CULP Director John Collier Receives 12,941 RSUs

What Happened

• John Douglas Collier, a director of Culp, Inc. (CULP), had a derivative conversion reported on 2026-09-23 for 13,190 shares at $0 (reported both as an acquisition and a disposition of a derivative), and on 2026-09-24 he was granted 12,941 restricted stock units (RSUs) at $0. These RSUs are contingent rights to receive common stock if he remains a director through specified vesting/service dates. The transactions involve awards/derivative activity rather than open-market buy/sell activity.

Key Details

• Transaction dates and types:
  • 2026-09-23: Exercise/conversion of a derivative (code M) — 13,190 shares @ $0 (acquired) and 13,190 shares @ $0 (disposed, derivative).
  • 2026-09-24: Grant/award (code A) — 12,941 restricted stock units @ $0 (acquired).
• Price/Value: All entries reported at $0 (no cash paid or received in the filing).
• Vesting/contingency: Footnotes state these are contingent rights/RSUs that vest only if Collier remains a director through the earlier of (i) one year from grant or (ii) the next annual meeting that meets timing conditions.
• Clerical correction: A prior Form 3 (9/29/2025) misreported a number (previously shown as 13,064); this filing corrects that (Footnote F2).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Timeliness: Report filed 2026-09-24 for activity through 2026-09-23 — not indicated as late.

Context

• These entries reflect award and derivative activity (RSUs/contingent rights) rather than purchases or sales in the open market; such awards are common compensation for directors and are contingent on continued service. The filing does not indicate an immediate sale of underlying shares; the RSUs only convert to shares if vesting/service conditions are met.