Company: CULP
Filing Date: 2025-08-15
Form Type: DEF 14A
Source: 0000950170-25-109242
Chunk: 35

Company: CULP INC
Filing Date: 2025-08-15
Form: DEF 14A
Chunk 35
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The current members of the Strategy Committee, which was established in the Company's fiscal year 2026, are Mr. Culp, Mr. Jones, and Mr. Tyson. Pursuant to the terms of the Second Cooperation Agreement, Mr. Collier will be appointed to serve on the Strategy Committee if he is elected to serve on the Board at the Annual Meeting. The Strategy Committee develops and makes recommendations to the Board regarding strategic matters and initiatives that it believes will drive growth in the Company’s business and create value for all of the Company’s shareholders, as well as such other matters as the Board may direct.

Attendance

During the fiscal year ended April 27, 2025, the Board held 14 meetings; the Audit Committee held 10 meetings; the Compensation Committee held seven meetings; and the Corporate Governance and Nominating Committee held eight meetings. Each Board member then on the Board attended at least 75% of the aggregate number of the meetings of the Board and of the committees on which he or she then served.

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EXECUTIVE COMPENSATION For fiscal 2025, the Company qualifies as a smaller reporting company under the SEC's definition of “smaller reporting company.” The Company has, nonetheless, opted to provide many of the compensation-related disclosures that are required for larger public companies and that the Company has historically provided. However, among other smaller reporting company accommodations, the Company is disclosing compensation for only three named executive officers (comprising (i) the Company’s principal executive officer, and (ii) the two most highly compensated executive officers other than the principal executive officer who were serving as executive officers as of April 27, 2025), as permitted by the disclosure requirements applicable to smaller reporting companies. COMPENSATION DISCUSSION AND ANALYSIS This Compensation Discussion and Analysis section is intended to give an overview of our compensation program and policies, the material compensation decisions we have made under our program and policies with respect to our named executive officers (our “NEOs”), and the material factors that we considered in making those decisions. The NEOs of the Company during fiscal 2025 were as follows:

| Name               |     | Title                                                                      |
| Robert G. Culp, IV |     | President and Chief Executive Officer                                      |
| Kenneth R. Bowling |     | Executive Vice President, Chief Financial Officer, and Treasurer           |
| Thomas M. Bruno    |     | Chief Commercial Officer (formerly President, Culp Home Fashions Division) |

The Compensation Committee