Company: CULP
Filing Date: 2025-08-15
Form Type: DEF 14A
Source: 0000950170-25-109242
Chunk: 73

Company: CULP INC
Filing Date: 2025-08-15
Form: DEF 14A
Chunk 73
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 as described above. The number of restricted stock units granted is determined using the closing price of the Company's common stock on the date of grant, with partial units rounded to the nearest whole number of units. This resulted in a grant of 10,033 restricted stock units to Mr. Jackson, and 9,197 restricted stock units to each of Ms. Decker, Mr. Baugh, Ms. Gatling, and Mr. Jones on September 26, 2024, based upon a closing price of $5.98 per share at the date of grant. Mr. Tyson, who joined the Board on March 5, 2025, did not receive an equity award in fiscal 2025. Mr. Saxon served as an executive officer of the Company until September 1, 2022, and provided advice, strategic planning, and consulting services to the Company as an independent contractor, in addition to serving as chairman of the Board, in fiscal 2025. As such, in fiscal 2025, Mr. Saxon received for all his services to the Company an aggregate amount of $240,000, paid in cash in quarterly installments. Mr. Saxon did not receive any equity grants in fiscal 2025. Prior to resigning as an executive officer of the Company, Mr. Saxon did not receive any fees for his service as a director to the Company, and Mr. Saxon did not receive any severance payments in connection with his departure from his role as an executive officer of the Company. Mr. Saxon ceased to serve as strategic advisor/consultant to the Company at the conclusion of fiscal 2025, and for fiscal 2026 Mr. Saxon will be paid an aggregate amount of $200,000, payable in cash in quarterly installments, for his service as chairman of the Board. The following table shows the total compensation earned by our directors in fiscal 2025, other than Mr. Culp, who did not receive any additional compensation for his service as director.

|                     |     | Fees earned or 
 paid in cash   |        |     |    | Stock  
 Awards |        |     | Nonqualified deferred compensation earnings |        |     | All other compensation |         |     | Total |         |
| Name                |     | -$             |        |     |    | -$     |        |     | -$                                          |        |     | -$                     |         |     | -$    |         |
| (a)                 |