Patrice Ann Varni - May 28, 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 28, 2022
Transactions value $: -$6,678
Form type: 4
Date filed: 6/1/2022, 09:30 PM
Previous filing: May 31, 2022
Next filing: Jul 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRPL	Class A Common Stock	Options Exercise		+3.22K			3.22K	May 28, 2022	Direct	F1
transaction	PRPL	Class A Common Stock	Tax liability	-$6.31K	-1.05K	-32.62%	$6.02	2.17K	May 28, 2022	Direct
transaction	PRPL	Class A Common Stock	Options Exercise		+268	+12.37%		2.44K	Jun 1, 2022	Direct	F1
transaction	PRPL	Class A Common Stock	Tax liability	-$363	-76	-3.12%	$4.78	2.36K	Jun 1, 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	+3.22K	+49.99%	$0.00	9.65K	May 28, 2022	Class A Common Stock	3.22K		Direct	F1, F2
transaction	PRPL	Restricted Stock Units	Options Exercise	$0	+268	+2.94%	$0.00	9.38K	Jun 1, 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.