Ashley C. Durbin - Aug 10, 2022 Form 4/A - Amendment Insider Report for CULP INC (CULP)

Role
VP, General Counsel
Signature
Ashley C. Durbin
Stock symbol
CULP
Transactions as of
Aug 10, 2022
Transactions value $
$0
Form type
4/A - Amendment
Date filed
8/22/2022, 03:42 PM
Date Of Original Report
Aug 12, 2022
Previous filing
Aug 22, 2022
Next filing
Aug 9, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CULP Restricted Stock Units Award $0 +10.9K +124.73% $0.00 19.7K Aug 10, 2022 Common Stock 16.4K $0.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Contingent right to receive issuance of Culp, Inc. common stock.
F2 1/2 of these restricted stock units (5,463 RSUs) vest and convert into the right to receive one share of common stock (5,463 total shares of common stock) at the end of three years if the participant remains employed by the company as of such date; the remaining 1/2 of these restricted stock units (5,463 RSUs) could vest and convert into the right to receive up to 2 shares of common stock per RSU (10,926 total shares of common stock) if the company achieves certain performance criteria over a three year period beginning May 2, 2022, and ending April 27, 2025, per the terms of the award agreement.
F3 This Amendment is being filed to correct an error in the previously reported Table II - "Number of derivative Securities Beneficially Owned Following Reported Transaction(s)" (Column 9).