Thomas Bruno - Jan 1, 2023 Form 3 Insider Report for CULP INC (CULP)

Role
President, Culp Home Fashions
Signature
/s/ Ashley C. Durbin, Attorney-in-Fact
Stock symbol
CULP
Transactions as of
Jan 1, 2023
Transactions value $
$0
Form type
3
Date filed
1/3/2023, 08:51 AM
Next filing
Jan 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CULP Common Stock 1K Jan 1, 2023 Direct

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
holding CULP Restricted Stock Units Jan 1, 2023 Common Stock 37.7K $0.00 Direct F1, F2
holding CULP Restricted Stock Units Jan 1, 2023 Common Stock 27.6K $0.00 Direct F1, 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 1/3 of these restricted stock units (12,557 RSUs) vest and convert into the right to receive one share of common stock per RSU (12,557 total shares of common stock) on September 6, 2023 if the recipient remains employed by the company as of such date; an additional 1/3 of these restricted stock units (12,557 RSUs) vest and convert into the right to receive one share of common stock per RSU (12,557 total shares of common stock) on September 6, 2024 if the recipient remains employed by the company as of such date; and the remaining 1/3 of these restricted stock units (12,557 RSUs) vest and convert into the right to receive one share of common stock per RSU (12,557 total shares of common stock) on September 6, 2025 if the recipient remains employed by the company as of such date.
F3 1/2 of these restricted stock units (9,197 RSUs) vest and convert into the right to receive one share of common stock per RSU (9,197 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 (9,197 RSUs) could vest and convert into the right to receive up to 2 shares of common stock per RSU(18,395 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.

Remarks:

Exhibit List Exhibit 24 - Power of Attorney - CE