Form 4: Bassett Furniture Industries CEO Reports Stock Disposals to Cover Tax Obligations
SEC Form 4 Filing
Robert H. Spilman Jr., Chairman and CEO of Bassett Furniture Industries, reported disposing of shares to cover tax obligations arising from stock awards.
Summary
- Robert H. Spilman Jr., Chairman and CEO of Bassett Furniture Industries, filed a Form 4 with the SEC.
- The form details the disposal of common stock to cover tax obligations.
- On January 11, 2025, and January 12, 2025, Spilman disposed of 350 shares each day at a price of $13.85.
- Following these transactions, Spilman directly owns 262,300 shares of common stock.
- Spilman also indirectly owns 13,947 shares through the Lucy Bassett Trust and 16,139 shares through his spouse.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing stock disposals for tax purposes, which is neutral in sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common.
Stakeholder Impact
- The stock disposal is unlikely to have a significant impact on shareholders, as it is a routine transaction for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 01/11/2025 | Disposal of 350 shares of common stock at $13.85. |
| 01/12/2025 | Disposal of 350 shares of common stock at $13.85. |
| 01/14/2025 | Date of signature for the SEC filing. |
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