SEC Info - Brown Cassandra J - ‘3’ for 1/1/20 re: Culp Inc.

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Brown Cassandra J

(Last)

(First)

(Middle)

1823 EASTCHESTER DRIVE

(Street)

HIGH POINT

27265

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
1/1/20

3. Issuer Name and Ticker or Trading Symbol
CULP INC [ CULP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President, Culp Home Fashions

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	9,725	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Stock Units ⁽¹⁾	⁽²⁾	⁽²⁾	Common Stock	10,243 ⁽²⁾	0	D
Restricted Stock Units ⁽¹⁾	⁽³⁾	⁽³⁾	Common Stock	2,400 ⁽³⁾	0	D
Restricted Stock Units ⁽¹⁾	⁽⁴⁾	⁽⁴⁾	Common Stock	2,400 ⁽⁴⁾	0	D

Explanation of Responses:

(1) Contingent right to receive issuance of Culp, Inc. common stock.

(2) 1/2 of these restricted stock units (3,414 RSUs) vest and convert into the right to receive one share of common stock per RSU (3,414 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 (3,414 RSUs) could vest up to 2 shares of common stock (6,829 total shares of common stock) if the company achieves certain performance criteria over a three year period beginning April 29, 2019 and ending May 1, 2022, per the terms of the award agreement.

(3) These restricted stock units could vest up to a maximum of 2 shares of common stock per unit (2,400 total shares of common stock) if the company achieves certain performance criteria over a three year period beginning April 30, 2018 and ending May 2, 2021, per the terms of the award agreement.

(4) These restricted stock units could vest up to a maximum of 2 shares of common stock per unit (2,400 total shares of common stock) if the company achieves certain performance criteria over a three year period beginning May 1, 2017 and ending May 3, 2020, per the terms of the award agreement.

Remarks:

Exhibit List Exhibit 24 - Power of Attorney - CE

	/s/ Ashley C. Durbin, Attorney-in-Fact	1/10/20
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Brown Cassandra J – ‘3’ for 1/1/20 re: Culp Inc.

On: Friday, 1/10/20, at 3:43pm ET · For: 1/1/20 · Accession #: 1765814-20-6 · File #: 1-12597

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents

‘3’ — Initial Statement of Beneficial Ownership of Securities by an Insider — primary_doc.xml/2.6

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Brown Cassandra J – ‘3’ for 1/1/20 re: Culp Inc.

On: Friday, 1/10/20, at 3:43pm ET · For: 1/1/20 · Accession #: 1765814-20-6 · File #: 1-12597

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34Filing Table of Contents

‘3’ — Initial Statement of Beneficial Ownership of Securities by an Insider — primary_doc.xml/2.6

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents