FRANKLIN N. SAXON - Corporate Board Profile

CULP INC

Filing Date	Source Excerpt
2011-08-18	FRANKLIN N. SAXON has been employed by the Company since 1983, serving in various capacities, including chief financial officer from 1985 to 1998. In 1998, Mr. Saxon was elected president, Culp Velvets/Prints division. From 2001 through 2004, Mr. Saxon served as executive vice president, chief financial officer and president, Culp Velvets/Prints division. The Board elected Mr. Saxon president and chief operating officer of the Company in 2004. He was elected as president and chief executive officer in May 2007.
2012-08-15	The Executive Committee, the members of which are Messrs. Culp (Chairman), Saxon and McAllister... Franklin N. Saxon has been employed by the Company since 1983, serving in various capacities, including chief financial officer from 1985 to 1998... He was elected as president and chief executive officer in 2007.
2013-08-15	FRANKLIN N. SAXON has been employed by the Company since 1983, serving in various capacities, including chief financial officer from 1985 to 1998. In 1998, Mr. Saxon was elected president, Culp Velvets/Prints division. From 2001 through 2004, Mr. Saxon served as executive vice president, chief financial officer and president, Culp Velvets/Prints division. The Board elected Mr. Saxon president and chief operating officer of the Company in 2004. He was elected as president and chief executive officer in 2007.
2014-08-15	Franklin N. Saxon has been employed by the Company since 1983, serving in various capacities, including chief financial officer from 1985 to 1998. In 1998, Mr. Saxon was elected president, Culp Velvets/Prints division. From 2001 through 2004, Mr. Saxon served as executive vice president, chief financial officer and president, Culp Velvets/Prints division. The Board elected Mr. Saxon president and chief operating officer of the Company in 2004. He was elected as president and chief executive officer in 2007. ... The Executive Committee, the members of which are Messrs. Culp (Chairman), Saxon and McAllister, may exercise the full authority of the Board of Directors when the Board is not in session... The following table shows the total compensation we paid for fiscal 2014 to our named executive officers.
2015-08-12	During fiscal 2015, we paid our non-employee directors the following compensation: an annual retainer of $55,000 for the lead director and $50,000 for the other non-employee directors; a grant under our 2007 equity incentive to each director of 1,000 shares of common stock. The following table shows the total compensation earned by our non-employee directors in fiscal 2015 for their service on our board. Patrick B. Flavin 50,000 17,950 -- 67,950; Kenneth R. Larson 50,000 17,950 -- 67,950; Kenneth W. McAllister 55,000 17,950 -- 72,950.
2016-08-19	During fiscal 2016, we paid our non-employee directors the following compensation: an annual retainer of $55,000 for the lead director and $50,000 for the other non-employee directors; a grant under our 2015 equity incentive plan of 1,000 shares of common stock to our directors that were participating on our Board at October 1, 2015. Granted shares of common stock were measured at a fair market value of $31.77 per share based upon the closing price of our common stock at the date of grant (October 1, 2015). The following table shows the total compensation earned by our non-employee directors in fiscal 2016 for their service on our board. Name: Franklin N. Saxon, Fees Earned or paid in cash: 0 (he is an employee), Stock Awards: 0, Option Awards: 0, Total: 0.
2017-08-18	FRANKLIN N. SAXON has been employed by the Company since 1983, serving in various capacities, including chief financial officer from 1985 to 1998. In 1998, Mr. Saxon was elected president, Culp Velvets/Prints division. From 2001 through 2004, Mr. Saxon served as executive vice president, chief financial officer and president, Culp Velvets/Prints division. The Board elected Mr. Saxon president and chief operating officer of the Company in 2004. He was elected as president and chief executive officer in 2007.
2018-08-17	FRANKLIN N. SAXON has been employed by the Company since 1983, serving in various capacities, including chief financial officer from 1985 to 1998. In 1998, Mr. Saxon was elected president, Culp Velvets/Prints division. From 2001 through 2004, Mr. Saxon served as executive vice president, chief financial officer and president, Culp Velvets/Prints division. The Board elected Mr. Saxon president and chief operating officer of the Company in 2004. He was elected as president and chief executive officer in 2007.
2019-08-22	Franklin N. Saxon*, 67, Chairman and Chief Executive Officer, Culp, Inc., EC (C), Chairman of the Board of Directors. Compensation Table shows total compensation for 2019 as $60,000 for non-employee director fees.
2020-08-26	Franklin N. Saxon* 68 1987 Executive Chairman, Culp, Inc. No EC (C) ... Mr. Saxon was elected as Executive Chairman effective January 1, 2020. He served as Chairman and Chief Executive Officer through December 31, 2019. ... The Executive Committee consists of Messrs. Saxon (Chairman) and McAllister. ... The following table shows the total compensation we paid for fiscal 2020 to our named executive officers. Franklin N. Saxon Executive Chairman 2020 Salary 476,042 Stock Awards 514,880 Non-Equity Incentive Plan Compensation 0 Change in Pension Value and Nonqualified Deferred Compensation Earnings 91,694 All Other Compensation 203,940 Total 1,286,556.
2021-08-25	The following table shows the total compensation earned by our non-employee directors in fiscal 2021 for their service on our Board. Fees Earned or paid in cash: $50,417; Stock Awards: $55,000; Total: $105,417. Executive Chairman (3) Mr. Saxon was elected as Executive Chairman effective January 1, 2020.
2022-08-24	Franklin N. Saxon has been employed by the Company since 1983... The Board elected Mr. Saxon president and chief operating officer of the Company in 2004. He was named chief executive officer in 2007 and was elected as vice chairman of the Board in 2018. In April 2019, the Board elected Mr. Saxon as chairman of the Board, and effective January 1, 2020, he was named as executive chairman of the Company. Effective September 1, 2022, Mr. Saxon’s role with the Company is changing to non-executive chairman of the Board... The Executive Committee currently consists of Messrs. Saxon (Chairman), Culp, and Jackson.
2023-08-24	The Board currently knows of no reason why any of the nominees listed below is likely to become unavailable. FRANKLIN N. SAXON, age 71, was employed by the Company from 1983 to 2022... In April 2019, the Board elected Mr. Saxon as chairman of the Board... In September 2022, Mr. Saxon’s role with the Company changed to non-executive chairman of the Board... The Executive Committee currently consists of Messrs. Saxon (Chair), Culp, and Jackson... The following table shows the total compensation earned by our directors in fiscal 2023, other than Mr. Culp... Franklin N. Saxon... Total: $368,261.
2024-08-22	Mr. Saxon brings extensive business, managerial, and leadership experience to the Board. With over 40 years of experience with the Company, Mr. Saxon provides the Board with a vital understanding and appreciation of the Company’s business. His strong leadership skills have been demonstrated through his services as chief executive officer from 2007 through 2019 and his service as a director since 1987, including as chairman beginning in 2019. Mr. Saxon also has extensive financial management expertise, having worked in public accounting before joining the Company, and serving as the Company’s chief financial officer for many years.