Culp (CULP) Former Director Fred A. Jackson Converts 14,389 RSUs to Shares

What Happened

• Fred A. Jackson, a former director of Culp, Inc. (CULP), had 14,389 restricted stock units (RSUs) convert into 14,389 shares on 2026-09-23. The Form 4 reports the exercise/conversion (code M) with an acquisition at $0.00 and a corresponding derivative disposition also recorded at $0.00.
• The filing shows no cash paid for the conversion (reported $0) — this reflects issuance on vesting/conversion of RSUs rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-09-23; Form 4 filed 2026-09-24 (timely).
• Reported amounts: 14,389 shares acquired via conversion and 14,389 shares reported as derivative disposition (both at $0.00).
• Shares owned after transaction: the filing does not state total common shares held by the reporting person after conversion.
• Relevant footnotes: F1 = contingent right to receive common stock; F3 = these RSUs represent the right to receive 14,389 shares if Jackson remained a director as of the earlier of (i) the one-year anniversary of the grant or (ii) the next annual meeting that is at least 50 weeks after the prior meeting. F2 notes a prior clerical error (previous Form 4 listed 14,252). F4 confirms Jackson holds no additional RSUs with the same vesting date.
• Filing timeliness: filed one day after the transaction date; not indicated as late.

Context

• This was a conversion/vesting of RSUs (a non-cash issuance) rather than a market buy or sale. Such conversions reflect compensation/award vesting rules and do not by themselves indicate an insider buying or selling shares in the market.
• The dual entries (acquired and derivative disposed) reflect the mechanics of converting contingent RSU rights into issued shares; the record shows no cash transaction or immediate open-market sale reported.