Culp (CULP) Form 3 CULP / Teresa Atkins Huffman ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:	3235-0104
Estimated average burden
hours per response:	0.5

1. Name and Address of Reporting Person^*

Huffman Teresa Atkins

(Last) (First) (Middle)

1823 EASTCHESTER DRIVE

(Street)

HIGH POINT NC 27265

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/22/2021

3. Issuer Name and Ticker or Trading Symbol
CULP INC [ CULP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Senior VP, Human Resources

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,216	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units(1)	(2)	(2)	Common Stock	2,682(2)	0	D
Restricted Stock units(1)	(3)	(3)	Common Stock	2,550(3)	0	D

Explanation of Responses:

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

2. These time-based restricted stock units could vest at one share of common stock per unit (2,682 total shares) if the recipient remains employed by the company at the end of the three-year vesting period beginning August 6, 2020 and ending August 6, 2023, per the terms of the award agreement.

3. 1/2 of these restricted stock units (850 RSUs) could vest and convert into the right to receive one share of common stock per RSU (850 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 (850 RSUs) could vest at up to 2 shares of common stock (1,700 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.

Remarks:

Exhibit List Exhibit 24 - Power of Attorney - CE

	/s/ Ashley C. Durbin, Attorney-in-Fact	08/03/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.