Robert DeMartini - Apr 8, 2022 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role: CEO, Director
Signature: /s/ Casey K. McGarvey, Attorney-in-Fact
Stock symbol: PRPL
Transactions as of: Apr 8, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/8/2022, 04:00 PM
Previous filing: Apr 5, 2022
Next filing: Jun 13, 2022

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	Restricted Stock Units	Disposed to Issuer	$0	-389K	-77.71%	$0.00	111K	Mar 25, 2022	Class A Common Stock			Direct	F1, F2
transaction	PRPL	Employee Stock Options (right to buy)	Disposed to Issuer	$0	-389K	-77.71%	$0.00	111K	Mar 25, 2022	Class A Common Stock		$6.82	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock.
F2	On March 25, 2022, the Company granted to the reporting person, under the Company's equity incentive plan, Employee Stock Options (right to buy) to purchase 500,000 shares of the issuer's Class A Common Stock and 500,000 Restricted Stock Units. On April 8, 2022, the Company rescinded and cancelled 388,530 of the Employee Stock Options (right to buy) and 388,530 of the Restricted Stock Units granted, for no consideration, with the reporting person's consent.

Content

Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock.

On March 25, 2022, the Company granted to the reporting person, under the Company's equity incentive plan, Employee Stock Options (right to buy) to purchase 500,000 shares of the issuer's Class A Common Stock and 500,000 Restricted Stock Units. On April 8, 2022, the Company rescinded and cancelled 388,530 of the Employee Stock Options (right to buy) and 388,530 of the Restricted Stock Units granted, for no consideration, with the reporting person's consent.