SEC Form 4 · accession 0001404058-16-000047
CULP INC · CULP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Franklin N Saxon
Officer — Chief Executive Officer · Director
Period of report
Mar 29, 2016
Accepted (ET)
Mar 31, 2016 · 10:37 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000723603
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Mar 29, 2016 | M | 10,000 | $1.88 | A | 135,933 | D | |
| Common Stock | holding | — | — | — | 258 | I | 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Stock Option (Right to Buy)F1 | $1.88 | Mar 29, 2016 | M | 10,000 | D | Jan 7, 2014 | Jan 7, 2019 | Common Stock | 10,000 | 0 | D |
Explanation of responses
- F1Employee stock option (right to buy) granted pursuant to the Culp, Inc. 2007 Equity Incentive Plan in reliance upon exemption provided by Rule 16b-3(d).
- F2The price represents the option price pertaining to the acquisition of the company's common stock in connection with the stock option exercise disclosed in Table II.