Jeffrey Layne Hutchings - May 12, 2022 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role
Chief Innovation Officer
Signature
/s/ Casey K. McGarvey, Attorney-in-Fact
Stock symbol
PRPL
Transactions as of
May 12, 2022
Transactions value $
$0
Form type
4
Date filed
5/18/2022, 05:25 PM
Previous filing
May 2, 2022
Next filing
May 15, 2023

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 Award $0 +29.5K $0.00 29.5K May 12, 2022 Class A Common Stock 29.5K Direct F1
transaction PRPL Performance Stock Units Award $0 +54.7K $0.00 54.7K May 12, 2022 Class A Common Stock 54.7K 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. The Restricted Stock Units vest in three equal annual installments; one-third on May 12, 2023; one-third on May 12, 2024; and one-third on May 12, 2025 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number.
F2 Each Performance Stock Unit represents a contingent right to receive up to one share of Purple Innovation, Inc. Class A Common Stock after May 12, 2025. Between 0% and 100% of the Performance Stock Units will vest upon Purple Innovation, Inc.'s Class A Common Stock achieving specified target price per share levels on May 12, 2025.