Culp Inc stake at 14.7% as 22NW updates ownership group

Accepted by SEC EDGAR 12/12/2025 - 06:24 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

22NW Fund, LP and affiliated investors report a significant stake in Culp Inc. They disclose beneficial ownership of 1,859,061 shares of Culp common stock by 22NW Fund, representing approximately 14.7% of the 12,662,784 shares outstanding as of December 10, 2025. Including shares held personally, Aron R. English is deemed to beneficially own 1,860,511 shares, or about 14.7% of the company.

The amendment notes that Alexander B. Jones ceased to be an employee of 22NW on December 10, 2025 and will no longer be part of the Section 13(d) reporting group. The filing details that 22NW’s position was purchased with working capital for about $13.53 million, while Messrs. English, Hirai-Hadley, and Jones acquired additional shares through personal funds and vested restricted stock units. The remaining reporting persons entered into a joint filing agreement on December 12, 2025 and state that there have been no transactions in Culp securities by them during the past 60 days.

Insights

Equity ownership & governance analyst

22NW reaffirms a 14.7% Culp stake and updates its reporting group.

22NW Fund, LP reports beneficial ownership of 1,859,061 Culp shares, or about 14.7% of the 12,662,784 shares outstanding as of December 10, 2025. Through various control entities, this same block is attributed to 22NW, LP, 22NW Fund GP, LLC, and 22NW GP, Inc. Aron R. English, as portfolio manager and control person, is deemed to beneficially own 1,860,511 shares when including his directly held 1,450 shares.

The filing also clarifies group composition. On December 10, 2025, Alexander B. Jones ceased employment with 22NW and, with this amendment, will no longer be part of the Section 13(d) group, though he still directly holds 9,722 shares. A joint filing agreement dated December 12, 2025 formalizes ongoing coordinated reporting among the remaining group members. The document states that there have been no transactions in Culp securities by the reporting persons in the prior 60 days, so the update is focused on ownership status and internal roles rather than trading activity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

CULP INC

(Name of Issuer)

Common Stock, par value $0.05 per share

(Title of Class of Securities)

230215105

(CUSIP Number)

Aron R. English
22NW, LP, 590 1st Ave. S, Unit C1
Seattle, WA, 98104
206-227-3078

RYAN NEBEL
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

12/10/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 230215105

1

Name of reporting person

22NW Fund, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,859,061.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,859,061.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,859,061.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.7 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 230215105

1

Name of reporting person

22NW, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,859,061.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,859,061.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,859,061.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.7 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 230215105

1

Name of reporting person

22NW Fund GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,859,061.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,859,061.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,859,061.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.7 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 230215105

1

Name of reporting person

22NW GP, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,859,061.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,859,061.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,859,061.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.7 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP No. 230215105

1

Name of reporting person

English Aron R.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,860,511.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,860,511.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,860,511.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.7 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 230215105

1

Name of reporting person

Hirai-Hadley Bryson

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 799.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 799.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

799.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.006 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 230215105

1

Name of reporting person

Jones Alexander B

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 9,722.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 9,722.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

9,722.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.08 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.05 per share
(b)	Name of Issuer: CULP INC
(c)	Address of Issuer's Principal Executive Offices: 410 W. ENGLISH ROAD 5TH FLOOR, HIGH POINT, NORTH CAROLINA , 27262.
Item 2.	Identity and Background
(a)	Item 2(a) is hereby amended to add the following: On December 10, 2025, Alexander B. Jones ceased to serve as an employee of 22NW. Accordingly, as of such date, Mr. Jones is no longer a member of the Section 13(d) group and shall cease to be a Reporting Person upon the filing of this Amendment No. 5 to the Schedule 13D. The remaining Reporting Persons will continue filing statements on Schedule 13D with respect to their beneficial ownership of securities of the Issuer to the extent required by applicable law. Each of the remaining Reporting Persons is party to the Joint Filing Agreement, as further described in Item 6.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read as follows: The Shares purchased by 22NW Fund were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 1,859,061 Shares directly owned by 22NW Fund is approximately $13,533,076, excluding brokerage commissions. The Shares directly owned by Messrs. English and Hirai-Hadley were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 1,450 Shares directly owned by Mr. English is approximately $10,150, excluding brokerage commissions. The aggregate purchase price of the 799 Shares directly owned by Mr. Hirai-Hadley is approximately $7,994, excluding brokerage commissions. Of the 9,722 Shares directly owned by Mr. Jones, (i) 525 of such Shares were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) and have an aggregate purchase price of approximately $5,380, excluding brokerage commissions, and (ii) 9,197 of such Shares were acquired upon the vesting of certain restricted stock units ("RSUs") awarded to him in connection with his service as a director of the Issuer.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 12,662,784 Shares outstanding as of December 10, 2025, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 12, 2025. As of the date hereof, 22NW Fund directly beneficially owned 1,859,061 Shares, constituting approximately 14.7% of the Shares outstanding. As of the date hereof, Mr. English directly beneficially owned 1,450 Shares, constituting 0.01% of the Shares outstanding. As of the date hereof, Mr. Hirai-Hadley directly beneficially owned 799 Shares, constituting 0.006% of the Shares outstanding. As of the date hereof, Mr. Jones directly beneficially owned 9,722 Shares, constituting 0.08% of the Shares outstanding. 22NW, as the investment manager of 22NW Fund, may be deemed to beneficially own the 1,859,061 Shares beneficially owned by 22NW Fund, constituting approximately 14.7% of the Shares outstanding. 22NW GP, as the general partner of 22NW Fund, may be deemed to beneficially own the 1,859,061 Shares beneficially owned by 22NW Fund, constituting approximately 14.7% of the Shares outstanding. 22NW Inc., as the general partner of 22NW, may be deemed to beneficially own the 1,859,061 Shares beneficially owned by 22NW Fund, constituting approximately 14.7% of the Shares outstanding. Mr. English, as the Portfolio Manager of 22NW, Manager of 22NW GP and President and sole shareholder of 22NW Inc., may be deemed to beneficially own the 1,859,061 Shares beneficially owned by 22NW Fund, which, together with the Shares he directly beneficially owns, constitutes an aggregate of 1,860,511 Shares, constituting approximately 14.7% of the Shares outstanding.
(c)	Item 5(c) is hereby amended and restated to read as follows: There have been no transactions in the securities of the Issuer by the Reporting Persons during the past 60 days.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 is hereby amended to add the following: On September 25, 2025, Mr. Jones was awarded 13,064 RSUs in connection with his service as a director of the Issuer. Each RSU vests into the right to receive one Share on the earlier of (i) the one-year anniversary of the date of grant and (ii) the next annual meeting of shareholders which is at least 50 weeks after the Issuer's immediately preceding year's annual meeting. On December 12, 2025, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons who will remain Reporting Persons subsequent to this Amendment No. 5 to the Schedule 13D agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent as required by applicable law. A copy of this agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following Exhibit: 99.1 - Joint Filing Agreement, dated December 12, 2025.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

22NW Fund, LP

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, Manager of 22NW Fund GP, LLC, its General Partner
Date:	12/12/2025

22NW, LP

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, President and Sole Shareholder of 22NW GP, Inc., its General Partner
Date:	12/12/2025

22NW Fund GP, LLC

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, Manager
Date:	12/12/2025

22NW GP, Inc.

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, President and Sole Shareholder
Date:	12/12/2025

English Aron R.

Signature:	/s/ Aron R. English
Name/Title:	ARON R. ENGLISH
Date:	12/12/2025

Hirai-Hadley Bryson

Signature:	/s/ Bryson O. Hirai-Hadley
Name/Title:	BRYSON O. HIRAI-HADLEY
Date:	12/12/2025

Jones Alexander B

Signature:	/s/ Alexander B. Jones
Name/Title:	ALEXANDER B. JONES
Date:	12/12/2025