| 1 | NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) |
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Paulette R. Baum Revocable Living Trust u/a/d 7/21/98 (C/O John B. Baum, Trustee)
00-0000000
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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| (a) o | |
| (b) o | |
| 3 | SEC USE ONLY |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
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United States of America
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| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER |
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677,000
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| 6 | SHARED VOTING POWER | |
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N/A
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| 7 | SOLE DISPOSITIVE POWER | |
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677,000
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| 8 | SHARED DISPOSITIVE POWER | |
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N/A
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| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
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677,000
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| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |
| o | |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| 5.12% | |
| 12 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) |
| IN |
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FOOTNOTES
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This Amendment No. 4 amends the Statement on Schedule 13G filed by the Reporting Person with the United States Securitites and Exchange Commission on February 23, 2010.
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Item 1.
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(a)
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Name of Issuer
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Culp, Inc.
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(b)
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Address of Issuer's Principal Executive Offices
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1823 Eastchester Drive
High Point, NC 27265
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Item 2.
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(a)
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Name of Person Filing
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Paulette R. Baum Revocable Living Trust u/a/d 7/21/98 (the "Reporting Person")
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(b)
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Address of Principal Business Office or, if none, Residence
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30201 Orchard Lake Road
Suite 107
Farmington Hills, MI 48334
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(c)
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Citizenship
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The Reporting Person is a citizen of the United States of America.
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(d)
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Title of Class of Securities
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Common Stock, par value $0.05 per share
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(e)
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CUSIP Number
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230215 10 5
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Item 3.
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If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
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(a)
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o
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Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
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(b)
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o
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Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
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(c)
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o
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Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
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(d)
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o
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Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
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(e)
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o
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An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
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(f)
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o
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An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
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(g)
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A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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(h)
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A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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(i)
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A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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(j)
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A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J).
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Item 4.
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Ownership.
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(a)
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Amount beneficially owned:
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The Reporting Person directly owns 677,000 shares, (consisting of 590,000 shares in the Trust, and 87,000 shares related IRAs over which the reporting person has direct control).
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(b)
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Percent of class:
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5.12%, consisting of: (1) shares owned directly by the Reporting Person, which represent approximately 5.12% of the issued and outstanding shares of Common Stock of the Issuer. The foregoing percentages are calculated based on 13,213,939 shares of Common Stock outstanding as of January 30, 2011, as reported in the issuer's annual report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2011.
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(c)
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Number of shares as to which the person has:
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(i)
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Sole power to vote or to direct the vote:
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The Reporting Person has sole voting power over 677,000 shares which he owns directly.
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(ii)
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Shared power to vote or to direct the vote:
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N/A
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(iii)
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Sole power to dispose or to direct the disposition of:
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The Reporting Person has sole dispositive power over 590,000 shares which he owns directly.
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(iv)
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Shared power to dispose or to direct the disposition of: N/A
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N/A
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Item 5.
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Ownership of Five Percent or Less of a Class
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If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.
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Item 6.
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Ownership of More than Five Percent on Behalf of Another Person.
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Item 7.
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Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
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Item 8.
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Identification and Classification of Members of the Group
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Item 9.
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Notice of Dissolution of Group
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Item 10.
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Certification
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By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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Date: March 28, 2011
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By:
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/s/ John B. Baum
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Name: John B. Baum
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| Title: John B. Baum, Trustee | ||
| Paulette R. Baum Revocable Living Trust u/a/d 7/21/98 | ||
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Footnotes:
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Attention:
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Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
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