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: 2011-04-20

Reporting Person: SAXON FRANKLIN N (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-20	Common Stock	M	24000	$4.52	Acquired	276652	Direct
2011-04-20	Common Stock	F	16660	$8.74	Disposed	259992	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-20	Incentive Stock Option (Right to Buy)	$4.52	M	24000	Disposed	2011-06-13	Common Stock (24000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	66070	Indirect

Footnotes

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

F2: This price represents the option price pertaining to the acquisition of the company's common stock and in connection with the stock option exercise disclosed in Table II.