Robert George Culp IV - Sep 28, 2023 Form 4 Insider Report for CULP INC (CULP)

Signature
/s/ Ashley C. Durbin, Attorney-in-Fact
Stock symbol
CULP
Transactions as of
Sep 28, 2023
Transactions value $
$0
Form type
4
Date filed
10/2/2023, 05:24 PM
Previous filing
Aug 9, 2023
Next filing
Jul 5, 2024

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 +89.4K +99.78% $0.00 179K Sep 28, 2023 Common Stock 134K $0.00 Direct F1, F2
* 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 1/4 of these restricted stock units (22,361 RSUs) vest and convert into the right to receive one share of common stock per RSU (22,361 total shares of common stock) on or about July 10, 2026, if the participant remains employed by the company as of such date; the remaining 3/4 of the restricted stock units (67,084 RSUs) could vest and convert into the right to receive up to a maximum of 111,807 total shares of common stock if the company achieves certain performance criteria over a three-year performance period beginning May 1, 2023, and ending May 3, 2026, per the terms of the award agreement.