CULP INC — Director's Dealing 2011

Apr 21, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CULP INC (CFI)
CIK: 0000723603
Period of Report: 2011-03-08

Reporting Person: Gallagher Thomas Bernard JR (Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-08	Common Stock	M	1000	$4.52	Acquired	1000	Direct
2011-03-08	Common Stock	M	600	$8.75	Acquired	1600	Direct
2011-03-08	Common Stock	M	1000	$10	Disposed	600	Direct
2011-03-08	Common Stock	M	600	$10	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-08	Incentive Stock Option (Right to Buy)	$4.52	M	1000	Disposed	2011-06-13	Common Stock (1000)	Direct
2011-03-08	Incentive Stock Option (Right to Buy)	$8.75	M	600	Disposed	2017-06-24	Common Stock (600)	Direct

Footnotes

F1: Employee stock option (right to buy) pursuant to the Culp, Inc. 2002 Stock Option Plan in reliance upon exemption provided by Rule 16(b) - 3(d).