Company: CULP
Filing Date: 2025-08-15
Form Type: DEF 14A
Source: 0000950170-25-109242
Chunk: 24

Company: CULP INC
Filing Date: 2025-08-15
Form: DEF 14A
Chunk 24
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 days after July 29, 2025, upon the vesting of service-based restricted stock units, subject to his continued service as a director through the vesting date.

Includes 9,197 shares that Mr. Jones may acquire within 60 days after July 29, 2025, upon the vesting of service-based restricted stock units, subject to his continued service as a director through the vesting date. Does not include shares beneficially owned by the Investor Group (as defined below) other than those directly beneficially owned by Mr. Jones. Mr. Jones is Vice President, Senior Research Analyst at 22NW, LP.

Includes approximately 18,170 shares owned by Mr. Bowling through the Company’s 401(k) plan (estimated number of shares based on calculation from information reported by 401(k) plan administrator).

Includes 12,557 shares that Mr. Bruno may acquire within 60 days after July 29, 2025, upon the vesting of service-based restricted stock units, subject to his continued service with the Company through the vesting date.

<div align='center'>The Board of Directors recommends a vote "FOR" the eight nominees listed above as directors.

17

CORPORATE GOVERNANCE</div>

Corporate Governance Guidelines and Committee Charters

The Board has approved Corporate Governance Guidelines designed to provide effective governance of the Company’s business and affairs for the benefit of shareholders. The Corporate Governance Guidelines are available on the Company’s website at www.culp.com in the “Investor Relations/Governance” section and are available in print to any shareholder upon request. In addition, the charters for the Audit Committee, Compensation Committee, and Corporate Governance and Nominating Committee are also included in the “Investor Relations/Governance” section of the Company’s website, www.culp.com and are available in print to any shareholder upon written request directed to our corporate secretary, at the Company's principal executive offices located at CULP Innovation Center at Congdon Yards, 410 W. English Rd. 5thFloor, High Point, North Carolina 27262.

Director Independence

The Board believes that independent directors should comprise a majority of the Board, and the Company’s Corporate Governance Guidelines (as well as New York Stock Exchange ("NYSE") rules) require that a majority of the Company’s Board be independent. To be considered independent, a director must be determined, by resolution of the Board as a whole, to have no material relationship with the Company other than as a director.