8-K
filed September 28, 2023, 7:59 PM ET
ticker CULP
CIK 0000723603
other
confidence high
sentiment neutral
materiality 0.15
Culp shareholders elect all 8 director nominees, approve say-on-pay and equity plan at annual meeting
CULP INC
- Directors Baugh, Culp IV, Davis, Decker, Gatling, Jackson, Kelly, Saxon each elected; votes for ranged from 7.96M to 9.14M.
- Ratification of Grant Thornton LLP as independent auditor for FY2024 approved with 10.56M for, 291K against.
- Advisory say-on-pay vote approved with 6.42M for, 3.07M against; 1.27M broker non-votes.
- Future say-on-pay frequency set to 1 year with 9.0M votes for one-year; board adopts annual frequency.
- Amended and Restated Equity Incentive Plan approved with 7.27M for, 2.23M against.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CULP INC shareholders approved Approval of the Amended and Restated Equity Incentive Plan at the 2023-09-27 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-09-27
Exact text from the filing
Proposal 5: To approve the Amended and Restated Equity Incentive Plan For Against Abstain Broker Non-Votes 7,271,006 2,225,409 96,180 1,267,968
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CULP INC shareholders approved Advisory vote on the frequency of future Say-on-Pay votes at the 2023-09-27 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-09-27
Exact text from the filing
Proposal 4: Advisory vote on the frequency of future Say-on-Pay Votes 1 Year 2 Years 3 Years Abstain Broker Non-Votes 8,997,258 10,742 553,018 31,577 1,267,968
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CULP INC shareholders approved Ratification of Grant Thornton LLP as the Company’s independent auditors for fiscal 2024 at the 2023-09-27 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-09-27
Exact text from the filing
Proposal 2: To ratify the appointment of Grant Thornton LLP as the Company’s independent auditors for fiscal 2024 For Against Abstain Broker Non-Votes 10,559,423 290,849 10,291 —
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CULP INC shareholders approved Advisory vote on the Company’s named executive officers’ compensation as disclosed in the 2023 Proxy Statement (Say-on-Pay) at the 2023-09-27 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-09-27
Exact text from the filing
Proposal 3: Advisory vote on the Company’s named executive officers’ compensation as disclosed in the 2023 Proxy Statement (Say-on-Pay) For Against Abstain Broker Non-Votes 6,420,642 3,073,857 98,096 1,267,968
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CULP INC shareholders approved Election of eight directors to serve until the 2024 annual meeting of shareholders, or until their successors are elected and qualified at the 2023-09-27 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-09-27
Exact text from the filing
Item 5.07 Submission of Matters to a Vote of Security Holders. On September 27, 2023, Culp, Inc. (the “Company”) held its annual meeting of shareholders. At the meeting, the Company’s shareholders: (i) elected each of the eight persons listed below under Proposal 1 to serve as a director of the Company until the 2024 annual meeting, or until their successors are elected and qualified; (ii) ratified the appointment of Grant Thornton LLP as the independent auditors of the Company for fiscal 2024; (iii) voted for a resolution approving, on an advisory basis, the compensation paid to the Company’s named executive officers (a “Say-on-Pay” vote); (iv) voted to recommend holding future Say-on-Pay votes at a frequency of every one year; and (v) approved the Amended and Restated Equity Incentive Plan.
View on SEC.gov
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