Company: CULP
Filing Date: 2025-06-20
Form Type: 11-K
Source: 0000950170-25-088317
Chunk: 8

Company: CULP INC
Filing Date: 2025-06-20
Form: 11-K
Chunk 8
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 time and to terminate the Plan subject to the provisions of ERISA.

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NOTE G - TAX STATUS The Plan has adopted a prototype plan document sponsored by the Plan’s trustee. The Internal Revenue Service has determined and informed the Plan’s trustee by a letter dated June 30, 2020 , that the Plan is designed and in compliance with the applicable requirements of the IRC. The Plan administrator and the Plan’s tax counsel believe that the Plan is designed and currently being operated in compliance with the applicable requirements of the IRC and, therefore, believe that the Plan is qualified, and the related trust is tax-exempt. GAAP requires management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the taxing authorities. The Plan has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2024, and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits of any tax periods in progress.

NOTE H - RISKS AND UNCERTAINTIES The Plan invests in various investment securities. Investment securities are exposed to various risks, such as inflation, unemployment, interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the
values of investment securities will occur in the near term and that such changes could materially affect the participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

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CULP, INC.EMPLOYEES’ RETIREMENT BUILDER PLAN

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

EIN:56-1001967

PLAN NUMBER:001

December 31, 2024

| (a) |     | (b) Borrower, Lessor or Similar Party                 |     | (c) Description of Investment |           |     |       |     | (d) Cost ** |   |     | Value |            |
|     |     | MFS Moderate Allocation Fund                          |     |                               |   306,024 |     | units |     |             | — |