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  <TITLE> Bell Industries, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	February 27, 2007
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  	Bell Industries, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Connecticut
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  	001-11471
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  	95-2039211
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	8888 Keystone Crossing , Suite 1700, Indianapolis, Indiana
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  	46240
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	317-704-6000
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On February 27, 2007, Bell Industries, Inc. ("Bell"), as authorized by the Compensation Committee of its Board of Directors, paid an annual cash bonus to Bell's President and Chief Executive Officer in respect to the year ended December 31, 2006.  The cash bonus awarded was based on the achievement of various non-financial measures.  The Compensation Committee considered various factors in setting the amount of the bonus paid, including the achievement of various non-financial objectives, competitive pay practices, and job scope and responsibility.  The cash bonus paid is attached hereto as Exhibit 10.1<br><br>Bell intends to provide additional information regarding the compensation of each of its executive officers for the year ended December 31, 2006 in the proxy statement for Bell's 2007 Annual Meeting of Shareholders, which is expected to be filed with the Securities and Exchange Commission in April 2007.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Bell Industries, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	March 2, 2007
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  	By:
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  <I>
  	/s/ John A. Fellows
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  	&nbsp;
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  <I>
  	Name: John A. Fellows
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  <I>
  	Title: President and Chief Executive Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	10.1
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  	&nbsp;
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  Annual Cash Bonus
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_18622.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10362}]
metadata_filer: {"company-data": {"conformed-name": "BELL INDUSTRIES INC /NEW/", "cik": "0000945489", "assigned-sic": "5065", "irs-number": "952039211", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11471", "film-number": "07668782"}, "business-address": {"street1": "1960 E GRAND AVENUE SUITE 560", "city": "EL SEGUNDO", "state": "CA", "zip": "90245", "phone": "3105632355"}, "mail-address": {"street1": "1960 E GRAND AVENUE SUITE 560", "city": "EL SEGUDON", "state": "CA", "zip": "90245"}, "former-company": {"former-conformed-name": "CALIFORNIA BELL INDUSTRIES INC", "date-changed": "19950519"}}
text: Bell Industries, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  February 27, 2007
  Bell Industries, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Connecticut
  001-11471
  95-2039211
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  8888 Keystone Crossing , Suite 1700, Indianapolis, Indiana
  46240
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  317-704-6000
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On February 27, 2007, Bell Industries, Inc. ("Bell"), as authorized by the Compensation Committee of its Board of Directors, paid an annual cash bonus to Bell's President and Chief Executive Officer in respect to the year ended December 31, 2006.  The cash bonus awarded was based on the achievement of various non-financial measures.  The Compensation Committee considered various factors in setting the amount of the bonus paid, including the achievement of various non-financial objectives, competitive pay practices, and job scope and responsibility.  The cash bonus paid is attached hereto as Exhibit 10.1
  Bell intends to provide additional information regarding the compensation of each of its executive officers for the year ended December 31, 2006 in the proxy statement for Bell's 2007 Annual Meeting of Shareholders, which is expected to be filed with the Securities and Exchange Commission in April 2007.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Bell Industries, Inc.
  March 2, 2007
  By:
  /s/ John A. Fellows
  Name: John A. Fellows
  Title: President and Chief Executive Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Annual Cash Bonus