CULP INC — Director's Dealing 2019

Jul 22, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CULP INC (CULP)
CIK: 0000723603
Period of Report: 2019-07-18

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-07-18	Restricted Stock Units	$0	A	1500	Acquired		Common Stock (2250)	Direct

Footnotes

F1: Contingent right to receive issuance of Culp, Inc. common stock.

F2: 1/2 of these restricted stock units (750 RSUs) vest and convert into the right to receive one share of common stock per RSU (750 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 (750 RSUs) could vest up to 2 shares of common stock (1,500 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.