Patrice Ann Varni - 28 May 2022 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role: Chief Marketing Officer
Signature: /s/ Casey K. McGarvey, Attorney-in-Fact
Issuer symbol: PRPL
Transactions as of: 28 May 2022
Net transactions value: -$6,678
Form type: 4
Filing time: 01 Jun 2022, 21:30:27 UTC
Previous filing: 31 May 2022
Next filing: 05 Jul 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRPL	Class A Common Stock	Options Exercise		+3,216			3,216	28 May 2022	Direct	F1
transaction	PRPL	Class A Common Stock	Tax liability	$6,315	-1,049	-33%	$6.02	2,167	28 May 2022	Direct
transaction	PRPL	Class A Common Stock	Options Exercise		+268	+12%		2,435	01 Jun 2022	Direct	F1
transaction	PRPL	Class A Common Stock	Tax liability	$363	-76	-3.1%	$4.78	2,359	01 Jun 2022	Direct

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	Options Exercise	$0	+3,216	+50%	$0.000000	9,649	28 May 2022	Class A Common Stock	3,216		Direct	F1, F2
transaction	PRPL	Restricted Stock Units	Options Exercise	$0	+268	+2.9%	$0.000000	9,381	01 Jun 2022	Class A Common Stock	268		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Restricted Stock Units convert into Class A Common Stock on a one-for-one basis.
F2	On May 28, 2021, the reporting person was granted 12,865 Restricted Stock Units, 25% of the restricted stock units granted vesting on May 28, 2022. The remaining 75% of the units vest in monthly installments on the first day of each calendar month beginning on June 1, 2022 in the amount of one-forty-eighth of the full amount for the remaining three years.