The chairman of High Point, North Carolina-based Culp Inc., has sold $332,658 worth of shares.

Robert G. Culp III sold 5,355 shares at a price of $32 and another 4,963 shares at a price of $32.50, according to a Form 4 filed with the Securities and Exchange Commission on April 13.

Culp now directly owns 1,106,264 shares in the company worth nearly $36 million.

Culp co-founded the company in 1972 and served as its chief executive officer from 1988 to May 1, 2007.

The company was founded in 1972 and supplies a range of mattress and upholstery fabrics. They have manufacturing and distribution facilities across the U.S., Canada and China.

Culp’s shares closed on April 13 at $30.95, down $1.40, or 4.33 percent, for the day.

The filing can be found here.