CULP INC — Form 10-K

Culp Inc. describes its authorized capital: 40 million common shares ($0.05 par) and 10 million preferred shares ($0.05 par). The company maintains antitakeover provisions including 2/3 shareholder vote requirement for mergers/asset sales (unless 60% board approval), classified board election rules, and advance notice requirements (90–120 days). No material changes to capital structure, preferred stock, or governance are reported; this is standard boilerplate disclosure of existing terms. Subsidiaries listed: operations in China, Vietnam, Haiti (Cayman-domiciled), Canada, and North Carolina.