Pano Anthos - May 21, 2021 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role
Director
Signature
/s/ Casey K. McGarvey, Attorney-in-Fact
Stock symbol
PRPL
Transactions as of
May 21, 2021
Transactions value $
-$16
Form type
4
Date filed
5/25/2021, 08:19 PM
Previous filing
May 19, 2022
Next filing
Jun 15, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRPL Class A Common Stock Award $0 +2.97K +13.24% $0.00 25.4K May 21, 2021 Direct
transaction PRPL Class A Common Stock Options Exercise $16.3K +1.42K +5.57% $11.50 26.8K May 25, 2021 Direct F1, F2
transaction PRPL Class A Common Stock Disposed to Issuer -$16.3K -528 -1.97% $30.85* 26.3K May 25, 2021 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PRPL Private Placement Warrants (right to buy) Options Exercise $0 -2.83K -100% $0.00* 0 May 25, 2021 Class A Common Stock 1.42K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 25, 2021, Mr. Anthos exercised 2,830 warrants (the "Private Placement Warrants") on a cashless basis pursuant to the Warrant Agreement, dated as of July 29, 2015, by and between the Issuer and Continental Stock Transfer & Trust Company (the "Warrant Agreement"), with each Private Placement Warrant exercisable for one-half share of Common Stock per Private Placement Warrant at a price of $11.50 per whole share. The disposition of Common Stock in connection with the cashless exercise was exempted pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended, by resolution of the board of directors of the Issuer prior to the disposition.
F2 The number of shares issuable upon a cashless exercise is determined, in accordance with Section 3.3.1(b) of the Warrant Agreement by dividing (x) the product of the number of shares of Common Stock underlying the Private Placement Warrants multiplied by the difference between $11.50 and the Fair Market Value by (y) the Fair Market Value. For this purpose, the "Fair Market Value" is equal to the average last sale price of the Issuer's Common Stock for the ten (10) trading days ending on the third trading day prior to May 25, 2021. The Issuer has calculated the Fair Market Value to be $30.85.