FORM 3
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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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OMB APPROVAL
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(Print or Type Responses)
1. Name and Address of Reporting Person *
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Brown Cassandra J |
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2. Date of Event Requiring Statement (Month/Day/Year) 01/01/2020 |
3. Issuer Name and Ticker or Trading Symbol CULP INC [CULP]
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1823 EASTCHESTER DRIVE |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director
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_____ 10% Owner
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__X__ Officer (give title below)
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_____ Other (specify below)
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President, Culp Home Fashions
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5. If Amendment, Date Original Filed
(Month/Day/Year)
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HIGH POINT, NC 27265 |
6. Individual or Joint/Group Filing
(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4)
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2. Amount of Securities Beneficially Owned (Instr. 4)
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3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)
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4. Nature of Indirect Beneficial Ownership (Instr. 5)
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Common Stock | 9,725 |
D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)
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2. Date Exercisable and Expiration Date (Month/Day/Year)
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3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
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4. Conversion or Exercise Price of Derivative Security
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5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Restricted Stock Units (1) |
(2) |
(2) | Common Stock | 10,243 (2) |
$0 | D |
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Restricted Stock Units (1) |
(3) |
(3) | Common Stock | 2,400 (3) |
$0 | D |
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Restricted Stock Units (1) |
(4) |
(4) | Common Stock | 2,400 (4) |
$0 | D |
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Reporting Owners
Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Brown Cassandra J 1823 EASTCHESTER DRIVE HIGH POINT, NC 27265 |
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President, Culp Home Fashions |
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Signatures
/s/ Ashley C. Durbin, Attorney-in-Fact | | 01/10/2020 |
**Signature of Reporting Person | Date |
Explanation of Responses:
* | 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). |
(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 |
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
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