CULP INC — Director's Dealing 2021

Jul 26, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CULP INC (CULP)
CIK: 0000723603
Period of Report: 2021-07-22

Reporting Person: Brown Cassandra J (President, Mattress Fabric)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-22	Restricted Stock Units	$0	A	11511	Acquired		Common Stock (17266)	Direct

Footnotes

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

F2: 1/2 of these restricted stock units (5,755 RSUs) vest and convert into the right to receive one share of common stock per RSU (5,755 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 (5,755 RSUs) could vest and convert into the right to receive up to 2 shares of common stock per RSU (11,511 total shares of common stock) if the company achieves certain performance criteria over a three year period beginning May 3, 2021, and ending April 28, 2024, per the terms of the award agreement.