UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) June 15, 2005
-------------
Culp, Inc.
----------
(Exact Name of Registrant as Specified in its Charter)
North Carolina 0-12781 56-1001967
------------------------------ --------------- -------------------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1823 Eastchester Drive
High Point, North Carolina 27265
----------------------------------------------------
(Address of Principal Executive Offices)
(Zip Code)
(336) 889-5161
--------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
Not Applicable
-------------------------------------------------------------
(Former name or address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On June 15, 2005, the Compensation Committee of the Board of Directors of
Culp, Inc. (the "Registrant") set base salaries for the Registrant's 2006 fiscal
year for certain executive officers, as follows: Robert G. Culp, III - $416,000;
Franklin N. Saxon - $300,000; Kenneth M. Ludwig - $186,625; Robert G. Culp, IV -
$175,000; and Boyd B. Chumbley - $150,000. These salaries are unchanged from the
salaries that were in effect during the Registrant's 2005 fiscal year.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: June 21, 2005
Culp, Inc.
By: /s/ Kenneth M. Ludwig
---------------------
Kenneth M. Ludwig
Senior Vice President