On September 4, 2019, George W. Henderson, III, notified Bassett Furniture Industries, Incorporated of his resignation from the Board of Directors of the Company, effective September 5, 2019. Mr. Henderson indicated to the Company that his decision to resign was based solely on personal health reasons, and not due to any disagreement with the Company or concerns relating to the Company’s operations, policies, or practices. Mr. Henderson served on the Audit Committee of the Board. The Board appointed director John R. Belk to the Audit Committee of the Board effective September 5, 2019, and also determined that Mr. Belk meets the current independence and experience requirements contained in the listing standards of NASDAQ and is an audit committee financial expert as defined in Securities and Exchange Commission regulations.