culp-8k_20200930.htm
false CULP INC 0000723603 0000723603 2020-09-30 2020-09-30

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported) September 30, 2020

 

Culp, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

North Carolina

 

1-12597

 

56-1001967

(State or Other Jurisdiction

of Incorporation)

 

(Commission File Number)

 

(I.R.S. Employer

Identification No.)

 

1823 Eastchester Drive

High Point, North Carolina  27265

(Address of Principal Executive Offices)

(Zip Code)

 

(336) 889-5161

(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable

(Former name or address, if changed from last report)

 

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):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol

Name of exchange on which registered

Common stock, par value $0.05 per share

CULP

New York Stock Exchange

 

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 §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).  Emerging growth company

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.

 


 

Item 5.07.Submission of Matters to a Vote of Security Holders

On September 30, 2020, Culp, Inc. (the “Company”) held its annual meeting of shareholders.  At the meeting, the Company’s shareholders: (i) elected each of the seven persons listed below under Proposal 1 to serve as a director of the Company until the 2021 annual meeting, or until their successors are elected and qualified; (ii) ratified the appointment of Grant Thornton LLP as the independent auditors of the Company for fiscal 2021; and (iii) voted for a resolution approving, on an advisory basis, the compensation paid to the Company’s named executive officers (Say on Pay vote).  The following information sets forth the results of the voting at the annual meeting.

Proposal 1:  To elect seven directors to serve until the 2021 annual meeting of shareholders, or until their successors are elected and qualified

 

Director Nominee

Shares

Voted For

Shares

Withheld

Broker

Non-Votes

Robert G. Culp, IV

8,078,685

300,049

1,545,807

Perry E. Davis

8,203,455

175,279

1,545,807

Sharon A. Decker

8,225,350

153,384

1,545,807

Fred A. Jackson

8,197,817

180,917

1,545,807

Kenneth R. Larson

8,037,773

340,961

1,545,807

Kenneth W. McAllister

8,039,778

338,956

1,545,807

Franklin N. Saxon

8,083,025

295,709

1,545,807

 

Proposal 2:  To ratify the appointment of Grant Thornton LLP as the Company’s independent auditors for fiscal 2021

 

For

9,759,900

Against

163,096

Abstain

1,545

Broker Non-Votes

0

 

Proposal 3:  Advisory vote on executive compensation (Say on Pay)

 

For

8,298,763

Against

53,820

Abstain

26,151

Broker Non-Votes

1,545,807

 

2


 

SIGNATURES

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.

 

Date:  October 6, 2020

 

 

 

CULP, INC.

 

 

(Registrant)

 

 

 

By:

 

/s/ Kenneth R. Bowling

 

 

Executive Vice President,

 

 

Chief Financial Officer

 

 

3

v3.20.2
Document and Entity Information
Sep. 30, 2020
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Sep. 30, 2020
Entity Registrant Name CULP INC
Entity Central Index Key 0000723603
Entity Incorporation, State or Country Code NC
Entity File Number 1-12597
Entity Tax Identification Number 56-1001967
Entity Address, Address Line One 1823 Eastchester Drive
Entity Address, City or Town High Point
Entity Address, State or Province NC
Entity Address, Postal Zip Code 27265
City Area Code 336
Local Phone Number 889-5161
Written Communications false
Soliciting Material false
Pre commencement Tender Offer false
Pre commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Title of 12(b) Security Common stock, par value $0.05 per share
Trading Symbol CULP
Security Exchange Name NYSE