPTION ⁽²⁾

$ 10.6

10/05/2012

3,334

10/17/2008

10/16/2017

COMMON

3,334

$ 10.6

OPTION ⁽²⁾

$ 10.6

10/05/2012

3,333

10/17/2009

10/16/2017

COMMON

3,333

$ 10.6

OPTION ⁽²⁾

$ 10.6

10/05/2012

3,333

10/17/2010

10/16/2017

COMMON

3,333

$ 10.6

Option ⁽³⁾

$ 4.38

10/05/2012

2,000

07/14/2012

07/13/2020

Common

2,000

$ 4.38

Option ⁽³⁾

$ 4.38

07/14/2010

2,000

07/14/2013

07/13/2020

Common

2,000

$ 4.38

2,000

Option ⁽³⁾

$ 4.38

07/14/2010

2,000

07/14/2014

07/13/2020

Common

2,000

$ 4.38

2,000

OPTION ⁽³⁾

$ 8.02

10/05/2012

1,500

07/13/2012

07/12/2021

COMMON

1,500

$ 8.02

OPTION ⁽³⁾

$ 8.02

07/13/2011

1,500

07/13/2013

07/12/2021

COMMON

1,500

$ 8.02

1,500

OPTION ⁽³⁾

$ 8.02

07/13/2011

1,500

07/13/2014

07/12/2021

COMMON

1,500

$ 8.02

1,500

OPTION ⁽³⁾

$ 8.02

07/13/2011

1,500

07/13/2016

07/12/2021

COMMON

1,500

$ 8.02

1,500

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
HERVEY JAY R 3525 FAIRYSTONE PARK HWY P O BOX 626 BASSETT, VA 24055			Vice Pres Sec & Gen Counsel

Signatures

Jay R Hervey		07/16/2012
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Includes shares acquired under the 2000 Employee Stock Purchase Plan in transactions exempt under Rule 16b-3(c).
(2)	GRANTED UNDER THE 1997 EMPLOYEE STOCK PLAN WHICH IS A RULE 16b-3 PLAN.
(3)	GRANTED UNDER THE 2010 STOCK INCENTIVE PLAN WHICH IS A RULE 16B-3 PLAN.
(4)	Represent shares of common stock surrendered back to the Company to satisfy tax withholding obligations related to the vesting of restricted stock.

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