Patrice Ann Varni - May 26, 2022 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role
Chief Marketing Officer
Signature
/s/ Casey K. McGarvey, Attorney-in-Fact
Stock symbol
PRPL
Transactions as of
May 26, 2022
Transactions value $
$0
Form type
4
Date filed
5/31/2022, 12:43 PM
Previous filing
May 31, 2022
Next filing
Jun 1, 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 Award $0 +20K $0.00 20K May 26, 2022 Class A Common Stock 20K Direct F1
transaction PRPL Performance Stock Units Award $0 +26.3K $0.00 26.3K May 26, 2022 Class A Common Stock 26.3K 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 March 15, 2023; one-third on March 15, 2024; and one-third on March 15, 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 March 15, 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 March 15, 2025.