Company: CULP
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0000950170-25-035191
Chunk: 116

Company: CULP INC
Filing Date: 2025-03-07
Form: 10-Q
Item: Item 5
Chunk 116
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During the three months ended January 26, 2025, none of the company's directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934) adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" (as such terms are defined in Item 408 of Regulation S-K).

Appointment of Principal Accounting Officer 

Effective March 5, 2025, the Board of Directors of the company appointed Ronald S. Chandler as the company’s Vice President and Corporate Controller and to serve as the company’s principal accounting officer. Mr. Chandler will report to Kenneth R. Bowling, the company’s Executive Vice President, Chief Financial Officer, and Treasurer, and, in connection with Mr. Chandler’s appointment, Mr. Bowling will no longer serve as the Company’s principal accounting officer.

Mr. Chandler, age 46, previously served as the company’s Corporate Controller since July 2021, and began his tenure with the company as Assistant Corporate Controller in January 2014.  Prior to joining the company, Mr. Chandler served as Accounting Manager for Inmar, Inc. from 2010 to 2014 and in audit associate roles with Grant Thornton LLP from 2006 to 2010.  Mr. Chandler earned a bachelor’s degree in Business Administration, with a concentration in Finance, from Western Carolina University and a master’s degree in Accounting from the University of North Carolina at Greensboro.  Mr. Chandler is a certified public accountant.

 In connection with his appointment, Mr. Chandler’s annual salary was increased from $149,900 to $175,000.

There is no arrangement or understanding pursuant to which Mr. Chandler was appointed as principal accounting officer of the company. There are no family relationships between Mr. Chandler and any of the company’s directors or executive officers, and there are no related party transactions involving Mr. Chandler that are reportable under Item 404(a) of Regulation S-K.

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