15 unchanged sentences
Management assessed the effectiveness of our internal control over financial reporting based on the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in the 2013 Internal Control – Integrated Framework.
−Removed: Based on this assessment, management concluded that our internal control over financial reporting was effective at May 2, 2021.
−Removed: Grant Thornton LLP, an independent registered public accounting firm, has audited the consolidated financial statements as of and for the years ended May 2, 2021, May 3, 2020, and April 28, 2019 and has audited the company’s effectiveness of internal controls over financial reporting as of May 2, 2021, as stated in their report, which is included in Item 8 hereof.
+Added: Based on this assessment, management concluded that our internal control over financial reporting was effective as of May 1, 2022.
+Added: Grant Thornton LLP, an independent registered public accounting firm, has audited the consolidated financial statements as of and for the years ended May 1, 2022, May 2, 2021, and May 3, 2020, and has audited the company’s effectiveness of internal controls over financial reporting as of May 1, 2022, as stated in their reports, which are included in Item 8 and Item 9A hereof.
During the quarter ended May 1, 2022, there were no changes in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
25 unchanged sentences
July 15, 2022
−Removed: OTHE R INFORMATION
+Added: OTHER INFORMATION
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
6 unchanged sentences
MANAGEMENT AND RELATED STOCKHOLDER MATTERS
−Removed: Information with respect to the security ownership of certain beneficial owners and management is included in the company’s definitive Proxy Statement to be filed within 120 days after the end of the company’s fiscal year pursuant to Regulation 14A of the Securities and Exchange Commission, under the captions “Executive Compensation Plan Information” and “Voting Securities,” which information is herein incorporated by reference.
+Added: Information with respect to the security ownership of certain beneficial owners and management is included in the company’s definitive Proxy Statement to be filed within 120 days after the end of the company’s fiscal year pursuant to Regulation 14A of the Securities and Exchange Commission, under the captions “Executive Compensation Plan Information,” “Beneficial Owners of 5% or More of Our Common Stock,” and “Nominees, Directors, and Executive Officers,” which information is herein incorporated by reference.
The following table sets forth information as of the end of fiscal 2022 regarding shares of our common stock that may be issued upon the exercise of equity awards previously granted and currently outstanding equity awards under the company’s equity incentive and stock option plans, as well as the number of shares available for the grant of equity awards that had not been granted as of that date.
19 unchanged sentences
PRINCIPAL ACCOUNTANT FEES AND SERVICES
−Removed: Information with respect to accountants fees and services is included in the company’s definitive Proxy Statement to be filed within 120 days after the end of the company’s fiscal year pursuant to Regulation 14A of the Securities and Exchange Commission, under the caption “Fees Paid to Independent Registered Public Accounting Firm,” which information is herein incorporated by reference.
+Added: Information with respect to accountants fees and services is included in the company’s definitive Proxy Statement to be filed within 120 days after the end of the company’s fiscal year pursuant to Regulation 14A of the Securities and Exchange Commission, under the caption “Fees Paid to Independent Auditors,” which information is herein incorporated by reference.
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
4 unchanged sentences
Page of Annual
−Removed: Report of Independent Registered Public Accounting Firm
+Added: Report of Independent Registered Public Accounting Firm (PCAOB ID Number 248 )
Consolidated Balance Sheets – May 1, 2022, and May 2, 2021
−Removed: Consolidated Statements of Net Income (Loss) - for the years ended May 2, 2021, May 3, 2020, and April 28, 2019
−Removed: Consolidated Statements of Comprehensive Income (Loss) - for the years ended May 2, 2021, May 3, 2021, and April 28, 2019
−Removed: Consolidated Statements of Shareholders’ Equity – for the years ended May 2, 2021, May 3, 2020, and April 28, 2019
−Removed: Consolidated Statements of Cash Flows – for the years ended May 2, 2021, May 3, 2020, and April 28, 2019
+Added: Consolidated Statements of Net (Loss) Income - for the years ended May 1, 2022, May 2, 2021, and May 3, 2020
+Added: Consolidated Statements of Comprehensive (Loss) Income - for the years ended May 1, 2022, May 2, 2021, and May 3, 2020
+Added: Consolidated Statements of Shareholders’ Equity – for the years ended May 1, 2022, May 2, 2021, and May 3, 2020
+Added: Consolidated Statements of Cash Flows – for the years ended May 1, 2022, May 2, 2021, and May 3, 2020
Notes to Consolidated Financial Statements
9 unchanged sentences
001-12597), and is incorporated herein by reference.
−Removed: Form of Annual Incentive Award Agreement was filed as Exhibit 10.1 to the company’s Form 10-Q dated December 11, 2020 (Commission File No.
−Removed: 001-12597), and is incorporated herein by reference.
−Removed: Form of restricted stock unit agreement for restricted stock units granted to executive officers pursuant to the 2015 Equity Incentive Plan was filed as Exhibit 10.2 to the company’s Form 10-Q dated December 11, 2020 (Commission File No.
+Added: Amended and Restated Credit Agreement by and between Culp, Inc.
+Added: and Wells Fargo Bank, N.A., dated June 24, 2022, was filed as exhibit 10.1 to the company’s Form 8-K filed June 29, 2022 (Commission File no.
001-12597), and is incorporated herein by reference.
−Removed: Conformed copy of Credit Agreement by and between Culp, Inc.
−Removed: and Wells Fargo Bank, N.A., dated August 3, 2013, consolidating (i) First Amendment dated as of July 10, 2015, (ii) Second Amendment dated as of March 10, 2016, (iii) Third Amendment dated as of August 1, 2016, (iv) Fourth Amendment dated as of September 27, 2016, (v) Fifth Amendment dated as of August 13, 2018, (vi) Sixth Amendment dated as of March 27, 2020, and (vii) Seventh Amendment dated as of June 30, 2020, was filed as Exhibit 10.1 to the company’s Form 10-K for the year ended May 3, 2020, filed July 17, 2020 (Commission File No.
+Added: Form of Annual Incentive Award Agreement was filed as Exhibit 10.1 to the company’s Form 10-Q dated September 9, 2021 (Commission File No.
001-12597), and is incorporated herein by reference.
−Removed: This conformed copy was filed for ease of reference and is qualified in its entirety by each of the amendments referenced herein.
Form of restricted stock unit agreement for restricted stock units granted to executive officers pursuant to the 2015 Equity Incentive Plan was filed as Exhibit 10.2 to the company’s Form 10-Q dated September 9, 2021 (Commission File No.
−Removed: 001-12597), and incorporated herein by reference.
+Added: 001-12597), and is incorporated herein by reference.
+Added: Form of restricted stock unit agreement for restricted stock units granted to executive officers pursuant to the 2015 Equity Incentive Plan was filed as Exhibit 10.2 to the company’s Form 10-Q dated December 11, 2020 (Commission File No.
+Added: 001-12597), and is incorporated herein by reference.
Written description of Non-Employee Director Compensation was filed as Exhibit 10.2 to the company’s Form 10-Q dated March 8, 2019 (Commission File No.
12 unchanged sentences
333-207195 and 33‑13310).
+Added: Power of Attorney of John A.
+Added: Baugh, dated July 15, 2022
Power of Attorney of Perry E.
2 unchanged sentences
Decker, dated July 15, 2022
−Removed: Power of Attorney of Kenneth R.
−Removed: Larson, dated July 16, 2021
+Added: Power of Attorney of Kimberly B.
+Added: Gatling, dated July 15, 2022
Power of Attorney of Fred A.
Jackson, dated July 15, 2022
−Removed: Power of Attorney of Kenneth W.
−Removed: McAllister, dated July 16, 2021
−Removed: Certification of Co-Principal Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
−Removed: Certification of Co-Principal Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
+Added: Power of Attorney of Jonathan L.
+Added: Kelley, dated July 15, 2022
+Added: Certification of Principal Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
Certification of Principal Financial Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
−Removed: Certification of Co-Principal Executive Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
−Removed: Certification of Co-Principal Executive Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
+Added: Certification of Principal Executive Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
Certification of Principal Financial Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
−Removed: XBRL Instance Document
−Removed: XBRL Taxonomy Extension Schema Document
−Removed: XBRL Taxonomy Extension Calculation Linkbase Document
−Removed: XBRL Taxonomy Extension Definition Linkbase Document
−Removed: XBRL Taxonomy Extension Label Linkbase Document
−Removed: XBRL Taxonomy Extension Presentation Linkbase Document
+Added: Inline XBRL Instance Document
+Added: Inline XBRL Taxonomy Extension Schema Document
+Added: Inline XBRL Taxonomy Extension Calculation Linkbase Document
+Added: Inline XBRL Taxonomy Extension Definition Linkbase Document
+Added: Inline XBRL Taxonomy Extension Label Linkbase Document
+Added: Inline XBRL Taxonomy Extension Presentation Linkbase Document
+Added: Cover Page Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibits 101).
The exhibits to this Form 10-K are filed at the end of this Form 10-K immediately preceded by an index.
8 unchanged sentences
333-207195 and 33-13310).
+Added: Power of Attorney of John A.
+Added: Baugh, dated July 15, 2022
Power of Attorney of Perry E.
2 unchanged sentences
Decker, dated July 15, 2022
−Removed: Power of Attorney of Kenneth R.
−Removed: Larson, dated July 16, 2021
+Added: Power of Attorney of Kimberly B.
+Added: Gatling, dated July 15, 2022
Power of Attorney of Fred A.
Jackson, dated July 15, 2022
−Removed: Power of Attorney of Kenneth W.
−Removed: McAllister, dated July 16, 2021
−Removed: Certification of Co- Principal Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
−Removed: Certification of Co-Principal Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
+Added: Power of Attorney of Jonathan L.
+Added: Kelly, dated July 15, 2022
+Added: Certification of Principal Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
Certification of Principal Financial Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
−Removed: Certification of Co-Principal Executive Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
−Removed: Certification of Co-Principal Executive Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
+Added: Certification of Principal Executive Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
Certification of Principal Financial Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
−Removed: XBRL Instance Document
−Removed: XBRL Taxonomy Extension Schema Document
−Removed: XBRL Taxonomy Extension Calculation Linkbase Document
−Removed: XBRL Taxonomy Extension Definition Linkbase Document
−Removed: XBRL Taxonomy Extension Label Linkbase Document
−Removed: XBRL Taxonomy Extension Presentation Linkbase Document
+Added: Inline XBRL Instance Document
+Added: Inline XBRL Taxonomy Extension Schema Document
+Added: Inline XBRL Taxonomy Extension Calculation Linkbase Document
+Added: Inline XBRL Taxonomy Extension Definition Linkbase Document
+Added: Inline XBRL Taxonomy Extension Label Linkbase Document
+Added: Inline XBRL Taxonomy Extension Presentation Linkbase Document
+Added: Cover Page Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibits 101).
Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, CULP, INC.
1 unchanged sentence
Chief Executive Officer
−Removed: (co-principal executive officer)
+Added: (principal executive officer)
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on the 15 th day of July 2022.
Executive Chairman
−Removed: (co-principal executive officer)
(Chairman of the Board of Directors)
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.