Culp Sets 2026 Annual Meeting; Board to Elect 7 Directors; No Exec Bonuses

Culp, Inc. announced its 2026 Annual Meeting of Shareholders for September 23, 2026, where shareholders will vote on the election of seven directors, ratification of Grant Thornton LLP as independent auditors, and an advisory vote on executive compensation. The board size will be reduced from eight to seven. Notably, due to challenging market conditions and below-expectation financial results in fiscal 2026, named executive officers received no annual cash incentive compensation, no performance-based equity awards, and no salary increases. The company emphasized its pay-for-performance philosophy and strategic initiatives to enhance shareholder value despite a difficult operating environment.