<SEC-DOCUMENT>0001157523-19-001443.txt : 20190626
<SEC-HEADER>0001157523-19-001443.hdr.sgml : 20190626
<ACCEPTANCE-DATETIME>20190626154115
ACCESSION NUMBER:		0001157523-19-001443
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190624
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:		20190626
DATE AS OF CHANGE:		20190626

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:		19921538

	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>a52005524.htm
<DESCRIPTION>CULP, INC. 8-K
<TEXT>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">WASHINGTON, D.C.&#160; 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">CURRENT REPORT PURSUANT</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">TO SECTION 13 OR 15(d) OF THE</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><u>Date of Report (Date of earliest event reported) June 24, 2019</u></div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;"><u>Culp, Inc.</u></div>
    <div style="text-align: center;">(Exact Name of Registrant as Specified in its Charter)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z7908de9798554819a6d47bed8d900079" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">North Carolina</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">1-12597</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">56-1001967</div>
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            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(State or Other Jurisdiction</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">of Incorporation)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center;">(Commission File Number)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(I.R.S. Employer</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">Identification No.)</div>
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          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">1823 Eastchester Drive</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">High Point, North Carolina&#160; 27265</div>
          </td>
        </tr>
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          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Address of Principal Executive Offices)</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Zip Code)</div>
          </td>
        </tr>

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    <table cellspacing="0" cellpadding="0" border="0" align="center" id="z385a642d1a184811aa9352afd9a8492e" style="border-collapse: collapse; width: 55%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

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          <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(336) 889-5161</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Registrant&#8217;s Telephone Number, Including Area Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
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            <div style="text-align: center;">Not Applicable</div>
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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">(Former name or address, if changed from last report)</div>
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    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; text-indent: 18pt;">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 (see
      General Instruction A.2. below):</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 18pt;">&#9744;&#160;&#160;&#160; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 18pt;">&#9744;&#160;&#160;&#160; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 18pt;">&#9744;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 18pt;">&#9744;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Securities registered pursuant to Section 12(b) of the Act:</div>
    <div><br>
    </div>
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            <div style="text-align: center;">Title of each class</div>
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            <div style="text-align: center;">Trading Symbol</div>
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            <div style="text-align: center;">Name of exchange on which registered</div>
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            <div style="text-align: center;">Common stock, par value $0.05 per share</div>
          </td>
          <td style="width: 20%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">CULP</div>
          </td>
          <td style="width: 40%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">New York Stock Exchange</div>
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    </table>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</div>
      <div>Emerging growth company &#9744;</div>
    </div>
    <div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. &#9744;</div>
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    <div style="text-align: justify; font-weight: bold;">Item 5.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">On June 24, 2019, Perry E. Davis was elected to the board of directors (the &#8220;Board&#8221;) of Culp, Inc. (the &#8220;Company&#8221;).&#160; Mr. Davis was appointed 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; Mr. Davis&#8217;s term on the Board will commence on July 1, 2019, and will expire at the next annual meeting of shareholders on September
      26, 2019, or when his successor has been elected and qualified.&#160; In connection with his election to the Board, Mr. Davis has been appointed to the Board&#8217;s Audit Committee, Compensation Committee, and Corporate Governance and Nominating Committee.</div>
    <div style="background-color: #FFFFFF;">
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Since January 1, 2017, Mr. Davis has served as Executive Vice President, President &#8211; Residential and Industrial Product Segments for Leggett &amp; Platt, Incorporated, a diversified manufacturer that designs and
        produces engineered products found in most homes and automobiles.&#160; Mr. Davis has served in various roles for Leggett &amp; Platt, Incorporated since 1981.&#160; He holds a degree in marketing and management from Missouri Southern State University.&#160; A
        press release issued by the Company on June 26, 2019 to disclose the election of Mr. Davis is included in this filing as Exhibit 99.1.&#160; The contents of Exhibit 99.1 are furnished for information only, and are not deemed &#8220;filed&#8221; for purposes of the
        Securities Exchange Act of 1934.</div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Mr. Davis will receive compensation as a non-employee director in accordance with the Company&#8217;s non-employee director compensation program described in the Company&#8217;s 10-Q filed with the U.S.
      Securities and Exchange Commission on March 8, 2019.&#160; There is no arrangement or understanding between Mr. Davis and any other person relating to her election to the Board.&#160; Mr. Davis 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.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;">Item 9.01.</font><font style="font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Statements and Exhibits.</font></div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits</div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div><br>
      </div>
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exhibit 99.1 &#8211; Press Release dated June 26, 2019</div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">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.</div>
    <div><br>
    </div>
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      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z5fdb4d58c40a4ef9b54852a6fd64de31">

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              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 35%; font-weight: bold;">
              <div>CULP, INC.</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
          </tr>
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            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 35%; font-weight: bold;">
              <div>(Registrant)</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
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              <div>&#160;</div>
            </td>
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              <div>&#160;</div>
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              <div>&#160;</div>
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            <td style="width: 10%;">
              <div>&#160;</div>
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            <td style="width: 50%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; font-weight: bold; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="width: 35%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/Ashley Durbin</div>
            </td>
            <td style="width: 10%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 35%; font-weight: bold;">
              <div>VP, General Counsel and Corporate Secretary</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><u><font style="font-weight: bold;">Dated:&#160; June 26, 2019</font></u></div>
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    <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
    <div><br>
    </div>
    <div>
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            <td style="width: 20%;">
              <div>&#160;</div>
            </td>
            <td style="width: 20%;">
              <div><u>Exhibit Number</u></div>
            </td>
            <td style="width: 30%;">
              <div style="text-align: center;"><u>Exhibit</u></div>
            </td>
            <td style="width: 30%;">
              <div>&#160;</div>
            </td>
          </tr>
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              <div>&#160;</div>
            </td>
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              <div>&#160;</div>
            </td>
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              <div>&#160;</div>
            </td>
            <td style="width: 30%;">
              <div>&#160;</div>
            </td>
          </tr>
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            <td style="width: 20%;">
              <div>&#160;</div>
            </td>
            <td style="width: 20%;">
              <div><a href="a52005524ex99_1.htm">99.1</a></div>
            </td>
            <td style="width: 30%;">
              <div style="text-align: center;"><a href="a52005524ex99_1.htm">Press Release dated June 26, 2019</a></div>
            </td>
            <td style="width: 30%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
  </div>
  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber"> <br>
    </font></div>
  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a52005524ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">
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  <font style="font-weight: bold;">Exhibit 99.1</font><br>
  <br>
  <div class="bw-release">
    <h1 style="text-align: center; list-style-position:inside;FONT-SIZE: 14pt;"> <b>Culp, Inc. Names Perry E. Davis to Board of Directors</b> </h1>
    <div class="bw-release-subhead"></div>
    <div class="bw-release-body">
      <div class="bw-release-notes"></div>
      <div class="bw-release-table-js bw-release-story">
        <p style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">HIGH POINT, N.C.--(BUSINESS WIRE)--June 26, 2019--Culp, Inc. (NYSE: CULP) today announced that Perry E. Davis was elected to the company&#8217;s Board of
          Directors. His term is effective July 1, 2019, 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 style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;"> Davis currently serves as Executive Vice President, President &#8211; Residential and Industrial Product Segments for Leggett &amp; Platt, Incorporated,
          a diversified manufacturer that designs and produces engineered products found in most homes and automobiles. He previously served as Senior Vice President, President &#8211; Residential Furnishing from 2012 until 2017, Vice President, President &#8211;
          Bedding Group from 2006 to 2012, Vice President, Executive Vice President &#8211; Bedding Group and President &#8211; U.S. Spring from 2004 to 2005, President &#8211; Central Division Bedding Group from 2000 to 2004, and in various other capacities for Leggett
          &amp; Platt since he joined the company in 1981. </p>
        <p style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;"> Davis has a bachelor&#8217;s degree in marketing and management from Missouri Southern State University. </p>
        <p style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;"> Commenting on the announcement, Frank Saxon, chairman and chief executive officer of Culp, Inc., stated, &#8220;We are delighted to welcome Perry Davis
          to our Board of Directors as an independent director. His long tenure with Leggett &amp; Platt in a variety of leadership positions for both residential furnishings and bedding divisions makes him an ideal candidate for Culp. He brings extensive
          corporate and industry experience that will complement the work and expertise of our other members. We look forward to his participation as we focus on executing our growth strategy and delivering greater value for our shareholders.&#8221; </p>
        <p style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;"> Iv Culp, president and chief operating officer of Culp, Inc., added, &#8220;We feel very fortunate to have Perry join our Board of Directors and look
          forward to benefiting from his substantial knowledge and experience in our key markets, as well as his insight regarding the dynamics of operating an international business. Perry is highly regarded in the bedding and furniture industries, and he
          brings an additional level of expertise that will further enhance Culp&#8217;s leadership position in today&#8217;s global marketplace.&#8221; </p>
        <p style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;"> Culp, Inc. is one of the world'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, China and Haiti. </p>
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        <h2 style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: left;">Contacts</h2>
        <p style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;"> Company Contact: Kenneth R. Bowling <br>
          Chief Financial Officer <br>
          336-881-5630 <br>
          <br>
          Media Contact: Teresa A. Huffman <br>
          Vice President, Human Resources <br>
          336-889-5161 </p>
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