<SEC-DOCUMENT>0001157523-16-004252.txt : 20160121
<SEC-HEADER>0001157523-16-004252.hdr.sgml : 20160121
<ACCEPTANCE-DATETIME>20160121164835
ACCESSION NUMBER:		0001157523-16-004252
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160121
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160121
DATE AS OF CHANGE:		20160121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULP INC
		CENTRAL INDEX KEY:			0000723603
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILLS, COTTON [2211]
		IRS NUMBER:				561001967
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0429

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12597
		FILM NUMBER:		161353950

	BUSINESS ADDRESS:	
		STREET 1:		1823 EASTCHESTER DRIVE
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
		BUSINESS PHONE:		3368895161

	MAIL ADDRESS:	
		STREET 1:		P O BOX 2686
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51264255.htm
<DESCRIPTION>CULP, INC. 8-K
<TEXT>
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      <font style="font-size: 12pt"><b>UNITED STATES</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>WASHINGTON,
      DC&#160;&#160;20549</b></font><br><br><font style="font-size: 16pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT PURSUANT</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>TO
      SECTION 13 OR 15(d) OF THE</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported)&#160;&#160;&#160;&#160;</font><u><font style="font-size: 10pt; font-family: Times New Roman">January
      21, 2016</font></u><u><br></u><br><u><font style="font-size: 18pt; font-family: Times New Roman"><b>Culp,
      Inc.</b></font></u><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      Name of Registrant as Specified in its Charter)</font><br><br><br>
    </p>
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            North Carolina
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          &#160;
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          <p style="margin-bottom: 0px; margin-top: 0px">
            0-12781
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          &#160;
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          <p style="margin-bottom: 0px; margin-top: 0px">
            56-1001967
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or Other Jurisdiction
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          <p style="margin-bottom: 0px; margin-top: 0px">
            of Incorporation)
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        <td style="width: 5%">

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            (Commission File Number)
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        <td style="width: 5%">

        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
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          &#160;
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        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; width: 34%; border-bottom-style: solid" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1823 Eastchester Drive
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            High Point, North Carolina&#160;&#160;27265
          </p>
        </td>
        <td style="width: 33%">

        </td>
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        <td style="width: 33%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of Principal Executive Offices)</font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Zip
            Code)</font>
          </p>
        </td>
        <td style="width: 33%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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          &#160;
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        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; width: 50%; padding-right: 0.0px; border-bottom-style: solid" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (336) 889-5161
          </p>
        </td>
        <td style="width: 25%">

        </td>
      </tr>
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        <td style="width: 25%">

        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Registrant&#8217;s
            Telephone Number, Including Area Code)</font>
          </p>
        </td>
        <td style="width: 25%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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          &#160;
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        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; width: 56%; border-bottom-style: solid" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Not Applicable
          </p>
        </td>
        <td style="width: 22%">

        </td>
      </tr>
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        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 56%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Former name or address, if changed from last report)
          </p>
        </td>
        <td style="width: 22%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions</font><font style="font-family: Times New Roman; font-size: 10pt">
      </font><font style="font-size: 10pt">(</font><i><font style="font-size: 10pt">see</font></i><font style="font-size: 10pt">
      General Instruction A.2. below)</font><font style="font-family: Times New Roman; font-size: 10pt">:</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">

    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: justify">
      <b>Item 5.02.&#160;&#160;Departure of Directors or Certain Officers; Election of
      Directors; Appointment of Certain Officers; Compensatory Arrangements of
      Certain Officers.</b>
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      On January 21, 2016, Fred A. Jackson was elected to the board of
      directors (the &#8220;Board&#8221;) of Culp, Inc. (the &#8220;Company&#8221;).&#160;&#160;Mr. Jackson was
      appointed to the Board by the current members of the Board to fill a
      vacancy created by the expansion of the size of the Board from five to
      six members in accordance with the Company&#8217;s bylaws.&#160;&#160;Mr. Jackson&#8217;s term
      on the Board commenced on January 21, 2016, and will expire at the next
      annual meeting of shareholders or when his successor has been elected
      and qualified.&#160;&#160;In connection with his election to the Board, Mr.
      Jackson has been appointed to the Board&#8217;s Audit Committee, Compensation
      Committee, and Corporate Governance and Nominating Committee.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      Mr. Jackson is retired Chief Executive Officer of American &amp; Efird LLC,
      a global manufacturer of sewing thread, embroidery thread, and technical
      textiles.&#160;&#160;He served American &amp; Efird for 38 years in various positions
      before his retirement from the CEO position in September 2015, and
      continues to serve as non-executive chairman for the Advisory Board of
      American &amp; Efird Global, L.P.&#160;&#160;A press release issued by the Company on
      January 21, 2016 to disclose the election of Mr. Jackson is included in
      this filing as Exhibit 99.1.&#160;&#160;The contents of Exhibit 99.1 are furnished
      for information only, and are not to be deemed &#8220;filed&#8221; for purposes of
      the Securities Exchange Act of 1934.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      There is no arrangement or understanding between Mr. Jackson and any
      other person relating to his election to the Board.&#160;&#160;Mr. Jackson does
      not have any relationship and has not entered into any transaction that
      would be reportable under Item 404(a) of Regulation S-K of the
      Securities and Exchange Commission.
    </p>
    <p style="text-align: justify">
      <b>Item 9.01.&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="text-align: justify">
      (d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      Exhibit 99.1 &#8211; Press Release dated January 21, 2016
    </p>
    <p style="margin-left: 30.0px; text-align: justify">

    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURES</font>
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">

    </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            January 21, 2016
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Culp, Inc.
          </p>
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 6%; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; width: 30%; border-bottom-style: solid" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Franklin N. Saxon
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Franklin N. Saxon
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            President and Chief Executive Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>EXHIBIT&#160;INDEX</b><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 25%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 10%" valign="top">
          &#160;
        </td>
        <td style="padding-left: 50.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit</u>
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 25%">

        </td>
        <td style="width: 10%">

        </td>
        <td style="width: 55%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 10%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; white-space: nowrap; width: 25%; padding-right: 0.0px" valign="top">
          99.1
        </td>
        <td style="width: 10%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated January 21, 2016
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51264255_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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<!--All rights reserved www.businesswire.com-->
  </head>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Culp,
      Inc. Names Fred A. Jackson to Board of Directors</b></font>
    </p>
    <p>
      HIGH POINT, N.C.--(BUSINESS WIRE)--January 21, 2016--Culp, Inc. (NYSE:
      CFI), today announced that Fred A. Jackson was elected to the company&#8217;s
      Board of Directors. His term is effective January 21, 2016, and will
      expire at the next annual meeting of shareholders, at which time he will
      be eligible for re-election along with the other directors.
    </p>
    <p>
      Jackson has a business background of 38 years with American &amp; Efird LLC
      (A&amp;E), one of the world&#8217;s foremost manufacturers of sewing thread,
      embroidery thread and technical textiles with a global presence that
      extends from Asia to Europe to the Americas. The major end-user markets
      served by A&amp;E include the apparel, home furnishings and automotive
      industries. Having served in various executive and sales management
      positions, Jackson retired as Chief Executive Officer in September 2015.
      He continues to serve as Non-Executive Chairman for the Advisory Board
      of A&amp;E. Jackson has a bachelor&#8217;s degree in marketing from Valdosta State
      College and completed the Executive Program at the Darden Business
      School of the University of Virginia. He also serves on the boards of
      the American Apparel and Footwear Association and the International
      Apparel Federation.
    </p>
    <p>
      Commenting on the announcement, Robert G. Culp, III, chairman of the
      board of Culp, Inc., stated, &#8220;We are pleased and fortunate to have Fred
      Jackson join our Board. Because of his considerable experience and
      successful career in the textile industry and his insight regarding the
      dynamics of operating an international business, he is an excellent
      choice for Culp. Fred brings an additional level of global expertise in
      the bedding and furniture industries that complements our strong and
      experienced Board, and we expect he will make a meaningful contribution
      to its work. We look forward to his participation and counsel about the
      future direction for Culp as we execute our strategy in today&#8217;s global
      marketplace.&#8221;
    </p>
    <p>
      Culp, Inc. is one of the world&#8217;s largest marketers of mattress fabrics
      for bedding and upholstery fabrics for residential and commercial
      furniture. The company markets a variety of fabrics to its global
      customer base of leading bedding and furniture companies, including
      fabrics produced at Culp&#8217;s manufacturing facilities and fabrics sourced
      through other suppliers. Culp has operations located in the United
      States, Canada and China.
    </p>
    <p>
      CONTACT:<br>Culp, Inc.<br>Company Contact:<br>Kenneth R. Bowling,
      336-881-5630<br>Chief Financial Officer<br>or<br>Media Contact:<br>Teresa
      A. Huffman, 336-889-5161<br>Vice President, Human Resources
    </p>
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