Company: CULP
Filing Date: 2025-06-20
Form Type: 11-K
Source: 0000950170-25-088317
Chunk: 7

Company: CULP INC
Filing Date: 2025-06-20
Form: 11-K
Chunk 7
---
 |            |     |             |        |     |              |   |     |       |            |
| Common and collective trust fund                          | ﻿                                                       |            |     | ﻿           |        |     | ﻿            |   |     | $     |  3,703,050 |
| Total investments at fair value                           | ﻿                                                       |            |     | ﻿           |        |     | ﻿            |   |     | $     | 41,675,189 |

NOTE D - EXEMPT PARTY-IN-INTEREST TRANSACTIONS During the years ended December 31, 2024, 2023, and 2022, Plan investments include shares of the Company’s common stock and therefore, transactions associated with the Company’s common stock qualify as party-in-interest. Commencing on January 1, 2021 , Empower Retirement, a wholly owned subsidiary of Great West Life & Annuity Insurance Company has served as Plan administrator during the years ended December 31, 2024, 2023, and 2022. NOTE E – ADMINISTRATIVE EXPENSES Administrative fees paid directly by the Plan to Raymond James Financial Services for investment advisory and other administrative services were $ 86,499 , $ 82,400 , and $ 86,965 during the years ended December 31, 2024, 2023 and 2022, respectively. Administrative fees paid directly by the Plan to Smith Leonard PLLC for audit services were $ 1,000 , $ 2,000 and $ 15,000 during the years ended December 31, 2024, 2023, and 2022, respectively. Administrative fees paid directly by the Plan to GreerWalker LLP for audit services were $ 27,000 and $ 25,000 during the years ended December 31, 2024 and 2023, respectively. Administrative fees paid directly by the Plan to Empower Annuity Insurance Company of America were $ 13,950 , $ 12,594 and $ 7,025 , during the years ended December 31, 2024, 2023 and 2022, respectively. Administrative fees paid directly by the Plan to Great-West Life & Annuity Insurance Company was $ 4,540 during the year ended December 31, 2022. NOTE F - PLAN TERMINATION Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any