Culp, Inc. (NYSE:CFI) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 – Submission of Matters to a Vote of Security Holders
Culp, Inc. (NYSE:CFI) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07.Submission of Matters to a Vote of Security Holders.
On September 20, 2017, Culp, Inc. (the “Company”) held its annual meeting of shareholders. At this meeting, the Company’s shareholders: (i) elected each of the six persons listed below under Proposal 1 to serve as a director of the Company until the 2018 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 2018; (iii) voted for a resolution approving, on an advisory basis, the compensation paid to the Company’s named executive officers (Say on Pay vote); and (iv) voted on an advisory basis, to hold Say on Pay votes every year. The following information sets forth the results of the voting at the annual meeting.
Proposal 1: To elect six directors to serve until the 2018 annual meeting of shareholders, or until their successors are elected and qualified
|
Director Nominee |
Shares Voted For |
Shares Withheld |
Broker Non-Votes |
|
Robert G. Culp, III |
10,733,827 |
267,004 |
586,541 |
|
Patrick B. Flavin |
9,375,769 |
1,625,062 |
586,541 |
|
Fred A. Jackson |
10,874,130 |
126,701 |
586,541 |
|
Kenneth R. Larson |
10,857,184 |
143,647 |
586,541 |
|
Kenneth W. McAllister |
10,698,774 |
302,057 |
586,541 |
|
Franklin N. Saxon |
10,936,950 |
63,881 |
586,541 |
Proposal 2: To ratify the appointment of Grant Thornton LLP as the Company’s independent auditors for fiscal 2018
|
For |
11,526,277 |
|
Against |
59,259 |
|
Abstain |
1,836 |
|
Non-Votes |
– |
Proposal 3: Advisory vote on executive compensation (Say on Pay)
|
For |
10,915,311 |
|
Against |
69,546 |
|
Abstain |
15,974 |
|
Non-Votes |
586,541 |
Proposal 4: Advisory vote on frequency of Say on Pay votes on executive compensation
|
1 Year |
8,881,732 |
|
2 Years |
33,810 |
|
3 Years |
2,081,708 |
|
Abstain |
3,581 |
|
Non-Votes |
586,541 |
About Culp, Inc. (NYSE:CFI)
Culp, Inc. is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture. The Company operates through two segments: mattress fabrics (Culp Home Fashions) and upholstery fabrics. Its mattress fabrics segment manufactures and markets mattress fabric and mattress covers to bedding manufacturers. Its upholstery fabrics segment markets fabrics for residential and commercial furniture, including jacquard woven fabrics, velvets, microdenier suedes, woven dobbies, knitted fabrics, piece-dyed woven products and polyurethane leather look fabrics. The Company markets a range of fabrics in the categories, including fabrics produced at its manufacturing facilities and fabrics produced by other suppliers.
